Small Business in the News: April 9-15, 2016

We know there is too much to keep up with when you’re a busy entrepreneur, so we compile small business news highlights each week for you to read only what matters most. Here is a summary of the top stories for April 9-15, 2016.

New Report Shows Alternative Finance is Booming

According to a new report published by KPMG, the Cambridge Centre for Alternative Finance and the Polsky Center at the Chicago Booth School of Business, the online alternative finance market is exploding in the US, generating more than $36 billion in funding in 2015, up from $11 billion in 2014. The report is comprised of data gathered from more than 250 online alternative platforms in the US. Read more…

Q1 State of Small Business Lending Revealed

Fundera just released their quarterly report on The State of Online Small Business Lending. The report uses data collected by Fundera to help educate lenders, bankers, borrowers, and business owners. This report focused on millennials and found that they seem to prefer lines of credit and equipment loans, had higher credit scores than non-millennials, and tend to ask for larger loan amounts than they receive compared to non-millennials. Read more…

Small Business Confidence Down

The National Federation of Independent Business (NFIB) said its small business optimism index dipped 0.3 point last month, a two-year low. The soft reading fits in with recent economic data on consumer and business spending as well as wholesale inventory investment. The index has slowly been dropping since December 2014. Read more…

Chase Business Lending Goes Live

Chase announced they are pre-screening their existing four million small business customers and will invite some of them to apply for a business loan of up to $250,000. The software is offered by OnDeck and the loan underwriting is handled by Chase. This partnership will launch on a limited basis and no date has been announced. Read more…

Are Investors Steering Clear of Online Lenders?

According to FactSet, shares of OnDeck and LendingClub plunged by more than half over the past 12 months and are among the 10 worst performing tech stocks that debuted in the U.S. since the beginning of 2014. Industry experts believe public investors are confused about how exactly to value fin-tech companies, as they could be considered a traditional lender or a high-growth tech company. Read more…

 

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