Retailers are pausing on loans—here’s why

Can banks be more than lenders? U.S. Bank certainly hopes so, as it’s introducing more back-office products geared toward SMBs. Meanwhile, the number of SBA loans and dollars is stalling due to businesses being more cautious about taking on loans. We get into what you need to know about small business banking right now.  

We’ll also dig deeper into safe-for-now TikTok’s Shop feature and how big brands and small retailers are reacting. Also, the fall items retailers say should be on your shopping list and the Latinos making waves on YouTube.

But first, check out this illustrated history of the American dollar.

Ready, set, shop. Here’s what top retailers say should be on your fall shopping list.

Bye-bye, ban. State Dept. says that TikTok deal to come under U.S. ownership is near.

Double tap. This Massachusetts boutique owner, for one, couldn’t be more thrilled about a possible deal to save TikTok.

Keep Austin weird. Local paper shouts out small businesses and announces monthly honors.

Lights, cámara, acción. Latino creators, including this retailer, honored on YouTube.

U.S. Bank grows small business offerings to become back-office solution for SMBs

U.S. Bank wants to be seen as more than a leading small business lender; it’s aiming to become a back-office solution for SMBs. This month, U.S. Bancorp, the holding company for U.S. Bank, rolled out Payroll and Bill Pay for Business, following the launch of a spend-management app for small businesses last spring. An accounts receivable function may be next, according to its Business Banking Chief Product Officer Shruti Patel.

"We constantly hear small businesses are really looking to their banks to provide integrated experiences," Patel says. "It's really our aim to provide a one-stop hub where small businesses can manage their finances," she says. In August 2024, a U.S. Bancorp poll found that entrepreneurs prefer financial services providers that can bundle business management tools along with traditional banking products.

Why this matters: The small business sector, which totals nearly 35M businesses, is not only the backbone of the U.S. economy, but also a huge source of deposits for banks. U.S. Bank has 1.4M small business clients, and it’s looking to deepen its relationship with them and gain more. It could be a win for SMBs looking to streamline their banking and back-office needs. (Yahoo Finance)

SBA’s 7(a) loans, dollars drop as small businesses concentrate on managing costs

The SBA’s 7(a) loan program provides loan guarantees to lenders, and it saw a sharp decrease in the number of approved loans and dollars in June, which has remained stagnant. Why? Erik Daniels, head of SBA lending at U.S. Bank, says that “softened demand that was more what I would call strategic patience by small business in terms of trying to understand what the world’s going to look like, especially those that are supply-chain dependent from other countries.” Huntington National Bank’s SVP Maggie Ference says, “What we see from time to time is people will start the application process, and they take longer, they’re taking time to be more reflective on their decisions, the size of some of the projects has changed.”

Why this matters:  Small business owners are struggling to plan in today’s economic climate, says Alexis D’Amato, government affairs director at Small Business Majority. “Even if they do need capital, they’re not sure what they need, and they’re not sure how big of a hole they want to dig themselves into if they can’t repay that for any reason,” she says. In other words, run the numbers before taking on any debt. (Politico)

Mark Zuckerberg expected to tout Meta’s latest smart glasses at upcoming event

1 in 4 Americans experience consumer fatigue: too many ads, subscriptions, emails

Deloitte predicts retail sales will increase this holiday season by about 3% 

What do mid-tier malls need to do to remain “evergreen?”

In unshocking news, Microsoft CoPilot does not improve productivity

How real-time feedback can enhance both shopper and employee experience

Miika Mäkitalo is CEO of HappyOrNot, the customer and employee feedback company known for its smiley-button terminals positioned in more than 4,000 airports, restaurants, stadiums and retail stores around the world. He posits that this micro-feedback technology, paired with training your staff to recognize and resolve customer dissatisfaction, can improve quality of life for both shoppers and employees. Proactively using data to identify and address recurring pain points can also develop a culture of continuous improvement and psychological well-being.   

“Shopping is often referred to in a positive light as 'retail therapy,' highlighting how consumers seek emotional and sensory pleasure, fun and gratification through the experience. When these hedonic expectations are blocked, it not only causes frustration but disrupts the pleasurable experience customers anticipate, intensifying negative emotions. When shopping becomes stressful or difficult, customers are less likely to return and employees are more likely to feel discouraged." –Miika Makitalo, CEO, HappyOrNot 

Why this matters: Over half of retail employees reported suffering burnout over the past year, and dealing with angry shoppers can be crippling if they lack the authority or tools to resolve issues in the moment. Empowering staff to help solve customer pain points could be easier with real-time feedback, such as HappyOrNot. (Retail Touchpoints)

TikTok Shop’s live selling lags behind short videos for U.S. shoppers

When it launched two years ago, TikTok Shop was a place for creators of all sizes to sell merchandise via short-form videos, mostly low-cost impulse buys like beauty products. When creators would post about other products, it sometimes led to viral moments for big brands like Pacsun. The Chinese platform, which appears to have worked out a way to keep operating in the U.S., is pouring money into making live selling a larger part of its business. Currently, it accounts for 18% of overall TikTok Shop sales, while pre-recorded short videos make up two-thirds of sales, according to Charm.io. While big brands like Crocs, Liquid I.V. and Glossier can afford to make live-selling bets, TikTok is also pouring money into improving the day-to-day selling and security for creators and brands who prefer pre-recorded videos.

Why this matters: TikTok Shop has enabled creators to become serious sales drivers while also propelling smaller retailers to scale. According to Charm.io, there were 11,800 creators selling there two years ago, and 184,000 by July 2025. Interestingly, the average price per item dropped 10%, from $21.45 to $19.11. (Modern Retail)

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The SKUpe is curated and written by Marcy Medina and edited by Bianca Prieto.