Tagged: small businesses

Australian Banking Group Westpac Partners With Coupa to Help SMEs Get Paid Faster

Australian banking group Westpac announced on Tuesday it has teamed up with Business Spend Management (BSM) company Coupe to help businesses more efficiently manage their spending within a comprehensive cloud platform. Westpac reported that through the partnership both it and Coupe will enable customers to… Read More

Lendio Franchising Facilitates $50 Million to Small Businesses

Lendio Franchising, Lendio’s marketplace lending franchise program, announced on Tuesday it has facilitated $50 million in loans to over 1,800 small businesses around the U.S. According to Lendio, the  loans through the franchise provide a boost to small businesses in industries ranging from healthcare to… Read More

Biz2Credit’s July 2019 Small Business Lending Index Reveals: Small Business Loan Approvals at Banks Hit Record Highs

Online lending platform Biz2Credit announced on Tuesday the release of its Biz2Credit Small Business Lending Index, which revealed approval rates for small business loan applications rose to another post-recession record (27.7%) at big banks ($10 billion+ in assets), while also climbing above 50% at small… Read More

Lendio’s Latest SMB Economic Insight Report Reveals Owners Remain “Bullish” When It Comes to Growth

U.S.-based online lending platform Lendio announced last week the release of its SMB Economic Insights report for 2019’s second quarter. The latest report revealed that small business loan inquiries increased by 57% over the previous three-quarter average, indicating small business owners continued appetite for growth… Read More

OnDeck Canada Announces Small Business Partnership With Coast Capital Savings

OnDeck Canada announced last week it has formed a new partnership with Canadian credit union, Coast Capital Savings, to accelerate online lending to Coast Capital small business members. According to OnDeck Canada, Coast Capital Savings small business members may now apply for term loan financing… Read More

Mastercard Expands Collaboration With Zoho For Small Business Tools

Mastercard announced on Thursday it is expanding its partnership with cloud-based platform Zoho to bring small business owners around the world products and services to make running their enterprise easier, more efficient and more profitable. “Every business is on a quest to increase efficiency and… Read More

Funding Circle Partners With Aviva Finans AB to Pledge €50 Million Towards Funding Loans For German & Dutch Small Businesses

Online lending platform Funding Circle announced last week it has partnered with Aviva Finans AB to pledge €50 million towards funding loans for German and Dutch small businesses. According to Funding Circle, the investment agreement facilitates the initial €50 million in small business loans over… Read More

OnDeck Announces “Summer of Small Business” National Campaign

OnDeck (NYSE: ONDK), a small business online lending platform, recently announced the launch of its new national “Summer of Small Business” campaign. According to OnDeck, the campaign spotlights the hard work and achievements of small business owners and as part of the event, CEO of… Read More

Funding Circle Collaborates With Merseyside Pension Fund to Launch UK Economic Impact Fund For British Small Businesses

Online lending platform Funding Circle announced on Monday it has teamed up with Merseyside Pension Fund to launch UK Economic Impact Fund for British small businesses. According to the duo, the UK Economic Impact Fund will give institutional investors including pension funds, insurance companies and local… Read More

Cross River Announces Acquisition of Small Business Banking Platform Seed

Cross River, a bank that delivers advanced financial and compliance products/services to the fintech industry, announced on Monday it has acquired Seed, an online small business banking technology platform. Through the acquisition, a new platform will build on Cross River’s growing suite of innovative Banking-as-a-Service (BaaS)… Read More

Equifax Announces New Partnership With Fintech Sandbox to Provide Access to Consumer & Commercial Data to Startups

Equifax announced on Thursday it has joined forces with FinTech Sandbox to help startups access consumer and commercial data from the Equifax platform. Participating startups pay no fees and no equity is taken. Equifax reported: “In addition to data, Equifax will give analytical support to… Read More

Xero Teams Up With Stripe to Offer Seamless Payments to Small Businesses

Xero (ASX: XRO), a global small business platform, announced on Wednesday it is teaming up with Stripe to provide seamless payments to millions of small businesses. Xero reported that the partnership will enable new payments experiences that are more seamless and efficient for small business… Read More

Kabbage Forms New Partnership with BTEA to Fuel Access to Funding for Women & Minority-Owned Businesses

Kabbage announced on Friday it has teamed up with the Building Trades Employers’ Association (BTEA), to provide access to fast and flexible small business funding for BTEA members through its global financial service platform. According to Kabbage, the collaboration will support women and minority-owned business… Read More

PayPal Provides Over $10 Billion in Funding to 650,000 Loans of More than 225,000 Small Businesses Around the World

PayPal (NASDAQ: PYPL) announced on Thursday it has provided more than $10 billion in funding through more than 650,000 loans to more than 225,000 small businesses around the world since providing access to its first loan more than five years ago. PayPal reported that its… Read More

Wirecard Announces Expansion of Offering With Unified Commerce Solution For Small & Medium Size Merchants

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Tuesday is supporting small and medium-sized merchants throughout Europe in their digital transformation by providing an expanded version of its SUPR online shop system. According to Wirecard, the system enables every retailer to set… Read More

Biz2Credit’s Latest Small Business Lending Index Reports: Small Business Loan Approvals at Banks Jumped Again in April

Biz2Credit announced on Tuesday the results of its latest Small Business Lending Index report, which revealed approval rates for small business loan applications reached a record high of 27.5% at big banks ($10 billion+ in assets) in April, up one-tenth of a percent from March, while  approval percentages at small… Read More

Australian SME Bank Judo Goes Live With Temenos

Temenos AG (SIX: TEMN), a Switzerland-based banking software provider, announced on Thursday that Judo Bank (formerly Judo Capital), an Australian SME challenger bank, has gone live in record time with Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels, a module of Temenos Infinity, running… Read More

Digital Lending Platform Esme Loans Hits £50 Million of Lending to UK Businesses

Esme Loans, the NatWest backed standalone digital lending platform for SMEs, announced last week it has hit £50 million of lending to UK businesses. The online lender reported that it has seen a continued period of strong growth, following an uplift in lending of 337%… Read More

OnDeck Announces First Quarter 2019 Financial Results

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Thursday its 2019 first quarter financial results. According to OnDeck, net income of $5.9 million, Adjusted Net Income of $8.3 million and gross revenue of $110.2 million. “Net income was $5.9 million, or $0.07 per diluted share, and decreased from the… Read More

Funding Circle Latest Report Reveals: Banks Give Small Businesses The Cold Shoulder One Decade After Financial Crisis

Online lending platform Funding Circle announced on Monday it partnered with Oxford Economics to launch a new report, called “Big Business of Small Business,” which revealed banks have been giving small businesses the “cold shoulder” one decade after the financial crisis, causing the businesses to fail… Read More

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