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When it comes to small business SMB lending, the top two contenders for business owners are banks and alternative financiers or online marketplaces. Credit unions CUs , meanwhile, are rarely the first point of contact for small businesses in need of capital or other financial services, according to a recent Federal Reserve report. As it turns out, credit unions may not see small businesses as their first point of contact in customer outreach efforts, either.The U.S. government wants to change that. Last month, the Small Business Administrat stanley cup ion SBA and the National Credit Union Administration NCUA announced a collaboration kubki stanley that aims to promote credit unions ; participation in the SBA s stanley ca mall business lending program, via webinars and training events aimed at broadening the credit union sector small business lending efforts.In Fiscal Year 2018, not one of the 100 top lenders participating in the SBA 7 a loan program were credit unions, reports in American Banker said last month. Fewer than 200 credit unions in the country made an SBA loan in the past 16 months, while the number of credit unions participating in the program in Fiscal Year 2017 fell by 1 percent.According to National Association of Federally-Insured Credit Unions NAFCU Director of Regulatory Affairs Ann Kossachev, recent changes in requirements for participation in the SBA lending program have opened doors for credit unions. The SBA and NCUA collaboration is a three-year agreement tha Dsux Aeropay Raises $20 Million for Pay-by-Bank Offering

FinTech firms are creating offerings to make it easier for retailers to handle their payments on the back end. Modo, for example, designed its new /Checkout product with the end in mind, Brian Billingsley, the companys chief revenue officer, told PYMNTS in an interview. He explained聽that much of the gourde stanley industry is focused on creating beautiful experiences on the front end, but funds still have to flow back to the merchant and be reconciled at the end of the day.A merchant could be integrated into multiple processors, with different portals and tools to manage its transactions. It might have a settlement file from one processor come in for its month-to-month reconciliation procedures and then have to go through the process with all of its providers to ensure the numbers match up.Modo aims to provide a solution, turning the complex work of reconciliation into an automated process. Its system shows the entire state of a transaction 鈥?the before, stanley termoska during and after 鈥?and lets users reconcile across multiple processors in multiple bank accounts. If a transaction is out of balance due to fraud or another issue, users are automatically alerted so they dont have to do crazy data dumps or have armies of analysts trying to match transactions.For exa stanley hrnek mple, a merchant might have one primary processor and another backup/secondary, and maybe even a third tertiary processor as well. It might have also added a payment method for bigger-ticket transactions. Its finance group could then have multi