Small Business in the News: February 18-24, 2017

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 February 18-24, 2017.

Hispanic Small Business Owners Optimistic About 2017 Revenues

A new study by Bank of America shows Hispanic small business owners across the country are more optimistic about revenue goals (71%) and hiring plans (51%) in 2017 than their non-Hispanic counterparts. Over the next 5 years, 76% predict business growth compared with 55% of non-Hispanic business owners. Read more…

New Report Offers In-Depth Look at Small Businesses in America

This week American City Business Journals revealed their Small Business Vitality report, which ranks 106 cities nationwide based on each city’s ability to foster the creation and development of small businesses. The top 3 cities with the largest increase in the number of small businesses over a 3-year span were Grand Rapids, Charlotte, and Winston-Salem. Read more…

New York Seeks Regulation with Fintech Lending

The recently introduced New York Budget Legislation would amend Section 340 of the New York Licensed Lender Law. New York is following the same steps as Colorado, Vermont, and West Virginia in seeking to regulate the bank-origination model.  Read more…

FedEx Launches Annual Small Business Contest

FedEx has launched their fifth annual Small Business Grant Contest, awarding grants and services to 10 small businesses.  U.S. based for-profit small businesses with fewer than 99 employees that have been in operation for a minimum of 6 months are eligible. The top 100 finalists will be named April 13 and winners will be named April 25. Read more…

SnapCap Announces New Credit Facility

Snap Capital LLC announced it has secured a significant revolving-to-term credit facility with Old Hill Partners.  The proceeds will be used to increase its ability to service small businesses that need short-term financing. Read more….

The Online Lending Policy Institute Gets First Leader

The Online lending Institute, a non-profit launched in September 2016, announced their new executive director, Cornelius Hurley. Hurley will help the institute determine best practices and provide research for marketplace lenders using fintech. Read more…

Large Expansion Ahead for SoFi

Social Finance (SoFi) is close to an agreement to secure $500 million in new venture capital funding to boost their online lending and personal finance offerings. The latest funding round may come as early as next week. Read more…

 

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