Emergency coronavirus program gives fintechs a shot at SBA lending

Financial Planning | Mar 26, 2020 at 7:37 PM
  • For fintechs, the sweeping federal response to the coronavirus crisis could be a way to gain access to more lending opportunities.
  • SBA Administrator Jovita Carranza and Treasury Secretary Steven Mnuchin have the authority to open the program to other lenders with “the necessary qualifications to process, close, disburse and service loans”.
  • Ryan Metcalf, head of regulatory affairs and social impact at Funding Circle, is making a similar argument.