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Online Lenders Play a Waiting Game With the PPP

Online Lenders Play a Waiting Game With the PPP

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FintechNews RoundupUSA
··1 min read

The online lending industry has been ready, willing and able to help American small businesses with the Paycheck Protection Program (PPP); but so far, despite aggressive lobbying, they have been shut out of the process because virtually no online lenders are approved to work with the SBA; that might be changing because on Wednesday night the SBA finally published the application for non-bank lenders to apply to be part of the process; some lenders, such as Kabbage and PayPal, have already created workarounds by partnering with an SBA-approved bank; in the case of Kabbage they have received 40,000 loan applications totaling $4 billion in loan requests. NY Times

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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