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 | admin
Source: PYMNTS.com
Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that may change and which may find repayment challenging.
So, it’s within that context that PayPal announced new numbers today (May 29) on the impact of its lending business on the small business sector. To date, PayPal has issued more than $10 billion to SMBs through its various PayPal business financing options — a mark that underscores not only the demand for such capital, but how the proper deployment of digital technology can help with underwriting and loan origination for this significant sector of the U.S. and global economy. In a new PYMNTS interview, Karen Webster spoke with PayPal’s VP and Commercial Officer, Global Credit Darrell Esch about the story behind that $10 billion mark, and what’s coming next.
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June 2, 2019 | admin
Source: AP
ATLANTA (AP) — Lending for small businesses is at an all-time high in Georgia.
A recent report released by the Georgia Small Business Administration shows that $1.41 billion was loaned in the state last year.
In the last two quarters ending March 31, $650 million in loans were disbursed to small businesses statewide.
“The lending environment is much better than it was 10 years ago,” said Drew Tonsmeire of the UGA Small Business Development Center at Kennesaw State University, says the lending environment is much better than it was 10 years ago.
He said businesses are able to access different sources of funding aside from banks, such as SBA loans and lines of credit from online lenders.
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June 1, 2018 | admin
Source: NY Daily News
Getting a small-business loan in this economic climate can be tricky, but it is certainly not impossible with adequate preparation. When they make their decision, lenders will primarily look at your credit history, business plan, education and experience operating the kind of business you want the loan for, as well as the feasibility of the business. This guide will show you what you need to do to get a loan for your small business.
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June 7, 2019 | admin
Source: NerdWallet
Foreclosures can expand your homebuying options, but be aware of potential costs like repairs and extra fees.
The process for buying a foreclosed home varies depending on the current owner and how the house is being sold. These variables can also impact the price you pay when buying a foreclosed home.
If a home is in pre-foreclosure, the homeowner may try for a short sale. Properties that have been foreclosed on generally first go to a municipal auction sometimes known as a sheriff’s sale.
If a home doesn’t sell at auction, it becomes a real-estate owned, or REO, property. These are homes that have been repossessed by banks and mortgage servicers, who sometimes put them on the Multiple Listing Service or offer them for sale on auction websites.
Here are the basic steps of how to buy a foreclosed house.
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June 25, 2021 | admin
Source: BusinessInsider.com
You may want to refinance your student loans if you’re looking to snag a lower interest rate or get smaller monthly payments. With reputable lenders, you likely won’t pay any fees to refinance, but you may lose key protections if you refinance federal loans.
Unlike refinancing a mortgage, which can cost thousands of dollars in fees, refinancing a student loan is generally free. Reputable banks, credit unions, and online lenders won’t charge you to prequalify or apply to refinance with them, and there’s no amount due to get your loan from most lenders.
Here’s what different types of student loan fees mean:
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August 4, 2021 | admin
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 | admin
Source: Lendio
As the coronavirus (COVID-19) pandemic continues to spread, the federal government has allocated resources to support small businesses through economic hardship and hopefully restore some of the jobs lost (now at 9.6 million people according to the latest jobs reports) as a result of mass stay-at-home orders and business closures.
Given how quickly the rollout has come—and how many changes have happened along the way—many small business owners have been left scratching their heads, saying, “Wait a second, how do these SBA coronavirus loans work, and will my business even qualify?”
Great question. Let us answer it.
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April 5, 2020 | admin
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 | admin
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 | admin
