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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. Last year, Square Capital did $2.3 Of that number, 60 percent of the borrowers had never before received a loan through Square Capital.

Capital 141
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Visa Taps Chris Newkirk To Serve As Chief Strategy Officer

PYMNTS

To lead strategic planning for the firm overall and in conjunction with its regional teams, Chris Newkirk is coming to Visa Inc. Newkirk has held multiple leadership roles at Capital One since 2008, most recently as president of Small Business, International & Walmart Partnership. as its new chief strategy officer. and New York.

Strategy 131
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Trade Finance Moves To Stabilize A Volatile Market

PYMNTS

Last month, The Washington Post reported more than 40 conglomerates, including Google and Dell, have nixed working with Chinese vendors in an effort to avoid those fees that aim to encourage businesses to shift their supply chains to the U.S. But across the globe, access to trade finance can be stifled.

Marketing 108
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First New Community Bank In Decades Headed To US Market

PYMNTS

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. The bank is one of several newly proposed community banks in the region, with goals of disrupting the financial services landscape, including business and corporate banking.

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Kroger Becomes First North American Grocer To Launch In-Store Farms

PYMNTS

Infarm will launch this month at two of Kroger ’s 15 Washington state supermarkets. The startup raised $100 million earlier this year in a Series B round with investors that included Skype founder Niklas Zennström’s investment firm Atomico as well as Balderton Capital, Bloomberg reported. and Europe.

Michigan 101
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Rebeca Romero Rainey: Let’s continue to push the boundaries

Independent Banker

with our state regional partners. I’ll end the month in Washington, D.C., for our ICBA Capital Summit. That’s why, if you aren’t already planning to join us in Washington, D.C., later this month for ICBA’s Capital Summit ( icba.org/capitalsummit ), I encourage you to register. I’ll be in Little Rock, Ark.,

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Pro.com Will Use $10M In Financing To Expand Its Contractor Services

PYMNTS

Pro.com, a tech-centric general contractor with licenses in Washington and California, announced that it has raised $10 million in a growth financing round. Now it has its own teams in place in cities in Washington state and California, including carpenters, electricians and project managers.