Tagged: paycheck protection program

April 24, 2020 @ 2:20 pm By JD Alois  |  

Earlier today, President Donald Trump signed into law the H.R. 266 or the “Paycheck Protection Program and Health Care Enhancement Act.” The law adds about $500 million in funding to the Paycheck Protection Program (PPP) under the previously approved CARES Act. The PPP provides payroll… Read More

April 24, 2020 @ 12:47 pm By Samantha Hurst  |  

Sean ‘Diddy’ Combs announced on Friday the launch of his new platform, Our Fair Share. According to the Entrepreneur and Media Mogul, Our Fair Share is a platform built to help minority entrepreneurs and small businesses access to much-needed funding amid the economic devastation caused… Read More

April 23, 2020 @ 9:00 am By JD Alois  |  

Fintech Lendio has formed a partnership with Jack Henry & Associates (NASDAQ: JKHY) to speed up the Paycheck Protection Program (PPP) process to get money to impacted SMEs faster. Lendio has already processed over 70,000 PPP loan applications for around $5.8 billion in total funding…. Read More

April 22, 2020 @ 3:57 pm By JD Alois  |  

Yesterday, Crowdfund Insider covered the news that LendingClub (NYSE:LC), the largest Fintech consumer lender in the US, was furloughing and eliminating jobs due to the COVID-19 pandemic. The crisis has apparently driven the elimination of 471 individual jobs. Shockingly, LendingClub’s President saw his position eliminated…. Read More

April 22, 2020 @ 2:46 pm By Samantha Hurst  |  

Citizens Bank of Edmond announced on Wednesday it has teamed up with MX, a bank, credit union, fintech digital platform to launch a new Paycheck Protection Program (PPP) loan portal for the bank’s small business customers. According to Jill Castilla, President and CEO of Citizens Bank… Read More

April 22, 2020 @ 11:01 am By Samantha Hurst  |  

Lendsmart and Griffin Technologies, two U.S. fintechs that are building software for banks and credit unions, announced on Wednesday they have partnered to provide their customers a complete end-to-end solution for the Paycheck Protection Program (PPP), which was created under the original CARES Act following the COVID-19… Read More

April 21, 2020 @ 5:26 pm By JD Alois  |  

The US Senate has unanimously approved more funding for the Paycheck Protection Program (PPP) created under the original CARES Act that was tapped dry several days ago. The approval by the Senate now queues up a vote in the US House of Representatives later this… Read More

April 17, 2020 @ 10:37 am By Samantha Hurst  |  

Online lending platform Lendio announced on Friday it facilitated more than 50,000 small businesses across the U.S. through the Paycheck Protection Program (PPP). Lendio reported that PPP applications approved through its online marketplace and bank partnerships total more than $5.5 billion. As previously reported, the… Read More

April 15, 2020 @ 2:09 pm By JD Alois  |  

OnDeck (NYSE: ONDK), an online SME lender, has been approved as a Small Business Administration (SBA) lender to facilitate the Paycheck Protection Program (PPP), part of the CARES Act Coronavirus assistance program. Under the PPP, OnDeck will be processing and servicing loans on behalf of… Read More

April 15, 2020 @ 12:42 pm By Samantha Hurst  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, announced on Wednesday it has received approval to issue Paycheck Protection Program (PPP) loans through its online lending platform. As previously reported, the PPP is part of… Read More

April 13, 2020 @ 7:46 am By Samantha Hurst  |  

Customers Bank (NYSE:CUBI) announced on Friday it has increased its Paycheck Protection Program commitment to $500 million by using digital banking OakNorth to help support American small and medium-sized businesses during the coronavirus (COVID-19) pandemic.  As previously reported, the Paycheck Protection Program is part of… Read More

April 7, 2020 @ 5:06 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Tuesday it has partnered with a technology-enabled bank and authorized lender of the Small Business Administration (SBA) to deliver billions of dollars of Paycheck Protection Program (PPP) loans to American small businesses. Kabbage claims its program has received more… Read More

April 6, 2020 @ 2:52 pm By JD Alois  |  

The US Federal Reserve, the central bank of the US, will establish a facility to facilitate lending to small businesses via the Small Business Administration’s Paycheck Protection Program (PPP) by providing term financing backed by PPP loans. The news was distributed in a very brief… Read More

April 6, 2020 @ 11:31 am By Samantha Hurst  |  

Marketplace lending company Funding Circle (LSE: FCH) announced on Friday it launched a pre-application system for small business owners interested in funds from the Paycheck Protection Program, which is offered by the U.S. Department of Treasury and Small Business Administration (SBA). Paycheck Protection Program (PPP)… Read More

April 6, 2020 @ 9:58 am By JD Alois  |  

Last week in advance of the opening up of federal subsidized programs to backstop small businesses in the US crushed by the COVID-19 pandemic, Lendio CEO Brock Blake took to Twitter to criticize the lack of coordination between the US Department of Treasury and the… Read More