Category: Credit

September 14, 2020

Even before Covid-19, banks have long struggled to service SME’s lending needs and faced pressure to boost customer service from digital banks entering business banking. Now, the unprecedented demand for the Government’s stimulus packages and Bounce Back Loan Scheme (BBLS) […]

August 12, 2020

Digital lending start-up Blend raised $75 million in fresh funding amid surging demand for streamlined mortgage applications during the coronavirus pandemic. The move values the company at almost $1.7 billion, a jump of more than 70% from its previous funding […]

July 21, 2020

U.S. Bancorp Community Development Entity, LLC (USBCDE, LLC), the community development arm of U.S. Bank, received $65 million in tax credit allocations from the U.S. Department of Treasury to help address persistent gaps in economic outcomes in lower-income communities. The […]

July 20, 2020

The study, published on 16 July, used a match-pair “mystery shopper” test, where a Black and a white applicant with nearly identical business profiles and strong credit histories would contact the same bank. In 27 of the 63 cases, white […]

July 10, 2020

Having good credit is something you want to aim for at all stages of life, but what some people don’t think about is how important credit is when you reach retirement. When you retire, you want to have as much […]

June 24, 2020

Millions of small businesses have gotten federal aid to help weather the recession caused by the coronavirus pandemic. Despite that relief, many don’t expect to survive the crisis. Entrepreneurs who close their doors may be wondering if they’ll be on […]

June 4, 2020

The coronavirus pandemic compounds an already dire financial situation for millions of Americans. One-third of homeowners have less than $500 or, worse, nothing set aside for an emergency home repair, according to a report released Wednesday, and that includes 50% […]

May 6, 2020

States enduring the brunt of the coronavirus crisis are receiving a smaller proportion of emergency small business loans than some Mountain and Midwest states, according to analysis conducted by the Federal Reserve. “In New York, the epicenter of the coronavirus […]

May 5, 2020

S&P Global Ratings revised its outlook on the ratings of 13 U.S. banks to negative from stable and said the coronavirus pandemic will hit hardest those lenders that are most exposed to industries such as commercial real estate and consumer […]

April 28, 2020

The Trump administration will audit small-business loans above $2 million, U.S. Treasury Secretary Steven Mnuchin said Tuesday, as he warned of criminal liability for companies who improperly got government cash. “It’s the borrowers who have criminal liability” if they made […]