Surprising Jobs Report, PPP Rules Adjusted and Point of Sale Booms

In this week’s PeerIQ Industry Update they cover the surprising jobs report that sent markets shooting up on Friday with the unemployment rate dropping to 13.3 percent; banks are a sign of strength in the economy and PeerIQ saw the rate of loans in hardship drop for the first time since the pandemic began; legislators passed a relief bill for PPP forgiveness giving businesses 24wks to spend PPP funds and reduces the share that must be spent on payroll costs to 60 percent; buy now pay later has been one of the biggest stories in fintech with the offering becoming more widespread through companies like QuadPay and Apple; Affirm also added a savings account and Varo Money raised a $241mn series D round. PeerIQ

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