Fintechs Hope for Long Term Relationship with SBA

Fintech lenders are hoping their participation in the Paycheck Protection Program will lead to working with the Small Business Administration long term; many fintech lenders were left out of the PPP when the program first started and even after gaining approval they were unable to funnel funds in a large way; the SBA has a number of lending programs that fintech lenders are looking forward to participating in after the crisis subsides; the 7(a) program in particular will be a key loan which fintech lenders want to be able to originate; “In addition to expanding our abilities to offer small-business loans, we look forward to bringing other key banking tools to underserved small businesses,” Jackie Reses, Head of Square Capital, said to American Banker. American Banker

Notify of
Inline Feedbacks
View all comments