C&I Demand Remains Low. Interest Rate Cuts Could Change That
Massachusetts banks are leaning on business lending to help them diversify away from commercial real estate lending. But demand for those loans has been shrinking for over a year.
The Savings Bank Announces New Business Lending Platform
The Savings Bank recently announced the expansion of its banking services through TSB Business Direct, a digital lending platform for small local businesses.
Fewer Banks Tightening Lending Standards, Raising Hopes
Fewer banks tightened lending standards as 2023 came to a close, a hopeful sign for businesses that broader loan access is on the horizon.
Numerated Acquires Fintech to Improve Underwriting Process
Boston-based Numerated, a financial technology company that provides a business loan origination platform for banks and credit unions, has acquired another local fintech that the company said would help reduce work for lenders using the platform.
Country Bank to Open Springfield Business Office
Ware-based Country Bank, which has branches in Central and Western Massachusetts, will open a new Springfield office later this month for business customers.
PPP Opens Lenders’ Eyes to Their Potential
While most of its loans have already been or likely will be forgiven, the Paycheck Protection Program has transformed community financial institutions, forcing banks to explore new processes and technologies to handle loan volumes while expanding their customer relationships. And its effects are likely to continue for years.
Lenders Confront Cautious Business Borrowers
COVID-19 vaccines have started landing in the arms of Massachusetts’ first responders and nursing home residents. But for now, businesses remain cautious about expansion plans for 2021, changing the characters of some banks’ commercial loan portfolios and increasing their share of real estate loans.
Survey: Most Businesses Want Real-Time Payments
More than 60 percent of businesses said in a recent Citizens Bank survey that they expect to stop using cash or paper check payments in the future, adopting real-time payments instead.
Seeing Opportunity in Main Street
East Cambridge Savings Bank Chief Lending Officer Tim Bombard sees opportunity in the Main Street Lending Program where many other financial institutions don’t.
Banker & Tradesman’s Editorial Cartoon: Witness the Financial Firepower
This battle station is fully armed and operational…with small- and medium-sized business lending capabilities.
Only Nine MA Lenders Join Fed Main Street Program So Far
The Federal Reserve Bank of Boston has published a state-by-state listing of lenders participating in the Main Street Lending Program.
Baker Announces $10M Small Business Loan Fund
Gov. Charlie Baker is throwing small businesses a $10 million lifeline as their sales shrink dramatically amid concerns over the spread of COVID-19.
