PayPal and Intuit are among the first non-bank, fintech companies to be approved for the program. The SBA published guidelines for non-bank lenders to apply for SBA approval on Wednesday evening (link).
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PayPal, Intuit QuickBooks approved to take part in coronavirus, SBA emergency loan program
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“This is a race to save jobs in the present and for the future,” PayPal CEO Dan Schulman said in a press release. “We are eager to deploy our capital and expertise to do our part in helping small businesses survive this challenging period.”
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