Small Business in the News: Dec 5 - 11, 2015

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 December 5 – 11, 2015.

Online Lender Prosper Funded San Bernardino Shooters

It has been revealed that Prosper, an online lender, provided a $28,500 loan to one of the San Bernardino shooters just days before the terrorist attack on Dec 2. Syed Rizwan Farook, the recipient of the loan, presumably used the money to purchase ammunition, pipe-bomb supplies, target practice and a rental car used during the attack. This has prompted the California Department of Business Oversight to launch a probe into 14 lenders, allegedly including Prosper and key competitor Lending Club. An attorney for online lenders defended the loan, saying that new and existing regulations wouldn't have been able to prevent this otherwise very typical transaction. Read more...

Small Businesses Selecting Group Plans for Health Insurance

While health insurance premiums continue to rise, some as much as 16% from 2015 to 2016, small-group policies that once were very expensive options are becoming affordable again. Thanks to the Affordable Care Act provisions, small group insurance has eased requirements and proved less volatile in price. This has encouraged more businesses with fewer than 50 employees to once again provide health insurance to their employees. Read more...

Millennial Business Owners are Changing the Face of Traditional Banking

As younger and less traditional entrepreneurs are entering the world of small business, and therefore small business finance, the old advice to cultivate a longstanding relationship with one institution is quickly falling aside in favor of diversification. Tighter compliance regulations for traditional banks have allowed nimble and less regulated online lenders to provide funding and products to small businesses seeking answers quickly. Traditional lenders will need to adapt to capture savvy business owners' interests in a very competitive space. Read more... 

Top 50 Small Business Predictions for 2016

On Thursday, Business News Daily released 50 small business predictions for 2016. Direct from the mouths of entrepreneurs and SME owners around the country, general consensus about next year is that it should provide strong growth opportunities but could also bring a new mix of challenges and complications. Consumer expectations, national legislation and cyber security are among the top topics generating concern for small businesses in 2016. Read more...

 

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