This is the chance that fintech companies have been waiting for, says BTIG analyst Mark Palmer. With many small businesses in crisis mode as the COVID-19 outbreak rocks the U.S. economy, PayPal Holdings Inc. (PYPL) , Square Inc. (SQ) and Intuit Inc. (INTU) have been approved by the Small Business Administration to distribute Paycheck Protection Program (PPP) loans. Palmer thinks the designation gives the companies a big opportunity to prove that they’re better equipped for lending than traditional banks because of their quickness and reach. Read More...
Square and PayPal finally have a chance to prove they can beat the banks
This is the chance that fintech companies have been waiting for, says BTIG analyst Mark Palmer. With many small businesses in crisis mode as the COVID-19 outbreak rocks the U.S. economy, PayPal Holdings Inc. (PYPL) , Square Inc. (SQ) and Intuit Inc. (INTU) have been approved by the Small Business Administration to distribute Paycheck Protection Program (PPP) loans. Palmer thinks the designation gives the companies a big opportunity to prove that they’re better equipped for lending than traditional banks because of their quickness and reach.
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