Tagged: small businesses

February 22, 2021 @ 7:34 am By Omar Faridi  |  

Chris Macklin, Chief Risk Officer at Assetz Capital, a peer-to-peer lender that originates secured loans, has provided a loan book update. As noted in a blog post by Assetz Capital, Macklin explained how the platform managed the loan book during the COVID-19 pandemic and shared… Read More

February 21, 2021 @ 6:32 pm By Omar Faridi  |  

OnDeck notes that the Small Business Administration (SBA) and US Treasury Department have resumed the Paycheck Protection Program (PPP) for First Draw Loans (on the week of January 11, 2021, and on January 13, 2021). OnDeck, which was acquired by Enova (NYSE:ENVA) last year, has… Read More

February 20, 2021 @ 7:48 pm By Omar Faridi  |  

European online lender October notes that in March 2020, the French State had announced a package of €300 billion in State-guaranteed loans (PGE) in order to support small and medium-sized enterprises during the COVID-19 pandemic. Following the amendment voted on in April 2020, lending marketplaces… Read More

February 19, 2021 @ 7:51 pm By Omar Faridi  |  

Southeast Asia-based Funding Societies, a digital financing platform, has revealed that it has made S$2 billion (appr. $1.5 billion) in disbursals of business financing to SMEs across the region as the company enters its sixth year of offering loans. Funding Societies’ management noted that the… Read More

February 15, 2021 @ 7:45 am By Samantha Hurst  |  

  STRYVE, a UK-based applicant tracking system (ATS) for small businesses provider, has successfully raised more than £380,000 through its equity crowdfunding campaign on Crowdcube. The funding round launched last month, originally seeking £280,000 in funding, and has attracted 225 Crowdcube investors. Founded in 2020,… Read More

February 14, 2021 @ 10:42 pm By Samantha Hurst  |  

  UK-based challenger bank Tide recently announced its Tide Charity has donated £175,000 to small businesses that have been impacted by the COVID-19 pandemic. According to Tide, the charity launched in November 2020 in partnership with the Daily Mail, Karren Brady, and The Federation of Small Businesses. Its mission is… Read More

February 13, 2021 @ 10:39 pm By Omar Faridi  |  

European online lender October notes that on February 8, 2020, they got a very good surprise when they found out that they had been ranked in the French Tech Next40 2021 ranking. October had also been recognized for its services in 2020, but claims it… Read More

February 7, 2021 @ 8:29 pm By Omar Faridi  |  

Deepika, who writes blog posts for LocalBitcoins, a peer-to-peer Bitcoin exchange, has asked whether there are any small business owners in India that accept BTC as a form of payment for goods and services. Deepika notes that it can be inconvenient when a small business… Read More

February 6, 2021 @ 4:35 pm By Omar Faridi  |  

SME or small business crowdfunding platform Siam Validus has reportedly received a debenture crowdfunding license from the Securities and Exchange Commission of Thailand (SEC). Siam Validus is a joint initiative between Singapore’s SME financing platform Validus and SCG Distribution, a Thailand-based firm that specializes in… Read More

February 5, 2021 @ 10:54 am By Samantha Hurst  |  

Barclays announced on Thursday it has joined forces with UK-based online pension provider Smart Pension to provide its network of 1,100 businesses with access to the Smart Pension platform. “Businesses that sign up through Barclays will be able to offer their employees access to the… Read More

February 2, 2021 @ 8:21 am By Samantha Hurst  |  

  LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, recently announced it has teamed up with Cross River Bank to open second round of Paycheck Protection Program (PPP) applications for small businesses. LendingUSA reported that small business… Read More

January 30, 2021 @ 10:12 pm By Omar Faridi  |  

The Cambridge Centre for Alternative Finance (CCAF) has revealed that their organization and the University of Cambridge Judge Business School are teaming up with the Inter-American Development Bank, which works to improve lives of people in the Latin America (LatAm) and the Caribbean region. We… Read More

January 27, 2021 @ 10:00 pm By Omar Faridi  |  

CIMB Bank Berhad and CIMB Islamic Bank Berhad have introduced CIMB CNY Go Digital for SMEs. This new product should help Asian businesses that are still facing challenges due to the COVID-19 pandemic, including those companies that are struggling to offer certain services because of… Read More

January 27, 2021 @ 7:46 am By Omar Faridi  |  

Banco Sabadell (BME:SAB), a Spanish multinational financial services company headquartered in Alicante and Barcelona, Spain, has reportedly invested €2.5 million in Nomo, an inhouse incubated initiative that spun out from the banking institution. The startup offers various business management tools for SMEs and sole traders…. Read More

January 23, 2021 @ 4:34 pm By Omar Faridi  |  

It’s never that simple or easy to borrow funds from friends or family members, however, that’s actually the uncomfortable reality for many small business owners globally who are often funded by their families or relatives. MoneyTurtle is offering a service that’s meant to formalize this… Read More

January 19, 2021 @ 11:07 pm By Omar Faridi  |  

Online balance sheet lender, Nucleus Commercial Finance, reports that it has secured a £200 million funding line, which should help with increasing the platform’s capacity or ability to support more UK-based businesses. The new funding line should help ensure that the lender is well-positioned to… Read More

January 19, 2021 @ 9:52 am By Samantha Hurst  |  

  dLocal, a U.S.-based cross-border payment platform, announced on Tuesday it has formed a new partnership with online lender Dinie to allow global merchants to offer installment payments to their customers in Brazil as a form of small business lending. According to dLocal, this collaboration… Read More

January 17, 2021 @ 10:37 pm By Omar Faridi  |  

Europe-based online SME lender October says there’s probably no need to describe or go over how our lives have been impacted by the COVID-19 outbreak. October claims that they had to “become economists, epidemiologists, and politicians” in order to cope with the challenges created by… Read More

January 15, 2021 @ 8:06 am By Omar Faridi  |  

Ireland-based Linked Finance, a peer to peer lending platform, has reportedly received record levels of interest from SMEs that are looking for government-backed loans. After recently being approved to serve as a Coronavirus Credit Guarantee Scheme (CCGS) provider,  Linked Finance claims it has received a… Read More

January 13, 2021 @ 10:46 pm By Omar Faridi  |  

Malaysia-based microLEAP, a platform that provides conventional and Islamic or Shariah-compliant peer-to-peer (P2P) financing options, has acquired RM 3.25 million (appr. $800,000) in capital. The platform’s investment round consists of RM 1.25 million in equity and a RM 2 million advance. The funds raised will… Read More