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Senate bill would let small businesses use SBA loans to cover fintech fees

Payments Dive

The Financial Technology Association is backing a bill that would clarify that loans made through the Small Business Administration’s flagship lending program can be used to pay for fintech services.

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Financial Technology Company Cross River Raises $100 Million In Funding

PYMNTS

Cross River, a provider of banking services for financial technology companies, has raised about $100 million in a funding round, according to a report by the company. A large portion of the money — $75 million — was from KKR, a global investment firm.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Buy now, pay later (BNPL) is a type of point-of-sale installment loan that partners with retailers to allow consumers to pay for their purchases in multiple equal payments. which is a huge draw to using BNPL as a non-cash payment method. What Are Some Buy Now, Pay Later Companies? Which one is best for me?

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The Financial Technologies SMEs Aren’t Using

PYMNTS

sought external financing in 2016 , suggesting these firms simply aren’t interested in lending technologies or accessing, for instance, a loan from an alternative finance provider. surveyed said their accounting software is integrated with an invoicing and payments solution. 37 percent of SMEs in the U.K. small businesses.

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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions.

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PayNet, Numerated Pair Up For Business Lending Risk Analytics

PYMNTS

Financial technology (FinTech) company Numerated , which links financial institutions (FIs) with digital business lending and sales solutions, has announced a partnership with PayNet to integrate risk analytics into its offering. In a press release issued on Tuesday (Jan. In a press release issued on Tuesday (Jan.

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Alt-Lending Conglomerate TruFin Lands $97M In IPO

PYMNTS

An alternative lending conglomerate based in the U.K. Oxygen Finance acquired Satago last year in a deal Ben Jackson, Oxygen CEO, said would enable the companies to “be well-positioned to lead the market in delivering modern, integrated payment and receivable strategies for large buying organizations and their suppliers, SMEs included.”.

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