Small Business in the News: October 15-21, 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 October 15-21, 2016.

Forbes Releases List of Best & Worst Places for Business & Career

Forbes released their 18th annual report listing the best and worst places for businesses and career, which was largely influenced by millennial demographics. Overall, Denver was ranked as the top state, while Atlantic City was ranked as the worst. The study considered the largest 200 metro areas by population and 14 metrics were measured, such as income growth. Read more…

IBM Claims Macs Cheaper for Businesses

Big Blue released data this week showing Macs save $265-$535 per employee over a four year period compared to a PC. IBM stated there are twice as many PC customer support calls and that 73% of IBM employees want a Mac computer. Read more…

JPMorgan Chase Continues to Support Underserved Business Owners

JPMorgan Chase announced they are committing $75 million over the next three years to support women, minority and veteran-owned small businesses. The Small Business Forward program is a global initiative that was created to support small businesses with the potential to grow, offer quality employment, and create economic opportunity for vulnerable populations and their communities. Read more…

Facebook Now Allows Purchases in Facebook

Facebook announced this week that businesses can now allow customers to make purchases directly from the business’ Facebook page. This expansion is the latest move to go beyond just a platform for businesses to advertise on, and can now solicit orders, bookings, and appointments. Read more…

Lending Club Raises Interest Rates

Online lender, LendingClub Corp, raised interest rates for some loans and tightened their credit policy. The rate hikes will mostly affect loans that were deemed more risky. Read more…

OnDeck and Orchard Form Partnership

Orchard Platform announced an agreement with OnDeck to provide an automated and scalable solution to manage reporting for institutional investors purchasing OnDeck loans through OnDeck Marketplace. This unique partnership will help enhance portfolio reporting and analytics. Read more…

Moody’s Report Claims Online Lending is Unsteady

Moody’s Investors Service says in a recent report that online lenders are most active in unsecured consumer loans, student loans, and small business loans. The report noted that the model online lenders use to assess credit worthiness is positioned on unsteady foundation. Read more…

 

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