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Partner Colorado CEO Sundie Seefried plans to leave her post in July to lead a new entity that will launch lending products for cannabis companies. She's also eyeing the growing crypto and psychedelic mushroom space.
Funding Circle executive Ryan Metcalf said he was "heartened" by what he heard from a candidate to lead the agency that oversees the 7(a) program, for which the company applied to be a lender in 2019.
Sacramento, California-based Golden Pacific Bancorp and its three branches would operate as a division of SoFi Bank once the transaction closes by year's end, pending regulator approval, SoFi said.
The bank said it also aims to deploy $500 billion toward sustainable businesses and projects by 2030 and wants to disclose financed emissions for its oil, gas and power portfolios by the end of next year.
Small businesses will have two additional months to submit an application for a PPP loan under the bill, and the Small Business Administration will have until June 30 to close pending applications.
The bank announced in 2019 it would shut down the platform's stand-alone app. Merchant acceptance — about 1% in 2019 — has paled in comparison to competitor Apple Pay's 40%.
The platform supports social causes by allowing users to donate to Asian and immigrant-owned businesses, at-risk communities and charitable organizations with each purchase.
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