News & Tips

PayPal Invests $50 Million in Black and LatinX-led Venture Capital Funds

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Source: Black Enterprise

Earlier this year, BLACK ENTERPRISE reported that PayPal had committed over $500 million toward advancing social change and closing the racial wealth gap within the United States. This week, as part of its commitment, the tech giant has announced that it will invest $50 million into early-stage venture capital funds for Black and Latinx businesses.

The investment will be distributed between eight Black and Latinx-led venture capital funds, including Chingona Ventures, Harlem Capital, Precursor Ventures, Zeal Capital Partners, Slauson & Co., and the Fearless Fund, and another fund that was not named.

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October 28, 2020 |

How Being a ‘Mompreneur’ Prepared Me to Run a Multi-Million-Dollar Business

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Source: Entrepreneur

Being a “mompreneur” has taught me everything I need to know and understand in running a successful multi-million dollar business operation. Some of the top strategies I use today resulted from my experience as a mom raising two children on the autism spectrum, but they could apply to all the other working moms (and dads) out there. Here are five of the most essential.

Read the full article: https://www.entrepreneur.com/article/403799

January 11, 2022 |

Your First Commercial Lease

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Commercial Lease | LoanNEXUS

Source: Business News Daily

Negotiating your first lease for office or retail space can be intimidating for new business owners. Here’s how to make the process go smoothly.
– A commercial lease should include the lease term and type, rent amount, security deposit details, permitted use clauses, exclusive use clauses, and details about maintenance and renovations.
– The most important thing you should do before you sign a commercial lease is to learn the language in it.
– Consider seeking out professional advice before you sign a commercial lease.
 

This article is for first-time commercial lease signers or lessees who want tips about what to look for in a commercial lease.

Read the full article: https://www.businessnewsdaily.com/7619-negotiate-commercial-lease.html

September 18, 2021 |

How a Bridge Loan Can Hold Your Business Over

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Business.com - Bridge Loan | LoanNEXXUS

Source: Business.com

Bridge loans are a form of short-term funding intended to help your business buy assets or complete projects.

A bridge loan is a form of short-term financing that is designed to help a company meet its obligations until it secures a long-term business loan. This type of business loan is commonly used in commercial real estate and other transactions where timing is key and businesses need to secure funds quickly in order to take advantage of an opportunity.

When a business takes out a bridge loan, it uses the proceeds to purchase or improve assets, or to finance its own operations. Then, once it secures long-term financing, it uses the funds from the new long-term loan to pay off the bridge. Businesses use bridge loans (which often carry interest rates several points higher than conventional long-term financing) to fill short-term funding gaps. These include asset purchases, such as real estate, equipment, and inventory.

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April 10, 2021 |

How Does the New Stimulus Package Affect You?

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Source: Entrepreneur.com

Like the CARES Act, the newest stimulus bill has brought significant changes not only to entrepreneurs but individuals, too. While some relief is immediate, some updates last through 2022. As with any new tax opportunity, it’s crucial to examine each and determine how you can maximize them. Here’s how the new bill will affect you.

Changes for entrepreneurs

The bill provided many changes to the Paycheck Protection Program. One of the biggest is that PPP expenses are now tax-deductible, and the forgiven loan is still not taxable income. However, small business owners need to do the due diligence to confirm if their state plans to follow suit. Not all states conform to Federal Tax Law, so it’s likely that states that need tax dollars (like California or New York) won’t conform. Business owners in those states should plan on higher state taxes this year.

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January 22, 2021 |

Finitive Launches Alternative Lending Investment Platform

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Source: ABL Advisor

Finitive LLC, a financial technology platform providing institutional investors with direct access to alternative lending investments, announced the launch of its zero-fee platform.

Finitive, which commenced operations in August 2017, has received commitments for transactions with an aggregate capacity of $1.3 billion. Several asset managers and banks have committed capital for transactions in the consumer, renewable energy and commercial real estate lending sectors.

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May 22, 2018 |

Big banks get green light to make small short-term loans

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Source: CNBC / MSN

Consumers who rely on payday loans to fill their budget gaps may have a new option to turn to: traditional banks. National banks just received the go-ahead to serve that market from their regulator, the Office of the Comptroller of the Currency.

On Wednesday, Comptroller of the Currency Joseph Otting called for national banks and federal savings associations to step into the short-term, small-dollar installment loan market.

These loans typically range from $300 to $5,000, according to the regulator. And that adds up to about $90 billion in loans taken out every year by millions of U.S. consumers.

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May 28, 2018 |

Seek Capital Partners with Small Business Funding Platform Lendza to Help Startup Businesses

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Source: Cision PRWeb

Seek Capital is the leading company for startup business funding in the United States. Lendza is a funding request service that matches small business owners seeking capital with a suitable lender. Today, the two companies are proud to announce a new partnership where Lendza will start connecting small business owners looking for startup business loans with Seek Capital.

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May 27, 2018 |

FinTechs Bank On Reimagining Business Banking

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PYMNTS - Fintech Business Banking | LoanNEXXUS

Source: PYMNTS

Business banking is being reimagined by FinTechs, in an interconnected way – one that, conceptually, creates a one-stop shop for enterprises to accept payments, interact with supply chains and tap working capital in order to finance growth.

Nowhere might that be more readily apparent than Square’s announcement that it has launched Square Banking, geared toward small businesses, combining a range of accounts and payment modalities in an effort to help those firms manage cash flow.

In terms of mechanics, the offering links checking accounts, savings accounts, cards and lending options.

It’s a move away from the payments processing core service that had marked its initial incarnation.

Connecting the checking account to the payments functionality would mean that funds gleaned from sales would instantly be spendable from the checking functions to, for example, pay workers through the Payroll function.

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July 23, 2021 |

Women entrepreneurs gain ground, but still lack financing…

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Source: Wisconsin State Journal

“Women are the entrepreneurial leaders in Madison.”

That’s what Amy Gannon said, after the Doyenne Group’s 5X5X5 pitch contest on Wednesday — part of the eight-day Forward Festival celebrating entrepreneurship and innovation.

But at least two female CEOs in Madison say in the larger scheme of things, women entrepreneurs still have a lot of ground to make up — particularly, women of color.

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August 26, 2018 |
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