Short Term Financing News Today

The SBA plans to launch a working capital pilot program featuring a newly structured line of credit for small businesses.

The Small Business Administration (SBA) reportedly plans to launch a pilot program to provide small businesses with working capital.

Many SMBs are turning to external financing. However, 30% of small businesses say they won't seeking financing in the next 12 months, PYMNTS has found.

Nav has launched a “next best option” service for small businesses rejected for a credit card or loan, providing guidance for SMBs trying to access capital.

Unified commerce platform Priority Technology Holdings has launched a technology partnership with universal payments company Datacap.

Small businesses are reportedly reducing their software spending, hurting the businesses that make that software and leading to declining revenue.

According to PYMNTS Intelligence data, larger SMBs cite several reasons for using corporate credit cards as a working capital solution.

B2B payments are about more than card acceptance and digital revenue acceptance, Tom Priore, chairman & CEO of Priority Technology Holdings, said.

With 1 in 4 SMBs hoping to increase their use of corporate cards for business financing, financial institutions that meet this demand could also benefit.

Forbes Under 30 listers Alice Deng and Lawrence Lin Murata have secured more than $62 million in total for their buy now, pay later platform.