Bank loan

Banks Should Lead the Way to More Small-Dollar Loans

Having recently retired from a long banking career, I take pride in how our industry has improved the lives of most Americans. Seeing a customer start with a checking account, add a savings account, qualify for a credit card, auto loan, mortgage, and then benefit from asset management services are signs that things are going as planned. A bank's success and a customer's financial well-being are closely linked.

 

Bank collaboration could help lenders target small businesses

P2P business lending is the largest sector of the UK alt finance market, but in the US, the market is still driven by consumer lenders, which held a 71% share of the market last year.

Partnerships with banks could help US marketplace lenders that target small businesses compete more effectively by lowering costs and making customer acquisition easier, according to new research from Moody's.

Ghanaian Company Invests $9M in Failing Black Chicago Bank, Urges Africans and African-Americans to Help One Another

A Ghanaian firm stepped in right on time as a Black-owned Bronzeville bank was on the verge of collapsing. Groupe Nduom of Ghana invested a whopping $9M into the failing Illinois Service Federal Savings and Loan Association, now known as ISF Bank, Ghana Web reports. The bank was in search of capital to revive its struggling operations.

What Questions Should You Ask Your Lender?

Securing a small business loan isn’t easy following the financial crash of 2008 and the subsequent tightening-up of lending criteria. However, assuming your credit is in good standing, there may be a number of lenders – both alternative and conventional – competing for your business. So what are the key questions you should be asking before committing to a particular loan and provider?

This Is Officially the Best City in the World for Women Entrepreneurs

Sorry, Silicon Valley. When Aquila Leon-Soon was in the early stages of launching her startup, she was rejected for a loan by three different banks.

She also knew that another funding option, venture capital, was not a realistic one: Black women like her only raise about .01% of the VC money pulled in by the average successful startup.

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