Lexi Reese, Chief Operating Officer of Gusto

Today, it is becoming relatively easy for non-financial services firms to add financial products as a new offering for their customers. We call this embedded finance where the product is embedded into a company’s full suite of offerings. We have seen this happen rapidly at scale with the Paycheck Protection Program (PPP).

Jared Hecht, CEO of Fundera

Every small business lender in the country has been focused on one thing only this month: the Paycheck Protection Program. The PPP was designed to be the savior of many small businesses but unfortunately the rollout has been anything but smooth. And we learned just yesterday the $350 billion has now gone with no more money expected in the short term.