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Some SMBs Switched Banks When PPP Loans Failed To Come Through

PYMNTS

needed financial help in April as the pandemic led to a loss of customers, founder Pavia Rosati turned to her bank, Capital One Financial Corp., But the New York consulting firm was on its own because Capital One wasn’t prepared to accept applications for the Paycheck Protection Program (PPP) when it launched. That was it.

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US Bank automates construction loan process

BankInovation

Bank Housing Capital Company, a division of U.S. Bank, went live today with an automated solution that allows it to better manage homebuilder construction loans. The Minneapolis, Minn.-based Already, the bank is thinking about expanding the tool to the broader commercial real estate platform.

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Call It Alt-Credit Or POS Lending, ‘Buy Now, Pay Later’ Just Got Bigger

PYMNTS

In addition to its core POS lending business, Affirm branched out into financial services in June, debuting a high-yield savings account called Affirm Savings. Silicon Valley FinTech Affirm is also a regular in the top 5 this year. The account comes with 1.30 Leveraging Risk the Right Way.

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2021 GonzoBanker Awards

Gonzobanker

Lots of tech and operations to clean up, it appears, but no solid bank is better qualified than the team from Minneapolis. million gets the vaunted consumer lender a much-prized bank charter, low-cost deposits to juice current earnings, and a business lending capability to drive future growth. Acronym of the Year. Has to be M-O-E.

Fintech 147
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Fintech Fundings: 38 Companies Raised $300 Million First Week of June

Fintech Labs Insights

Kikka Capital. Alt-lending. Tags: Consumer, advisors, investing, trading, ETFs, wealth management. Total raised: Unknown. HQ: Austin, Texas. Source: Crunchbase. Lease-to-own financing platform. Latest round: $12.5 Total raised: $12.5 HQ: New York City. Source: FT Partners. Source: Crunchbase. Smartkarma. Latest round: $4.7

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The 2019 GonzoBanker Awards

Gonzobanker

The company’s market capitalization, which after declining to less than $600 million in the 2009 recession, has now grown to almost $3 billion. billion of assets under management. Yet the Gonzo team has to give a shout out to the late entry of Texas Capital and Independent Bank. Best of luck in the next chapter, Chris!

Idaho 148
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FinDEVr Silicon Valley: Looking Back, Moving Forward

Fintech Labs Insights

Named 2015 CFO of the Year (Kurt Ishaug) by Minneapolis-St. Forged strategic partnership with United Capital. Signed deal with Vision FCU to provide its money management app. Partnered with fellow Finovate alum NCR to launch new money management platform. Personal Capital ( FD15 ). Entrust Datacard ( FD15 ).