Newsletter Sent On: 04/24/2020

The Front Line of PPP Lending Read more

Ready Capital Was The Biggest PPP Lender By Volume in Round 1 of PPP Funding
Ready Capital, a multi-strategy real estate finance company and one of the largest non-bank SBA lenders in the country, was the top PPP lender by loan volume in the country. Read more

Lending Club Sheds 460 Employees
In response to changing economic conditions, Lending Club announced that it has put a plan in place that will reduce its workforce by 460 employees. That comes in addition to temporary reduced sal... Read more

Treasury to Public Companies: Return your PPP funds by May 7th
Via CNBC: public pressure has led the federal government to scrutinize public companies that received PPP funds Read more

The Three-Phase Guidelines for Reopening States
The Trump administration last week released a set of guidelines on how states and local governments may reopen.Titled ‘Opening Up America Again,’ the document outlines criteria to help classify wh... Read more

United Capital Source CEO Jared Weitz Appeared on Fox News
This week, Jared Weitz, CEO of United Capital Source, appeared on Fox News to talk about the PPP, EIDL, and small business lending. Video below:... Read more

Lendio Facilitated More Than 4% of All PPP Transactions
Lendio processed $5.7 billion of the $342 billion funded to businesses through the Paycheck Protection Program. With this amount going to just over 70,000 business owners, the Utah company facilitated... Read more

Small Business Group Advocates For Community Anchor Loan Program (CAP) In Wake Of PPP Wind Down and Possible Refresh
At last tally, more than 800,000 small business PPP applications have gone unfunded since the program reached its limit, many of which are genuine mom-and-pop shops that employ less than 25 people. ... Read more

Clearbanc Launches Runway in Response to Covid-19
This month Clearbanc announced its latest product, Runway, in response to the impact of the novel coronavirus. Having historically served the needs of those businesses that are seeking funds for digit... Read more

Stripe Raises $600M at $36B Valuation
Via Techcrunch: Stripe shows strength Read more

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