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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. Last year, Square Capital did $2.3 Of that number, 60 percent of the borrowers had never before received a loan through Square Capital.

Capital 141
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Thought starter: Top challenges accountants face and actionable ideas to solve them

Abrigo

Recently, Accounting Today’s editor-in-chief Daniel Hood spoke with Ralph Thomas , the CEO and executive director of the New Jersey Society of CPAs, to have a candid conversation about the challenges currently facing accountants for the website’s video series.

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OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

The tri-state area (New York, New Jersey and Connecticut) saw the highest growth in the district, an impressive 7 percent. Many of the issues which the OCC will be focusing on ring true for all banks regardless of regulator and region. The OCC on Oct. This metric surged from 2 percent as of June 30, 2013, to 4.4

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Text-Based Healthcare Platform 98point6 Nets $118M After Membership Grows 274 Pct

PYMNTS

The funding round was led by the Growth Fund of L Catterton and Activant Capital , which works with companies disrupting legacy industries, according to the release. Brands like Banner|Aetna , Boeing , Circle K , Red Bull North America , Sam’s Club , Teamsters Western Region and New Jersey Health Care Fund are among 98point6's member list.

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Crowdfunding, Deferred Loan Payments Jumpstart SMB Relief

PYMNTS

As more government entities introduce measures to aid SMBs, banks and FinTechs have launched their own programs this week to accelerate access to much-needed capital for their SMB customers. to help bailing out their SMB customers, with some regional financial institutions (FIs) already taking action. Fed Calls On Small Banks.

Payments 173
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Philadelphia Mall Owner Takes Care Of Its Own

PYMNTS

REITs are not exactly a source of good or even consistent news these days. Just this week, investors in Starwood Capital Group started to show signs of strain after the pandemic shuttered stores and wiped out emergency cash reserves, leading to default on a $700 million loan.

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Valley's $400M capital raise accelerates pivot away from CRE

American Banker

The added capital will help the New Jersey-based regional bank reduce its commercial real estate footprint faster and give it wiggle room to grow elsewhere, analysts said.

Capital 41