small business lending
American Express to Buy Financial Technology Firm Kabbage. Amex Stock Drops
Text size Andrew Harrer/Bloomberg American Express has agreed to buy nearly all of fintech Kabbage as it seeks to expand its services for small businesses. Financial terms weren’t announced, although press reports peg the sale at $850 million. AmEx (ticker: AXP) is buying Kabbage’s team as well as its suite of financial technology products, data …
Mnuchin Calls for Forgiving PPP Loans to Smallest Businesses
WASHINGTON—Congress should consider automatically forgiving Paycheck Protection Program loans taken out by the smallest U.S. businesses—and offer a second helping of aid to firms hard hit by the pandemic, Treasury Secretary Steven Mnuchin said Friday. The comments came at a House Small Business Committee hearing, where lawmakers in both parties signaled they want to push …
Technology, Manager Initiative Buffer Florida Pension’s PE Portfolio
Hefty exposure to technology investments combined with swift action by managers helped lessen the impact of the coronavirus on the private-equity portfolio of Florida’s largest public pension fund, the Florida State Board of Administration, which manages the pension, said in a recent presentation. Nearly 44% of the market value of Florida Retirement System Pension Plan’s …
Lawmakers to Move Within Days to Provide More Small-Business Loans
WASHINGTON—Top lawmakers said they plan to move within days to provide hundreds of billions of dollars in new funding for small-business loans, citing widespread demand for assistance from firms hit by shutdowns related to the coronavirus pandemic. Heavy requests for the previously approved $350 billion in loans are pushing Republican and Democratic lawmakers to consider …
