Tagged: small businesses

Oxford Economics Reports That Lending Through Funding Circle’s Platform Unlocked 45,000 British Jobs in 2017

Funding Circle announced on Wednesday that a new report published by Oxford Economics revealed that lending through its online lending platform unlocked 45,000 jobs in the UK in 2017. It was reported that lending through Funding Circle’s platform contributed £2.4 billion to the economy and… Read More

Sberbank Offers More Than RUB 535 Billion in Loans to Russian SMEs Since Start of 2018

Sberbank announced on Thursday it has extended more than ₽535 billion in loans to SMEs since the start of 2018. The bank reported that over the first four months of 2018, lending to SMEs increased by 74.4% vs. the same period in 2017. “Sberbank has… Read More

Santander Plans to Launch New Stand-Alone UK Digital Bank for SMEs

Banking giant Santander is currently making preparation to launch a new stand-alone UK digital bank specifically for SMEs within the next few months. According to the Telegraph, The Spain-based bank is also considering bringing its digital lending service, Openbank to the UK as well. A spokesperson… Read More

SuperMoney Debuts Point of Sale Financing Platform For Small Business Growth

U.S. fintech startup SuperMoney announced on Monday it has launched its new No-Fee Financing Platform that offers point of sale financing opportunities for small businesses nationwide. The company reported that the platform making point of sale financing available for merchants and service providers across all industries including home… Read More

European Investment Fund & German Development Bank KfW Invest in UK Small Businesses Through Securitization of Loans Originated By Funding Circle

On Thursday, Funding Circle announced the European Investment Fund, part of the European Investment Bank Group, and KfW, a German Promotional Bank, are supporting UK small businesses through their investment in a securitization of loans originated by the Funding Circle online lending platform. According to… Read More

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

Earlier this week, Lendio announced its third annual Top 10 States For Small Business Lending list. According to Lendio, the list’s results were based on lending data from its online lending platform, which matches businesses to nearly 80 lenders. Lendio reported that the key findings… Read More

Virgin Announces Judges Joining Sir Richard Branson For Voom 2018

  On Monday, Virgin Media announced the judges who will be joining Sir Richard Branson for Voom 2018. The judges will decide which entrepreneurs win a share of £1million in prizes after pitching their big ideas live. Virgin reported that Founder of Innocent drinks Richard Reed, serial… Read More

OnDeck Prices $225 Million Initial Principal Amount Of Series 2018-1 Fixed Rate Asset-Backed Notes

Online lending for small business OnDeck (NYSE: ONDK) announced this week that it has priced $225 million initial principal amount of Series 2018-1 Fixed Rate Asset-Backed Notes in a private securitization transaction. According to OnDeck, the notes will be issued in four classes and were priced with a weighted average… Read More

Lendr Announces Launch of Business Debit Cards

Photo courtesy Wikimedia Commons

Lendr, a provider of flexible working capital to small- and medium-sized businesses, specializing in business finance and factoring solutions, announced on Monday it has launched a new business debit card product to service its growing client base.   Lendr reported that the ability to fund business owners in… Read More

Challenger Bank TSB Announces Plans to Create Lending Marketplace For UK Small Businesses

UK-based challenger bank TSB announced this week it is preparing to launch a new lending marketplace with a mission help small businesses across the UK get the funding their need to continue growth. The bank is partnering with Funding Options to launch the marketplace this… Read More

Lendr Partners With MidCap Financial Trust to Close $25 Million Senior Credit Facility

Lendr, a provider of flexible working capital to small- and medium-sized businesses, specializing in business finance and factoring solutions, announced on Thursday the closing of its $25 million senior credit facility. MidCap Financial Trust served as the Administrative Agent for the transaction. According to to duo,… Read More

Funding Circle Investors Lent More Than £113 Million to Over 1,700 UK Businesses in February 2018

On Wednesday, online lender Funding Circle announced investors lent more than £113 million to over 1,700 UK businesses throughout the month of February. Funding Circle also reported that over the last six months investors have helped more than 10,200 small businesses be able to gain access… Read More

iwoca Pledges to Lend £100 Million to Northern England Small Businesses

iwoca, one of Europe’s largest small business lenders, announced on Tuesday it is pledging to lend £100 million to micro and small businesses in the North of England by 2020. The alternative finance provider revealed the pledge is in response to the withdrawal of credit… Read More

Azlo Launches New Digital Banking Platform For Freelancers & Self-Employees

Azlo, a California-based fintech, announced on Thursday the launch of its new digital banking platform for freelancers and self-employed workers. According to the company, customers will now have access to dedicated business banking services instantly online, with no fees, minimum balances or confusing conditions. While sharing… Read More

Crowdcube Update: 500,000 Users & £400 Million Invested on the UK Equity Crowdfunding Platform

On Wednesday, Crowdcube announced half a million users have pledged over £400 million, of which £310 million has been successfully invested through its equity crowdfunding platform. the funding portal went on to list key stats about the crowd: The average investment size from an individual… Read More

Finnish Fintech Zervant Secures €6 Million Through Latest Funding Round Led By Tesi

Zervant, a Finnish fintech that provides online invoicing software for small businesses and entrepreneurs in Europe, announced on Tuesday it secured  €6 million through its latest investment fund, which was led by Tesi, with participation from Northzone, NFT Ventures, and Conor Venture Partners. Zervant explained that it… Read More

Kabbage Announces Partnership With TaxSlayer to Offer Small Businesses Access to Lines of Credit Up to $250,000

TaxSlayer, an online professional tax and fintech company, announced on Tuesday it has formed a strategic partnership with Kabbage, Inc., a global technology and data platform powering small business lending. According to the company, this new collaboration is set to offer qualified small business customers hassle-free… Read More

Biz2Credit’s Latest Small Business Lending Index Confirms: Small Business Lending Thrived in January 2018

On Tuesday, Biz2Credit announced the results of its latest small business lending index, which revealed that business loan approval rates for big banks (25.3%) hit another new high last month, with big banks (assets of $10 billion+) granting more than one-quarter of the small business… Read More

creditshelf to Now Offer Loans With Terms Up to Five Years; Maximum Loan Size Will Be Doubled

On Tuesday, German marketplace lender for SMEs, creditshelf, announced it is extending the maximum term of its arranged loans from 36 to 60 months. The online lending platform also reported that the maximum loan amount will double from previous €2.5 million to €5 million with… Read More

SmartBiz Loans Debuts AI-powered Digital Advisor Tool for Small Business Owners

SmartBiz Loans, an SBA loan marketplace and bank-enabling technology platform, announced on Wednesday the launch of its new AI-powered digital advisor tool for small business owners. The platform revealed that SmartBiz Advisor is an intelligent online platform that allows small business owners to easily and… Read More