Home
Fintech
Citi Develops Portal to Help Deploy Stimulus Capital

Citi Develops Portal to Help Deploy Stimulus Capital

·
FintechNews RoundupUSA
··1 min read

Citigroup CEO Michael Corbat said the bank was working to develop their own portal to help push capital to small businesses as part of the Paycheck Protection Program; Corbat said the goal of the portal is to “get this money into small businesses’ hands as quickly as it can.”; fees for the capital range from 5 percent for a loan under $350,000 to 1 percent for a loan over $2 million; the Trump administration said they are working to help the SBA handle the influx of applications but solutions like the one from Citi can ease the pressure on the SBA; banks overall have been a bit slow to get lending as the terms have shifted as few times; small businesses can ill afford to wait and Citi hopes their solution have help streamline the process. Business Insider

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

    View all posts