One of the biggest ways the federal government has attempted to aid small businesses during the coronavirus pandemic was the creation of the Paycheck Protection Program (PPP), which helps businesses secure forgivable loans and keep workers employed. The original $349 billion in funding for PPP, which was allocated by Congress as part of the CARES Act, ran out of money but $320 billion in new funding was approved in April. While traditional banks were originally the only lenders offering access to PPP loans to small businesses, fintech (financial technology) companies have now also been approved by the Small Business Administration (SBA) to accept applications and facilitate loans. These fintech companies have a role to play by helping small businesses that may not have an established lending relationship with a large bank, community bank or credit union. The fintech ecosystem is loaded with disruptive companies, though perhaps none more so than those in the lending sector. Employing artificial intelligence, big data and even blockchain, financial institutions — both new and old — are using technology to solve longstanding issues. Fintech lenders employ the latest financial technologies to streamline the traditionally out-of-date and non-transparent lending process. Not only has fintech given lenders the power to speed up their payment processing times and de-mystify their policies, but it has also given lenders the ability to offer personalized experiences based on each loan seeker’s needs. The market for consumer loans in the US is booming. According to data from TransUnion, last year, the total amount of consumer loans outstanding hit a record $138 billion, a 17% jump from the year prior.