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Strapped for Cash? Three Modern Ways To Take Out A Small Business Loan

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Source: Entrepreneur

Small businesses can often find themselves strapped for cash. When payroll is due, and accounts receivables are still high, cash is king. Even the most successful small business is susceptible to this type of crunch.

As a four time venture-backed entrepreneur from the Silicon Valley, who has raised a total of $18 million for my tech startups, I’d like to offer some advice to early-stage entrepreneurs in hopes to shed light on alternative avenues to raising money.

Consider diversifying your fundraising strategy by adding non-conventional fundraising options. These days, there are several options for entrepreneurs. Technology and finance are combining to provide creative solutions to help business owners push through monthly bills without the normal headaches.

The reality is new innovative options exist beyond banks for entrepreneurs looking to leverage their strengths while reflecting their modern know-how. Also, the more entrepreneurs diversify financing independence early on, the more power they gain to shape the dynamics with their board later on.

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May 12, 2019 |

Digital Lending Levels The Playing Field For Small Business Borrowers

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Source: Forbes

America’s largest banks have been shrinking their branch networks for the past several years, mostly by cutting back in relatively poor neighborhoods, according to a report in the LA Times. The report said that consumer advocates are warning that the closings risk widening the wealth gap by leaving scores of low-income areas with less competition for banking services such as personal checking and small-business lending.

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March 23, 2019 |

Women entrepreneurs gain ground, but still lack financing…

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Source: Wisconsin State Journal

“Women are the entrepreneurial leaders in Madison.”

That’s what Amy Gannon said, after the Doyenne Group’s 5X5X5 pitch contest on Wednesday — part of the eight-day Forward Festival celebrating entrepreneurship and innovation.

But at least two female CEOs in Madison say in the larger scheme of things, women entrepreneurs still have a lot of ground to make up — particularly, women of color.

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August 26, 2018 |

Fintech Lending Throws Banks Another Curveball

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Source: Nasdaq

Fintech is throwing banks another curveball. Kabbage on Thursday outlined how it has handed over around a fifth of the $5 billion it has lent to small businesses since 2009 at night or over the weekend. It’s one more way technology is upending the industry.

It’s no surprise that small-business owners aren’t nine-to-fivers. Just ensuring the core work gets done typically demands long hours, which leaves them nights and weekends for sorting out the paperwork for finances and the like. That’s often the case for individuals applying for anything from car loans to mortgages, too.

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July 6, 2018 |

In Georgia, Small Business Lending Is at an All-Time High

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Source: AP

ATLANTA (AP) — Lending for small businesses is at an all-time high in Georgia.

A recent report released by the Georgia Small Business Administration shows that $1.41 billion was loaned in the state last year.

In the last two quarters ending March 31, $650 million in loans were disbursed to small businesses statewide.

“The lending environment is much better than it was 10 years ago,” said Drew Tonsmeire of the UGA Small Business Development Center at Kennesaw State University, says the lending environment is much better than it was 10 years ago.

He said businesses are able to access different sources of funding aside from banks, such as SBA loans and lines of credit from online lenders.

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June 1, 2018 |

Big banks get green light to make small short-term loans

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Source: CNBC / MSN

Consumers who rely on payday loans to fill their budget gaps may have a new option to turn to: traditional banks. National banks just received the go-ahead to serve that market from their regulator, the Office of the Comptroller of the Currency.

On Wednesday, Comptroller of the Currency Joseph Otting called for national banks and federal savings associations to step into the short-term, small-dollar installment loan market.

These loans typically range from $300 to $5,000, according to the regulator. And that adds up to about $90 billion in loans taken out every year by millions of U.S. consumers.

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May 28, 2018 |

Seek Capital Partners with Small Business Funding Platform Lendza to Help Startup Businesses

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Source: Cision PRWeb

Seek Capital is the leading company for startup business funding in the United States. Lendza is a funding request service that matches small business owners seeking capital with a suitable lender. Today, the two companies are proud to announce a new partnership where Lendza will start connecting small business owners looking for startup business loans with Seek Capital.

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May 27, 2018 |

GreenSky, An Online Lending Unicorn, Raises Over $800 Million In IPO

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Source: Forbes

GreenSky, which facilitates loans for home improvement projects via a smartphone app and has quietly become one of the largest financial technology companies in the country, made its public debut on Thursday.

The Atlanta-based company saw shares end the day at $23.36, which was 1.5% higher than the $23 set on Wednesday evening. GreenSky had originally priced shares between $21 and $23 apiece. It also ultimately sold 38 million shares, above its original expectations to sell 34 million shares.

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May 27, 2018 |

Finitive Launches Alternative Lending Investment Platform

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Source: ABL Advisor

Finitive LLC, a financial technology platform providing institutional investors with direct access to alternative lending investments, announced the launch of its zero-fee platform.

Finitive, which commenced operations in August 2017, has received commitments for transactions with an aggregate capacity of $1.3 billion. Several asset managers and banks have committed capital for transactions in the consumer, renewable energy and commercial real estate lending sectors.

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May 22, 2018 |
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