PayPal and Intuit Become First Fintechs to Help SBA Lend Stimulus Capital

Fintechs PayPal and Intuit were the first two non-bank lenders to be approved to lend through the Small Business Association’s emergency lending program; “This is a race to save jobs in the present and for the future,” PayPal CEO Dan Schulman said in a press release according to CNBC. “We are eager to deploy our capital and expertise to do our part in helping small businesses survive this challenging period.”; Intuit QuickBooks also said they would process payroll information to help small businesses get approved; while the two companies are the first to be approved they probably won’t be the last as more and more online fintech lenders apply for approval each day. CNBC

Notify of
Inline Feedbacks
View all comments