Tagged: small businesses

Seed Launches Full-Service Digital Bank Alternative for Small Businesses

San Francisco-based Seed announced on Wednesday the launch of its new full-service digital bank alternative that is designed specifically for small businesses. While sharing details about the services, Brian Merritt, Co-Founder and CEO of Seed, stated: “Traditional banks have struggled to take care of their small… Read More

American Express Announces New Finance Product For Small Businesses

American Express (AMEX) announced on Thursday the launch of a new addition to its suite of business financing products, which are designed to help businesses with access to working capital and short-term financing, Business Loans. According to the financial service giant, Business Loans now gives small businesses… Read More

Biz2Credit’s New Small Business Lending Index Reveals: Bank & Institutional Lender Loan Approval Rates Climb in September 2017

On Tuesday, Biz2Credit announced the release of its latest monthly analysis, which revealed that Business loan approval rates at big banks ($10 billion-plus in assets) hit another post-recession high in September 2017. According to the report, Small business loan approval rates at big banks improved two-tenths of… Read More

Funding Circle Set to Support UK Small Business Growth Through Strategic Partnership With Aegon

On Thursday, online lender Funding Circle announced it has formed a strategic partnership with Dutch financial services group, Aegon, to support the growth of UK small businesses. According to Funding Circle, Aegon is set to invest in loans to UK small businesses through its lending… Read More

Lendistry Announces $3 Million Commitment From Community Bank & Forms a Partnership to Invest in Southern California Small Businesses

On Wednesday, technology-enabled small business lender and community development financial institution, Lendistry, announced it received a $3 million commitment from Community Bank. The companies have now teamed up to launch the Lendistry CRA Loan Fund I, which is a commercial small business (C&A) and commercial… Read More

Biz2Credit’s Latest Small Business Lending Index Reveals: Loan Approval Rates at Big Banks Reached New Post-Recession High in July 2017

On Tuesday, Biz2Credit announced the release of its latest monthly analysis, which revealed that loan approval rates at big banks ($10 billion-plus in assets) increased to a new post-recession high in July 2017 and the loan approval percentages of institutional investors also set a new… Read More

StreetShares Appoints Former Capital One Executive Heather Tuason As New Chief Product Officer

Financing military veteran-owned small businesses lender StreetShares announced appointed former Capital One Senior Vice President of Small Business, Heather Tuason, as its new Chief Product Officer. According to StreetShares, in her role as Chief Product Officer, Tuason will accelerate the growth of StreetShares lending and investment products… Read More

Fundera Survey Reveals: Majority of Small Business Owners Are Unaware of Available Financial Resources

Fundera announced on Tuesday the release of its new survey on the state of small business lending. The report asked small business owners about their experience with credit, lending, and financial resources. According to Fundera, the survey revealed that business owners do not know enough… Read More

LendingClub Expands Partnership With Opportunity Fund to Provide Underserved Small Businesses With Access to More Loans

Earlier this month, leading peer-to-peer lender Lending Club announced it has expanded its partnership with Opportunity Fund to provide underserved small businesses with access to loans they need in order to grow. Lending Club revealed: “Access to credit has long been a challenge for small businesses,… Read More

Biz2Credit’s Latest Small Business Lending Index Revealed: Loan Approval Rates Rebound at Big Banks in June 2017

On Tuesday, Biz2Credit announced its latest Small Business Lending Index revealed that loan approval rates at big banks, $10 billion-plus in assets, increased to post-recession highs in June 2017 while small banks, alternative lenders, and credit unions experienced a decline in the percent of funding… Read More

Assetz Capital Reaches 20,000 Investor Milestone; Announces Seven Figure Pre-Tax Profit in 2016/2017 Financial Year

P2P lender Assetz Capital announced on Thursday it not only turned a seven-figure pre-tax profit in the 2016/17 financial year, it has also reached its 20,000 investor milestone. The online lending platform confirmed: “From April 2016 to March 2017, a total of £126 million was… Read More

Biz2Credit Reports: Loan Approval Rates Drop at Banks & Alternative Lenders in May 2017

On Tuesday, Biz2Credit released its latest Small Business Lending Index that revealed loan approval rates at big banks, small banks, alternative lenders, and credit unions took a slight dip in May 2017. According to the lending platform, small business loan approval rates at big banks… Read More

Lendio Announces Pilot Agreement With Comcast Business

Marketplace lending platform for small businesses, Lendio, announced on Tuesday it has signed a pilot agreement with Comcast Business. This new agreement is reportedly designed to provide Lendio’s small business customers with quick and easy access to capital. Lendio explained that the collaboration would also… Read More

Fundbox Launches New Small Business Product “Direct Draw”

Fundbox, a cash flow optimization tool platform for small businesses, announced on Tuesday the launch of its new product, Direct Draw. According to the company, the Direct Draw product allows small businesses to easily apply for credit with just a business bank account, without requiring their… Read More

Biz2Credit’s Latest Small Business Lending Index Reports: Big Bank Loan Approvals Rates Improves Following Setback Month

On Tuesday, Biz2Credit released its latest small business lending index which revealed loan approval rates at big banks ($10 billion-plus in assets) rebounded in April 2017 after a setback month. The company reported that small business loan approval rates at big banks increased by two-tenths of… Read More

PayPal Launches New Small Business Tool “Business in a Box”

PayPal announced on Monday the launch of its new small business toolkit, Business in a Box. This news comes just after the payment giant revealed its PayPal Working Capital helped over 115,000 businesses around the world access more than $3 billion in loans and cash… Read More

Biz2Credit Names New York City The 2017 Best Small Business City in America

Biz2Credit announced on Tuesday it named New York City the 2017 Best Small Business City in America. According to the company, this vote was based on a weighted average that includes annual revenue, credit score, age of business (in months), and a BizAnalyzer score that factors in cash… Read More

Lendio Releases Annual List of Top 10 Best States for Small Business Lending

Marketplace lending platform Lendio announced on Monday its annual list of Top 10 Best States For Small Business Lending. The list is based on the lending data from the lender’s platform, which matches small businesses with over 75 lenders. Speaking about the list, Brock Blake,… Read More

Fifth Third Bank Expands Partnership With Accion U.S. Network to Fuel Small Business Growth in Florida, Indiana, Illinois, Michigan, & Ohio

Fifth Third Bank announced on Thursday an investment and expanded partnership with nonprofit small business lender network, Accion U.S. Network, to support lending to underserved small businesses in Florida, Indiana, Illinois, Michigan, and Ohio. The bank revealed that the partnership highlights its focus on championing… Read More

Biz2Credit March 2017 Report: Small Biz Lending Approval Improve at Institutional Investors & Small Banks But Stalls at Big Banks

Biz2Credit announced on Tuesday that its latest small business lending index revealed that loan approval rates at institutional investors and small banks improved in March 2017. Big banks’ ($10 billion-plus in assets) loan approval was stagnant during the month but remained at an all-time Index… Read More