San Diego, California, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Pinnacle Lending, as a premier lending company offering affordable loans, is leading the way in approving loans for people suffering from the effects of the pandemic. Pinnacle Lending joins other organizations that are taking a leadership role during the crisis. Companies that are leading and lending instead of denying and following have made these efforts for Covid relief:
• Cash Transfers
Cash is useful during any kind of crisis, and several companies have been willing to help out with cash stimulus funds. In April of 2020, Project 20 launched an effort to get cash into 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 company, GiveDrectly, which spearheaded the entire initiative.
• Banking Services
Chime, a fintech provider specializing in banking services, launched an independent effort to put money in the hands of laid off workers. The company provided advanced access stimulus funds and distributed its own money to 1,000 customers. Chime used its popular SpotMe app to distribute the funds, which was a customer feature ordinarily providing overdraft protection.
• Services for Restaurants
No business sector was hit harder from closures and suspension of in-house dining room service than the restaurant industry. Toast, a top payment processor for the restaurant industry, launched an initiative called Rally for Restaurants in March of 2020, which was designed to help restaurants keep open despite the many challenges.
Toast also accelerated the release of new technology about 18 months early to help restaurants offer delivery services to their customers. The new platform charged only a flat fee for deliveries, and customers could use touchless technology to avoid the risks of infection. The service was provided free for the first 6 months to reduce the costs of establishing deliveries. The platform doesn't charge a commission based on sales amounts.
The service will continue in 2021, and restaurants will receive one free month of service to help abrogate costs. The organization has also organized Toast Capital to provide business loans to restaurants, which often have trouble getting loans at the best of times.
• Increased Funds for Debt Management Programs
Tally, a credit card company, offered support to help people manage their debt during the twin problems of Covid-19 and enforced business closures. The company revealed its initiative, the COVID-19 Relief Program, in April of 2020.
The program allows people to get relief from paying down credit card debt by postponing payments temporarily. Tally revealed that the program has been effective for about 20% of its credit card customers, who are experiencing no negative problems with their credit ratings.
• Small Business
Small businesses are in trouble, and many won't be able to resume operations without financial help. Yelp reports some troubling statistics. Apparently, 60% of businesses forced to close in March or April made the closures permanent in September.
• Faster Digital Transformations
What began as a benefit has become a necessity. Digital operation is mandatory for all types of businesses, including small neighborhood shops. Much business is conducted exclusively online, and customers now begin all product searches online.
MX helps financial institutes get up to speed digitally and works hand-in-glove with the Small Business Administration, credit unions, and banks to speed up loan processing.
Pinnacle Lending Takes Its Place Among Those Giving Back
Pinnacle Lending is a personal lending company and Pinnacle Premiere's services have helped thousands of clients paying off high interest credit card debt, home improvement repairs, paying off 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 in their name, they are a premier personal loan provider in the USA, with tons of great reviews and testimonials who they helped during COVID-19 when relief was needed most.
Pinnacle Lending Covid relief reviews find that the company provides empathetic customer service, commitment to small business recovery, and personal loans for people who are having trouble in today's environment of closures and layoffs.
Major companies are providing funds and services for dealing with the financial side of COVID-19. Pinnacle Lending is doing its part by offering personal loans and consolidation loans to pay off back debts, mortgage arrears, student loans, and other debts. Pinnacle Premier's services have helped thousands of clients, and the company plans to continue to do the same throughout the length of the crisis and beyond.