Small business banking
Northeast Bank in Portland is putting capital earned from the Paycheck Protection Program to use, purchasing $1.1 billion of loans and launching a small-dollar Small Business Administration lending program.
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Banks and other lenders revived special-purpose credit programs after racial-equity protests in 2020 prompted them to reexamine their services for historically underserved groups. Now they're taking those initiatives nationwide.
December 27 -
Feeling that your bank is truly there for you is the difference between a bank account and a banking relationship.
November 28
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America's largest bank says it wants to make it easier for small businesses in communities of color to get loans. Under its program, applicants who previously may not have been approved are more likely to get an OK, and borrowers who received higher rates could qualify for a cheaper loan.
November 18 -
Even legal dispensaries can be risky business partners, so Southern Chautauqua Federal Credit Union is working with Green Check Verified to make sure everything is above board. "Just because somebody has a license from the state, they can't show up with a duffel bag full of cash like Scarface and say let's do business together," Green Check CEO Kevin Hart said.
October 13 -
At American Banker's Small Biz Banking conference, bankers said they are throwing community events, working with local nonprofits and trying to turn lending decisions from "no" to "yes."
October 7 -
The industry must adapt quickly to the changing preferences of entrepreneurs and the innovation of nonbanks such as PayPal and Square, according to speakers at American Banker's Small Biz Banking Conference. Traditional players such as U.S. Bancorp and Comerica say they're making the necessary investments.
October 5 -
The new offering is the latest step in the Minneapolis bank's push to provide digital tools that will help build deeper relationships with commercial clients.
October 3 -
A new report from American Banker's parent company finds that traditional banks are vulnerable to competition from online banks and fintechs such as PayPal and Square. It recommends that banks build deeper relationships with small-business owners by adding more products to their traditional suite of offerings.
October 2 -
The challenger banks Mercury and Nerve are offering networking events, tailored accounts, credit cards and more to attract a once neglected market.
September 30
