Small Business in the News: October 17 - 23, 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 October 17-23, 2015.
SunTrust Bank Ranks As a Top 10 Small Business Lender
Since 2012, SunTrust Bank has climbed 7 spots to break into the Top 10 small business lenders in the U.S. In just two years, the bank has increased lending to $364.6 million in total approved dollars, a 44% year-over-year increase in dollar volume and a 41 percent increase in loans provided to small businesses. Wells Fargo Bank, Live Oak Banking Company and U.S. Bank topped the list for 2015. Read more...
Goldman Sachs Hiring New Team to Support Online Lending Unit
Goldman Sachs, widely considered the most powerful bank on Wall Street, has announced the hire of several key players for its new online lending platform. Seeking to compete with major firms like Lending Club and Prosper, the move is inspired by the demonstrated success of new fintech entities. The planned online lending unit is currently a team of six and is expected to grow to a team of about 100. Read more...
Square IPO Might Benefit From EMV Liability Shift
The recent announcement of Square's IPO filing by CEO Jack Dorsey could benefit from the need for small businesses around the country to upgrade payment terminals to support EMV transactions. The company has suffered significant financial losses in recent months, but the new readers could serve to bolster earnings since they will only be available at a price. Previous Square readers were free. Read more...
Only 5 States in the U.S. Receive an A+ for Friendliness Towards Small Businesses
The annual Small Business Friendliness Survey released by Thumbtack, an online lead generation and networking company for local professionals like photographers and dog trainers, documents the best and worst places in the country to launch a small business. Texas, New Hampshire, Utah, Louisiana, and Colorado earned an A+ for friendliness to small business while California, Connecticut, Illinois, and Rhode Island received an “F.” Read more...
Small Business Succeeds With Alternative Business Loan
A new case study documents the success of Prairie Creek Beverages, a consumer brand experience company for the wine and spirits industry that needed access to capital to expand to additional states around the country. The company qualified for and received a $200,000 12 month loan within days. Since then, business has increased sales by 35%. Read more...

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