Potential Sources for Paycheck Protection Program Loans: Fintech Companies
The SBA has granted permission for several fintech companies to offer Paycheck Protection Program (PPP) loans online. Fintech companies work by using technology to increase the ease of obtaining financing. Companies such as Square, Intuit and PayPal can grant the loans. Others work to find a bank for the business owner and help in moving the loan process forward. Businesses that have worked with traditional banks or who do not have a current banking relationship, could contact any of these companies to see if they might be able to help in securing a PPP Loan. Listed below is a sample list of fintech companies: • Biz2Credit
• BlueVine
• Cross River
• Divvy
• Kabbage
• Fundera
• Funding Circle
• Lendio
• Nav
• PayPal
• Quickbooks Capital
• Veem
Please note that being on this list does not mean that we are endorsing specific providers or that we have researched these companies. This is an informational aid to help clients seek out additional financial services. Should you need assistance with gathering information for loans or help in understanding SBA loans associated with Covid-19 legislation, visit our website for more resources and call our office or email us at covid19@cbsmithcpa.com. Our staff is always available to assist you. Related articles: Inc.com - Can’t Get a PPP Loan? Try a Fintech Company Forbes.com - Need a loan now that the Paycheck Protection Program is running again? Try these nonbank lenders.
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