Small Business in the News: Nov 26-Dec 2, 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 November 26-December 2, 2016.

Lending Tree Launches $50k Business Grant Contest

LendingTree launched their first Small Business Grant Contest that will award one small business with $50,000. Applicants can apply now through January 13, 2017 and will be required to answer a series of 20 questions such as historical business performance, future plans, and why their business deserves to win. Read more…

Fintech Partnerships Have Boosted Revenue

A new survey now shows the benefits of partnerships between fintech startups and traditional banks. The report highlighted that 87% of respondents were able to cut costs by working with fintech providers, 83% said collaborations offered brand refresh opportunities, and 54% said the partnerships boosted their revenue. Read more…

Research and Markets Expect Huge Growth Over Four Years

Research and Markets has added a new report, the “Global Online Financing Platform for SMBs Market 2016-2020.” The report covers the current market scenario and estimates a CAGR growth rate of 53.06% from 2016-2020. Read more…

Third Quarter Earnings Up for US Banks

According to data issued by the Federal Deposit Insurance Corp (FDIC), U.S. bank earnings were up 13% from the prior year for the months of July-September. Banks reported bigger losses on commercial and industrial loans. Almost 61% of banks reported an increase in profit from the prior year. Read more…

First PR Network Dedicated to Fintech Launched

The Global Fintech PR Network is the first network of its kind to specialize in financial technology in the public relations space. The network currently consists of eight PR agencies in five continents. Read more…

Trump’s Plan to Repeal Dodd-Frank Unlikely

The president-elect has expressed intentions to repeal the Dodd-Frank financial reform law, which has been largely blamed for reducing bank loans to entrepreneurs and small business owners. Although that may seem like good news to entrepreneurs, the Dodd-Frank reform wasn’t the main cause of small business credit restrictions. Read more…

Bankers Losing Business Loans to Credit Unions

The Independent Community Bankers of America (ICBA) contends community bakers have lost millions of dollars in commercial loans to credit unions that can offer better loan terms. The ICBA believes a tax exemption extended to credit unions is to blame for the uneven playing field. Read more…

 

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