News

The National Bank of Coxsackie launched its new small business lending platform, NBC Express. Now small businesses can apply for installment loans via this platform and the entire process, from application to funding, is completed in a digital manner. 

Opportunity Bank of Montana and Teslar Software partnered to streamline the bank’s lending process for both employees and customers. The bank anticipates loan growth of up to 10% this year and leveraging Teslar will allow it to scale efficiently.

Total U.S. bankruptcy filings in April 2022 decreased 21% from last April, according to data provided by Epiq Bankruptcy. Commercial filings decreased 16% in April 2022, as the 1,761 filings were down from the 2,105 commercial filings registered in April...

StepStone Group, a global private markets investment firm, closed StepStone Senior Corporate Lending II, raising $1.3 billion of commitments, surpassing its target of $1 billion.

On Wednesday, the Federal Reserve unveiled its plan to raise the federal funds rate to 0.75% to 1%. According to Yahoo Finance, the 0.5% hike was “the most aggressive increase made in a single meeting since May 2000.”

WEX, a global commerce platform, launched WEX Capital. Formerly known as Fleet One Factoring, WEX Capital added former Crestmark leaders Heath Holdbrooks, Lynne Taylor Farrar, Cory Turner and Sean Campbell to lead the business.

ARF Financial launched Bankroll, a new lending product designed to help business owners access maximum financing with fixed terms. Bankroll provides business owners with a max loan approval amount, a fixed loan term and a fixed weekly payment.

An entire plant full of machinery and equipment featuring injection molding and chrome plating machinery is being auctioned via webcast on May 12 at 10 a.m. CST in Colon, Queretaro, Mexico. The auction will be conducted jointly by Hilco Global...

The American Association of Commercial Finance Brokers elected Kortney Murray as its new director at large and Leslie Brown as its new secretary/treasurer. The AACFB also elected Roderick Knoll, CLFP, of Marathon Commercial Capital as its new vice president.

According to Truist’s annual Small Business Pulse survey, supply chain issues have prompted small business owners to search for new supply sources, use local suppliers and adjust delivery schedules, while 90% of respondents have taken action to address for inflation.