Industry News – November 20, 2018
November 20, 2018
PayPal and Square Quietly Grow Small Business Lending Using Data as Their Edge Over Banks
The tech companies have access to transaction history of sellers on their platform and often use that merchant’s sales data instead of a credit score – an advantage over some U.S. banks.
Big Banks Hit Record High Small Business Loan Approval Percentages in October
Small business loan approval rates for big banks reached another record high in October 2018, according to the Biz2Credit Small Business Lending Index.
Source: ABL Advisor
ApplePie Capital Milestone: Surpasses $300 Million in Franchise Business Loans
The company provides a wealth of financial choices for franchise entrepreneurs, with a diverse and growing network of capital providers and financing solutions, including growth capital, SBA and conventional loans, and equipment financing.
Source: Crowdfunding Insider
Google, National Business League Partner to Support Black Entrepreneurs
Google Inc. and the oldest trade association for black businesses in the United States are partnering to provide training programs, mentorship and technology access to small businesses.
Source: The Detroit News
Spotlight on Linda McMahon, Head of the U.S. Small Business Administration
During a tour of several of the SBA’s West Coast district offices, McMahon sat down with local entrepreneurs to discuss the direction of the SBA under her leadership.
Source: Sacramento Business Journal