SBA loans, SoFi and Galileo take center stage

One week after the Small Business Administration launched its Paycheck Protection Program, banks and fintechs alike are still navigating best practices to get funding into the hands of small business clients. As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers. The week’s news wasn’t confined to coronavirus-related coverage. On Tuesday, SoFi announced it was acquiring Galileo for $1.2 billion, a move that could turn some of SoFi’s competitors into clients.