Tick. Tick. Tick. For small business owners, gig workers, and freelancers fighting for survival during the pandemic, every day that passed without essential capital put their futures at risk. So when Womply – also known as Oto Analytics, Inc. – and CEO Toby Scammell claimed to offer a “PPP Fast Lane” to get them speedy access to funds through the Paycheck Protection Program, it sounded like time was finally on their side.
Private fund managers such as Apollo, Ares, Blackstone and KKR have grown to dominate corporate finance over the past decade. Now they are targeting the biggest prize in the global economy: the U.S. consumer.
Washington, DC – A new report by the Congressional Budget Office (CBO) has brought to light significant concerns regarding the balance between the public subsidies received by Federal Home Loan Banks (FHLBanks) and the public benefits they claim to offer.
SMBs need fast, flexible and digital-first solutions that help rather than hinder growth. However, their needs have been traditionally underserved by banking incumbents who view them as too small to warrant the tailored services afforded to corporates, yet too diverse to be addressed in a scalable way like retail banking clients.
For small businesses struggling to stay afloat during COVID, time was of the essence. When help materialized in the form of the emergency Paycheck Protection Program (PPP) administered by the Small Business Administration, businesses owners knew they had to move fast to apply for first-come-first-served funds necessary to keep their doors open and their people employed.
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