Biz2Credit Archives - ABFJournal

Biz2Credit Begins Taking ‘Pre-Applications’ For New Round of PPP Loans

Now that new COVID-19 relief has been signed into law by President Donald Trump, fintech company Biz2Credit has begun taking ‘pre-applications’ for the new round of the Paycheck Protection Program.

December 30, 2020 Biz2Credit | Paycheck Protection Program | Rohit Arora Phil Neuffer

CPA Firms Mobilizing to Support $900B COVID-19 Relief Bill

With the recent enactment of emergency coronavirus relief, which includes renewed PPP funds and related assistance, new regulations will be in place early in the new year, according to the AICPA and its business and technology arm, CPA.com.

December 29, 2020 American Institute of CPAs | Biz2Credit | CPA.com | Erik Asgeirsson | Rohit Arora Phil Neuffer

AICPA: Small Businesses and CPA Firms Should Ready for New Round of Relief Funds

As Congress weighs renewed economic stimulus, CPA firms should be gearing up to assist small businesses whose survival depends on a new round of funding under the Paycheck Protection Program, according to the AICPA and its business and technology arm, CPA.com.

December 15, 2020 American Institute of CPAs | Biz2Credit | CPA.com | Erik Asgeirsson | Rohit Arora Phil Neuffer

Biz2Credit: PPP Had Large But Short-Lived Effect for Small Businesses

U.S. government lending programs restored sufficient capital for businesses to weather the effects of the COVID-19 pandemic for a short period, but many firms are currently operating at a monthly loss, according to Biz2Credit’s new six-month analysis of COVID-19’s impact on small businesses.

December 14, 2020 Biz2Credit | Paycheck Protection Program | Rohit Arora Phil Neuffer

Biz2Credit: Small Business Loan Approval Rates Down More Than 50% YTD

According to Biz2Credits’s latest Small Business Lending Index, small business loan approval percentages at lage banks decreased from 13.3% in October to 13.2% in November. In comparison, big banks approved 28.1% of the funding requests they received last November.

December 9, 2020 Biz2Credit | Rohit Arora | U.S. Bureau of Labor Statistics Phil Neuffer

HSBC Provides Biz2X Platform to Customers to Streamline Banking for Small Businesses

HSBC Bank, part of HSBC Group, is working with Biz2Credit to provide small business owners quicker and easier access when applying for business financing with the Biz2X Platform by Biz2Credit.

November 13, 2020 Biz2Credit | HSBC Bank | Rohit Arora | Shaun McDougall Ellie Delany

Small Business Loan Approval Rates at Big Banks Declined in October

Small business loan approval percentages at big banks, or those with $10 billion or more in assets, dropped slightly from 13.5% in September to 13.3% in October, according to the latest Biz2Credit Small Business Lending Index.

November 12, 2020 Biz2Credit | Rohit Arora Ellie Delany

Costs Exceed Revenue for Many Latinx-Owned Businesses Since COVID-19 Began

According to a study from Biz2Credit, sales of Latinx-owned businesses dropped 42% in March and April and are down 21% during the 12-month period from Sept. 16, 2019 to Sept. 15, 2020.

October 12, 2020 Biz2Credit | Rohit Arora Ellie Delany

Biz2Credit: Small Business Loan Approval Rates Continue to Decline at Big Banks

Small business loan approval percentages at big banks dropped slightly from 13.6% in August to 13.5% in September, which is indicative of the struggles that small businesses are facing, according to the latest Biz2Credit Small Business Lending Index.

National Loan Aggregator ACAP Partners With Biz2Credit to License PPP Forgiveness Platform

ACAP SME, an SBA-approved non-bank lender and national loan aggregator (purchaser) of Paycheck Protection Program (PPP) loans, in partnership with The Loan Source, ACAP’s servicing team, signed a deal to utilize Biz2Credit’s Biz2X PPP Forgiveness Platform.

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