Today In B2B: Pandemic Relief For SMBs, More

Today in B2B payments, lenders land SMB relief support in U.S. pandemic aid package. Plus, Contour completes blockchain trade finance transaction, Liberis raises funding for SME financing, Pakistan eyes digitizing supply chains, and Ripple faces SEC charges.

Pandemic Aid Package Provides Relief For Lenders To Help SMBs

The almost $900 billion U.S. pandemic aid package ratified by lawmakers Monday (Dec. 21) following months of debate will assist financial institutions by relaxing an important small-business lending initiative’s regulations, providing deferred loan payment accounting relief and bolstering the financial position of borrowers, Reuters reported. American Bankers Association Chief Executive Rob Nichols said, as per Reuters, that the deal provides multiple provisions supported by the ABA “that will allow banks to provide additional help to individual and business customers under financial stress from the pandemic.”

Contour Completes Blockchain Transaction Between Two Cos

Decentralized digital finance trade platform Contour has completed a pilot blockchain transaction between textile companies Tainan Spinning and Century Synthetic Fiber Corporation in Vietnam, according to a press release. The release also stated the transaction showcases the business growth in Vietnam and Taiwan. “As the world adapts to social distancing and post-COVID life, traditional methods of doing business will quickly be incompatible,” said Contour CEO Carl Wegner, according to the release.