San Diego, Calif., February 25, 2021 (GLOBE NEWSWIRE) – Pinnacle Lending, as the premier lender to provide affordable loans, is leading the way in loan approval for people suffering from the effects of the pandemic. Pinnacle Lending joins other organizations taking a leadership role during the crisis. Companies that lead and lend instead of deny and follow have made these efforts to take Covid relief:
• Cash transfers
Cash is useful during any type of crisis, and several companies have been willing to help with stimulus cash funds. In April 2020, Project 20 launched an effort to put money in the hands of needy families. Fintech companies provided $ 100 million to distribute to 100,000 families. Among the participating fintech companies were Propel, a community-based company that provides financial services, and the nonprofit, GiveDrectly, which spearheaded the entire initiative.
• Banking services
Chime, a financial technology provider specializing in banking services, has launched an independent effort to put money in the hands of laid-off workers. The company provided stimulus funds for advanced access and distributed its own money to 1,000 customers. Chime used its popular SpotMe app to distribute the funds, which was a client feature that typically provided overdraft protection.
• Services for restaurants
No line of business has been hit harder by the closures and suspension of on-site dining service than the food service industry. Toast, one of the leading payment processors for the restaurant industry, launched an initiative called Rally for Restaurants in March 2020, which was designed to help restaurants stay open despite many challenges.
Toast also accelerated the launch of new technology about 18 months earlier to help restaurants provide delivery services to their customers. The new platform only charged a flat fee for deliveries, and customers could use contactless technology to avoid the risk of infection. The service was provided free of charge for the first 6 months to reduce the cost of setting up deliveries. The platform does not charge a commission based on sales amounts.
Service will continue in 2021 and restaurants will receive a month of free service to help keep costs down. The organization also organized Toast Capital to provide business loans to restaurants, which often struggle to obtain loans at best.
• Increased funds for debt management programs
Tally, a credit card company, has offered support to help people manage their debt during the double trouble of Covid-19 and forced business closures. The company unveiled its initiative, the COVID-19 relief program, in April 2020.
The program allows people to get credit card debt repayment relief by temporarily deferring payments. Tally revealed that the program has been effective for about 20% of its credit card customers, who have no negative issues with their credit scores.
• Small business
Small businesses are struggling and many will not be able to resume operations without financial assistance. Yelp reports disturbing statistics. Apparently, 60% of businesses forced to close in March or April made the closures permanent in September.
• Faster digital transformations
What started as a benefit has become a necessity. Digital operation is mandatory for all types of businesses, including small neighborhood businesses. Much of the business is done exclusively online, and customers now start all product searches online.
MX helps financial institutes digitally upgrade and works hand-in-hand with the Small Business Administration, credit unions and banks to speed up loan processing.
Pinnacle Lending takes its place among those who give back
Pinnacle Lending is a personal loan company, and Pinnacle Premiere’s services have helped thousands of customers pay off high interest credit card debt, home improvement repairs, student loans, and other debt items.
Pinnacle has been in business for 4 years, not to be confused with any other mortgage or bank with Pinnacle on their behalf, they are a leading personal loan provider in the United States, with tons of great reviews and testimonials they have. they helped during COVID-19 when relief was needed most.
Pinnacle Lending Covid Relief Review Find out that the company offers empathetic customer service, a commitment to small business recovery, and personal loans to people struggling in today’s environment of closures and layoffs.
Large companies are providing funds and services to deal with the financial side of COVID-19. Pinnacle Lending does its part by offering personal loans and debt consolidation loans to pay off debt, mortgage arrears, student loans and other debts. Pinnacle Premier’s services have helped thousands of customers, and the company plans to continue to do so throughout the crisis and beyond.
