PYMNTS

SEPTEMBER 28, 2020

It can be said, though, that the Paycheck Protection Program and the Main Street lending efforts from the Federal Reserve and other agencies have been, at best, mixed in terms of success. Only 6 percent of our Main Street SMBs have failed to meet their monthly bills, leagues better than the 12 percent seen as recently as May.

Maine 273

Maine Lending Course Meeting 273

PYMNTS

APRIL 16, 2020

This is just one of the questions PYMNTS set out to answer in the Main Street On Lockdown: The COVID-19 Cash Chasm edition. What measures are SMB owners taking to stay afloat when emergency funding is not enough to sustain them?

Maine 228

Maine Retail United States Survey 228

PYMNTS

NOVEMBER 10, 2020

Optimism around new business is materializing on Main Street, among other places, with small and medium-sized businesses (SMBs) reopening. Twenty-five percent of Main Street SMBs now say they are operating with capacity restrictions, whereas 38.6 percent of SMBs now say they are closed because of the pandemic, compared to 33.9

Maine 227

Maine Maryland Payments Study 227

Abrigo

JUNE 12, 2020

Key Takeaways The soon-to-begin Main Street Lending Program (MSLP) aims to fulfill a need for mid-sized businesses to access relief funds amid the coronavirus pandemic. 30 unless the Fed and the Treasury Department, which pledged $75 billion in equity to the Main Street Lending Program, extend the program. BSA Rules and Regulation.

Lending 195

Lending Maine Regulation Fraud 195

PYMNTS

AUGUST 4, 2020

The first half of 2020 was a tough time to run a small business on Main Street as stay-at-home orders closed down restaurants and retailers for much or all of the past five months. That requirement of rapid change left many Main Street merchants deeply shaken and worried about their futures.

Maine 181

Maine Payments Survey Study 181

PYMNTS

MAY 12, 2020

A team of 50 students from Schulich’s MBA, Master’s and undergraduate programs worked on the service, which will be integrated with Canada’s Digital Main Street program as well as common digital retailers like Shopify , Google, Facebook, Microsoft, eBay and Mastercard Canada.

Maine 240

Maine Los Angeles Online Washington 240

PYMNTS

AUGUST 12, 2020

To gauge the economic health and vitality of local economies, one need look no further than the financial stability of the small and medium-sized businesses that line the main streets and side streets of communities across the nation. One of the digital tools in which Main Street SMBs show great interest is real-time merchant fund settlement.

Maine 183

Maine Payments Survey United States 183

PYMNTS

MAY 28, 2020

In Main Street On Lockdown: Business Recovery edition, we surveyed 431 SMB owners from across the U.S. Main Street On Lockdown: Business Recovery edition aims to understand why some SMBs are all-in on innovation, while others risk getting left in the dust. Not all SMBs are equally eager to develop new technologies, however.

Maine 182

Maine Data Innovation United States 182

PYMNTS

MAY 25, 2020

With 90 percent of SMBs reporting that they have been negatively impacted by the coronavirus, according to PYMNTS research, it’s clear that Main Street cannot afford to sit idle. The consensus on Main Street, however, is that the old ways of doing business may be gone for good.

Fintech 151

Fintech Maine Payments Fraud 151

Abrigo

APRIL 14, 2020

Key Takeaways The Federal Reserve recently unveiled a new loan-purchase program, the Main Street Lending Program (MSLP) Unlike the PPP, loans provided under the MSLP are not eligible for loan forgiveness Community financial institutions play an important role in the MSLP. Eligible lenders for the MSLP include U.S.

Lending 195

Lending Maine Community Payments 195

PYMNTS

JULY 22, 2020

But as is often the case during times of economic turbulence, the costs are being borne the most by Main Street SMBs that have been forced to furlough workers and close their doors (at least temporarily). Restaurants lead the pack among struggling Main Street merchants. business closures.

Maine 140

Maine San Francisco Honolulu Retail 140

PYMNTS

MARCH 5, 2020

Walmart has announced that it’s going to merge its Walmart Grocery app with the main Walmart mobile app, to create a more seamless shopping experience for its customers, according to a report by TechCrunch. The main app was No. Previously, customers had to switch between the two apps depending on what they wanted.

Maine 140

Maine Mobile Report Marketing 140

PYMNTS

JULY 8, 2020

The Federal Reserve Bank of Boston issued a state-by-state listing of lenders accepting applications from new business customers for the Main Street Lending Program on Wednesday (July 8). Borrowers are encouraged to ask their bank about Main Street loans in addition to those on the list.

Maine 142

Maine Boston Lending Payments 142

PYMNTS

MARCH 30, 2020

The boutique shops that lined Main Street USA, which got nearly all of their business face-to-face in their stores, expected that 2020 would be another great year. In other words, this sample reflects the composition of SMBs on those Main Streets and side streets of the communities that we all call home.

Maine 232

Maine Data Capital Cards 232

PYMNTS

JULY 12, 2020

Department of the Treasury and the Federal Reserve gave hope to small- to medium-sized businesses (SMBs) with the announcement of the Main Street Lending Program. Last month, the Treasury agreed to extend the term of Main Street loans to five years from four and delay principal payments for two years, instead of one.

Maine 151

Maine Lending Maryland Payments 151

PYMNTS

SEPTEMBER 9, 2020

Billions of dollars in dry powder for Main Street SMB lending – and relatively few takers. All told, the Main Street Lending Program has extended $1.2 Beyond Main Street lending activities, the Paycheck Protection Program (PPP) may see a renaissance of sorts. But the cash crunch continues. On Tuesday (Sept. In April, 28.3

Maine 164

Maine Lending Report Payments 164

PYMNTS

APRIL 9, 2020

the Fed also said it will support as much as $600 billion in loans slated for small to mid-sized businesses as part of the Main Street Lending Program. In a nod toward the economic pressures faced by smaller firms across the U.S., billion in the top line. “If The money will be there.”.

Maine 147

Maine Lending Report Payments 147

PYMNTS

OCTOBER 30, 2020

The Federal Reserve Board has modified the terms of the Main Street Lending Program (MSLP) to make it more obtainable for smaller businesses, according to a Fed statement on Friday (Oct. The three Main Street facilities have been lowered to $100,000 from $250,000 and the fees adjusted accordingly. .

Lending 133

Lending Maine Payments Security 133

PYMNTS

SEPTEMBER 11, 2020

We have deep dives on Main Street, disbursements and quick-response (QR) code payments. . NEW DATA: The State Of Main Street Businesses Six Months Into The Pandemic. The coronavirus pandemic has stretched Main Street to its financial limits. Six Months Into Pandemic, Taking The Pulse Of Main Street SMBs.

Maine 141

Maine Payments Apple Cards 141

PYMNTS

MAY 8, 2020

The crisis is hardly over, but post-pandemic reality is setting in for Main Street retail. Patrice Frey, president and CEO of the National Main Street Center , is a proponent of supporting existing local economic development organizations like chambers of commerce, community foundations and Main Street programs.

Maine 142

Maine Groups San Francisco Lending 142

CFPB Monitor

JULY 17, 2023

The CFPB has filed an amicus brief jointly with Maine’s Attorney General, Bureau of Financial Institutions, and Bureau of Consumer Credit Protection in the Maine Supreme Judicial Court in a case, Franklin Savings Bank v. Bordick , involving whether the Truth in Lending Act (TILA) applied to the defendants’ loan. Continue Reading

Lending 78

Lending Maine Regulation 78

PYMNTS

APRIL 28, 2020

The Federal Reserve is nearly ready to debut its new Main Street lending program, and it is reaching out to banks for advice, according to a report from CNBC. It is not clear exactly when the Fed’s Main Street lending program will officially begin, although officials estimate that it should be within the next few weeks.

Lending 184

Lending Maine Retail Taxes 184

PYMNTS

MAY 20, 2020

Most businesses have been hit hard by the global pandemic, but perhaps no segment has been more crippled or left with a future more uncertain than the Main Street local establishments that rely on daily sales for traffic. Also looking to give Main Street merchants an easier way to set up digital shop online is OfferUp.

Maine 177

Maine Fintech Payments Retail 177

PYMNTS

JULY 17, 2020

It will now be a lot easier for schools, hospitals and social service organizations to access funds using the Main Street Lending Program. The initiative, crafted by the Federal Reserve Board , is designed to provide loans to businesses to help them cope with the financial stresses of the COVID-19.

Lending 161

Lending Maine Payments National 161

PYMNTS

JUNE 2, 2020

Perhaps the most buoyant finding in Main Street On Lockdown Business Recovery edition is the fact that SMB owners appear to be feeling a bit more upbeat about business prospects with each new survey. And while that is a good sign, America’s devastated Main Street business districts have a long road ahead, and not everyone will make it.

Maine 131

Maine Survey Comparison Innovation 131

PYMNTS

APRIL 21, 2020

But despite tidbits of good news that infection rates are coming down and government money is moving out, a majority of Main Street businesses don’t see themselves surviving COVID-19. history, but it has not made Main Street SMBs feel any more stable than they did before it was passed,” the report states.

Maine 130

Maine Retail Survey Report 130

South State Correspondent

AUGUST 4, 2020

By the same token, many banks are baffled by what to do with the Main Street Lending Program (MSLP), as this is not something we would do in normal times. What is with all the waving we do at the end of Zoom calls? Should we start waving as we back out of the room for in-person meetings in the future?

Lending 221

Lending Maine Meeting 221

PYMNTS

SEPTEMBER 7, 2020

The continued resumption may not be enough to stave off the top-line pressures and cash crunches that bedevil the Main Street SMBs that power a significant portion of the U.S. The state of Main Street right now? is roughly six months into a global pandemic (as declared in March by the World Health Organization).

Maine 161

Maine Survey Cards United States 161

PYMNTS

JUNE 18, 2020

’s Main Street Lending Program intended to aid small- to medium-sized businesses (SMBs), The Wall Street Journal (WSJ) reported. The Main Street Lending Program has already expanded a few times, PYMNTS reported , with lower minimum loan requirements, higher max limits and adjusted repayments schedules.

Lending 141

Lending Maine Capital Report 141

PYMNTS

MAY 29, 2020

If there’s a playbook for Main Street’s migration to digital, Toronto’s Schulich School of Business is authoring a very effective chapter. In 2016, an organization called Digital Main Street was set up by the city of Toronto as a business improvement project for small- to medium-sized businesses (SMBs).

Maine 142

Maine Retail Google Boston 142

PYMNTS

MARCH 18, 2020

Called Help Main Street, the idea is to compile a database of businesses that offer gift cards or other similar items. According to Nihal Mehta of Eniac, the Help Main Street idea is a way to help small businesses while also practicing the social distancing procedures of staying away from places where lots of people usually gather.

Maine 130

Maine Cards Payments Tools 130

William Mills

JANUARY 10, 2023

Do “main characters” only exist within the pages of a book or the movie screens we watch? Originating on TikTok during the height of the pandemic, the main character trend typically refers to an individual’s change in perspective to gain confidence in the unique elements of their personal identity.

Maine 74

Maine Strategy Trends Branding 74

PYMNTS

MAY 29, 2020

in Main Street On Lockdown: Business Recovery. Small and medium-sized companies faced the choice of finding digital ways to reach customers or run the risk of going out of business. All this, Today in Data. 431: Number of SMB owners PYMNTS surveyed from across the U.S. 45.9%: Portion of SMBs that have applied for PPP loans.

Maine 130

Maine Innovation United States Survey 130

PYMNTS

JUNE 5, 2020

In addition to working toward its general mission of moving the sport and hobby forward, the RIA functions as a trade and advocacy group for independent running specialty stores, the huge majority of which are Main Street businesses. The RIA is dialed into Main Street.

Maine 130

Maine Retail Branding Groups 130

PYMNTS

JUNE 4, 2020

The Federal Reserve will launch the Main Street Lending Program, which is geared toward mid-sized businesses, this week. Federal Financial Analytics Managing Partner Karen Petrou said, per the report, “It’s only the ‘ Main Street ’ program if the Main Street in your town looks a lot like Park Avenue.

Lending 130

Lending Maine Company California 130

PYMNTS

SEPTEMBER 25, 2020

We have deep dives on the financial health of Main Street small and medium-sized businesses (SMBs), digital accounts payable (AP), and GoodRx ’s initial public offering (IPO). . The outlook for a number of Main Street SMBs seems to be getting better, but a cash crunch is still a lingering headwind.

Maine 153

Maine Payments social media Cards 153

PYMNTS

DECEMBER 31, 2020

For Main Street businesses, to say 2020 was challenging is an understatement. According to PYMNTS data, more than 60 percent of Main Street firms have at least three channels operating to drive sales: online, at physical stores and mobile.

Maine 169

Maine Philadelphia Cards Capital 169