Exclusive: Better.com, Biz2Credit partner on small-business HELOCs
Small-business owners will be given the option to tap into anywhere from $50,000 to $500,000 in financing.
Small business banking
Big banks like Bank of America and TD capitalize on SBA loan growth
With a week left in its 2023 fiscal year, the Small Business Administration has already approved 12% more 7(a) loans than last year. Larger banks were among the biggest gainers as a result, according to the agency's latest data.
Redlining’s lasting damage to communities
The racially targeted mass shooting at a Buffalo, New York, grocery store in 2022 has renewed conversations about whether banks have a duty to help segregated, impoverished communities that were shaped in part by discriminatory lending practices. What do banks owe the Black community, and what influence could they have?
Lenders warned they risk irrelevance if they’re not inclusive
Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.
Lenders eager for higher rates — just not too high
Community bankers are excited that the Federal Reserve is poised to raise interest rates, which would make loans more profitable — unless rates rise so much they suppress demand.
