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Factors to Look for While Getting Bad Credit or No-Credit-Check Loans

Factors to Look for While Getting Bad Credit or No-Credit-Check Loans

There are still plenty of great no-credit loans out there, but it can be hard to find them when you’re looking for an easy solution. A lot of people with low credit scores get overwhelmed by the process and wind up not realizing that some banks offer better options than others in their search results or even at all.

You can get a loan without a credit check history, but it will be easier for you if your past experience with debt is positive. Here’s how to prepare and what factors may affect the process:

Customer Service Reviews

The problem with previous loans might be that they were not read thoroughly enough. You can find some unsatisfied customers, but this is most likely because you failed to look at all the terms and conditions of their agreement before signing it.

Calculate the Digits Beforehand

Loans are a great way to get the funds you need, but it’s important for borrowers to know how much money they’re requesting. The smallest loan amounts range from $250-500 and most lenders offer at least 1000 dollars up until 2000+.

Repayment Terms

The best way to avoid an interest rate hike is by paying off your loan early. The ideal repayment period begins with 30 days and most lenders offer terms between six months- seven years long, however, it’s smartest for you in the long run if possible try not wait too much later on when rates may change again.

If you want to take out a longer loan, be prepared for the higher interest rates and increased monthly payments.

Interest Rate

If you’re looking for a low-interest rate, then it’s important to know that there are several factors that will influence your interest rates. Some of these include credit score and loan amount; but also repayment term length (in months). For example, an auto purchase with no payments made yet can come at anywhere between 3% – 29%.

Try to maintain a good credit score if you want the lowest possible interest rate and the shortest repayment period.

Time Frame for Repayment

When you need cash quickly, personal loans are a great option. You can choose from various lenders based on your income level and how much they offer in incentives for using autopay or lowering the annual percentage rate (APR).

When paying your loan back, the repayment period depends on whether you prefer smaller monthly payments to make it easier for yourself or larger ones with shorter intervals.

When you have a low monthly payment with an extended repayment period, it’s important to be aware of the higher interest rates that come from such borrowing. You may think your costs won’t increase but in reality, they will when there are smaller payments per month on top of what was originally owed for debt relief-or even just straightforwardly paying off old loans earlier than planned. The ideal range is between 35% and 43%.

There are different ways to get out of debt. One way is by eliminating your mortgage, personal loan payments or car loans and replacing them with a single payment for all three items that will continue throughout the duration on their terms. This can reduce total debts significantly over time if done correctly which makes it worth considering in some situations where there’s an overwhelming amount owed towards any one particular type.

Annual Percentage Rate

The annual percentage rate is the cost to borrow money for a year and includes any fees charged by your lender. Major credit bureaus don’t charge any extra but they do require you to sign up or origination amount before approval can be given.

When you take out a loan, there is an origination fee that will be deducted from your funds. It can range anywhere between 1% and 5%, but some loans have flat rate prices for this component too.

Credit Score

Before applying for a no-credit-check loan, be sure to take an honest look at your credit report. The idea is that you should get the best deal possible and there’s nothing more satisfying than knowing you got something great without having any money upfront.

Additionally, if you have a good history of payments with an existing relationship with a bank, they may approve your loan for a favorable deal.

The speed of loan

The funds from a loan that is not backed by a credit check are available to transfer to your account the day of your application. It could be up to one week in certain instances.

If the lender asks for documentation such as W-2s and pays stubs, you’ll be able to decide the rate of your loan.

Qualification Requirements

Loans that are not based on credit generally require scores of 620 or higher. The highest debt ratio is generally set at 45 percent. The debt ratio is the amount you owe each month in comparison to how much you make.

The majority of lenders require applicants to have a steady income to satisfy their low credit rating, while other lenders prefer those with at least a certain amount of income per year to qualify to receive a loan.

Certain lenders will check your earnings and employment status to determine your capacity to repay the money while others might require additional aspects of your financial life, such as the savings accounts you have.

If you’re deemed suitable in these categories, chances are you’ll be a reliable applicant if you require an unchecked credit check but no history of debt.

In addition, many lenders require a co-signer who can get a lower rate of interest if they have high earnings and credit.

A co-signer is required in case you do default. But, this could result in a negative relationship and a damaged credit score for the co-signer. So, you should be clear about the conditions.

Costs, Penalties, and Fines

The penalties and fees are charged if you don’t repay the loan within the deadline. They can include fees for charges for origination fees, returned checks as well as prepayment fees and late fees, fees for insufficient funds as well as processing charges.

Origination fees are the charges to facilitate the loan process with the lender. However, there are a few lenders that have this charge. The ones that do, however, usually charge an interval of 1% to the range of 6% to 1%.

The penalty for prepayment could be a huge drain on the savings you have made. But, it is contingent upon the lender and is typically an amount equal to the extra interest charges from the previous month.

While some lenders might offer grace periods, however, you’re likely to be assessed late fees by nearly all lenders. The way to address the issue is to get in touch with your lender and discuss the matter before you’re already late.

Not to be forgotten is the fee for returned payments The amount can vary, but it is generally approximately $15.

Impact of Personal Loans to Credit Score

It is crucial to realize the fact that having an installment loan will not directly improve your credit rating of yours. A personal loan that is used to settle the debt you have revolving you make changes visible to your credit rating of yours.

Personal loans are categorized as installment credit while credit cards are considered credit cards that are revolving. By using these two kinds of credit, you’ll be able to increase your credit score overall.

Discussions suggest that an eclectic credit mix may not always compensate for all the losses; however when you include an installment loan it, such as an auto loan or mortgage and so on. It could improve your credit score in general.

The check book enables faster payment disbursements for government agencies

DisclaimerThis article is a sponsored feature brought to you by Checkbook. The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the views or opinion of Global Banking & Finance Review and in no way an endorsement or recommendation. All investments and transactions involve risk, users of the GBAF website should consult a suitably qualified professional adviser for advice and conduct their own research. Accordingly, we will not be liable for any loss you may suffer as a result of any omission or inaccuracy on the GBAF Website and in the GBAF Content.

Over the past two years, the fallout from a global pandemic has affected workers in all sectors. For some – especially those working in restaurants, bars and other service sectors – the restrictions and closures have been particularly difficult. As a result, government agencies have worked to address this problem, providing essential grants and stimulus payments intended to help service workers, artists and other at-risk sectors weather the economic setbacks they have suffered. .

While these programs are important in helping Americans recover from the past two years, distributing the funds has been fraught with challenges — most importantly, recipients have struggled to receive the payments they need most. At Checkbook, they decided to solve this problem and simplify the payment process. Based in San Mateo, California Checkbook’s all-in-one push payments platform has enabled government agencies to deliver payments at scale, ensuring workers have immediate access to the funds they need.

As VP of Sales Clark Spink explains, Checkbook streamlined what was a tedious and often confusing process for recipients using payment platforms that require recipient registration.

“There has been massive confusion or opposition from the recipient side, as other payment processors require both the entity remitting the money and the recipients to be registered on the platform. does not require the recipient to register,” says Spink.

“I can login to my account now and send you a digital payment of $300, and you can choose to receive the digital payment via online deposit, print and deposit, instant payment (push to debit card) , a real-time payment or by provisioning a virtual credit card. Whatever you choose, Checkbook.io can provide digital payment instantly and without registration of the recipient.

Checkbook offers multiple ways for recipients to receive payments, and their scalable platform enables agencies to distribute thousands of payments in minutes, allowing these entities to connect with their recipients quickly and at scale. Checkbook has already partnered with several agencies in the United States, playing a vital role in helping workers survive the incredible challenges of the pandemic.

“Recently, we worked with a regional performing arts center to provide grants through our platform to musicians who have been affected by restaurant and bar closures during the pandemic,” says Spink. “For a lot of these musicians, they make money playing music in bars, and when the bars close, they can’t make money or pay their bills.”

Checkbook works with multiple government agencies and nonprofits to bring seamless, streamlined payment processing to the people who need it most, and as quickly as possible. In addition to their partnership to distribute payments to musicians in need, Checkbook has also enabled government entities to distribute emergency rental assistance programs to tenants and/or landlords.

However, their work has only just begun. While many payees and government entities struggle to find a payment processor that can meet their needs instantly, Checkbook is actively taking on new customers every day, quickly becoming the go-to resource for stimulus and grant payments. For Spink and the team at Checkbook, it’s critical they help people who need help now — and don’t have the luxury of navigating a long and confusing registration process.

“These government entities have money to disburse, and they need to find disbursement partners who offer their recipients convenience, immediacy and optionality all at the same time. Due to the emergency nature of these relief programs, these government entities will often have hundreds or thousands of applicants with varying needs after being approved to receive the program grant. These government entities must then flow the money to these people immediately,” Spink says.

“Checkbook.io is specially designed to help them disburse as well as help their recipients deposit without any hassle.”

To learn more about Checkbook, visit www.checkbook.io.

August 2022 PNC Bank Promotions – Forbes Advisor

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

PNC Financial Services Group is the sixth largest bank in the United States, with assets of over $500 billion. The bank has a multi-regional footprint that covers most of the United States and includes 2,600 branches, as well as approximately 60,000 PNC and ATM partners. PNC’s virtual wallet products look like traditional checking accounts, but they also include savings options.

PNC currently offers bonuses of up to $400 if you open a virtual wallet account. PNC is also urging business owners to consider its small business product line, with welcome bonuses of up to $500.

How can you earn a PNC Bank bonus?

PNC offers new customers the opportunity to earn a welcome bonus for opening a new business or personal checking account and completing qualifying activities. New customers include people who do not currently have a PNC bank account and who have not closed a PNC bank account in the previous 90 days.

Personal checking account bonuses require you to open an account and receive qualifying direct deposits into the account within 60 days.

PNC’s business bank account bonuses require you to open a new account and complete qualifying activities, such as maintaining a minimum balance for 60 days and making qualifying transactions using your business debit card linked.

PNC Bank currently offers welcome bonuses on business and personal checking accounts. The details below are accurate as of August 8, 2022.

PNC Bank Promotions for 2022

PNC Bank Personal Checking Account Bonus Offer: Earn up to $400

Banking products and PNC bonuses vary by location. For the purposes of this article, we refer to bank account and offers in the New York ZIP code of 10001. Visit the PNC website to find promotions specific to your location.

PNC’s Virtual Wallet is a personal checking account that comes in three tiers: Basic, Performance Spend, and Performance Select. In addition to checking (referred to as “Spend”), accounts may have a short-term savings component (“Reserve”) or a long-term savings option (“Growth”).

The basic PNC Virtual Wallet has a monthly service fee of $7 and includes reimbursement of up to two PNC fees at domestic or international ATMs outside of PNC’s network, as well as up to $5 reimbursement for ATM fees from other banks.

The PNC Virtual Wallet with Performance Spending has a monthly service fee of $15 and includes reimbursement of up to four PNC fees at domestic or international ATMs outside of PNC’s network, as well as up to $10 reimbursement for ATM fees from other banks.

account holders can use ATMs of other banks without fees charged by PNC. Plus, account holders receive up to $20 in ATM fee reimbursement from other banks per statement period. Virtual Wallet with Performance Select incurs a monthly service fee of $25.

New Account Bonus Money is only available if PNC offers its Virtual Wallet products to customers in your area. If you open your account online or over the phone, PNC will use your zip code to determine your eligibility.

  • What is the offer? Open a basic virtual wallet account and receive $500 or more in monthly direct deposits within 60 days to earn a $50 bonus. Or open a virtual wallet with a Performance Spend account and receive $2,000 or more in qualifying direct deposits within 60 days to earn a $200 bonus. Or open a virtual wallet with a Performance Select account and receive $5,000 or more in qualifying direct deposits to earn a $400 bonus. Receive $5,000 or more in qualifying direct deposits to earn a $400 bonus.
  • What is direct deposit? PNC defines a qualifying direct deposit as a recurring direct deposit of regular monthly income, such as a paycheck, pension, or Social Security benefits, into your checking account. Credit card advance funds transfers, wire transfers, person-to-person payments, transfers made between accounts, or deposits made at a PNC bank branch or ATM are not eligible.
  • When do you receive your bonus? Your virtual wallet account will be credited with your bonus within 60-90 days after all offer conditions have been met.
  • Is there a time limit on the offer? This limited time offer is available until August 31, 2022.
  • Can you avoid monthly service fees? The $7 monthly fee for the Basic Virtual Wallet Account is waived if you are over 62 or when you receive $500 in monthly direct deposits or maintain a minimum monthly balance of $500. The $15 monthly fee for Virtual Wallet with Performance Spending is waived when you receive $2,000 or more in monthly direct deposits, maintain a minimum monthly account balance of $2,000, or maintain a minimum balance of $10,000 on all of your PNC consumer deposit accounts.

The $25 monthly fee for Virtual Wallet with Performance Select is waived when you receive $5,000 or more in monthly direct deposits, maintain a minimum monthly balance of $5,000 on the account, or maintain a minimum balance of $25,000 on all of your PNC consumer deposit accounts.

PNC Bank Business Checking Account Bonus: Earn up to $500

PNC offers three levels of trade verification, differentiated primarily by the number of free trades offered each month.

If you just need the basics, the PNC Business Checking Account offers up to 150 transactions per month for a $10 monthly account maintenance fee. If your business requires more transactions, the PNC Business Checking Plus offers 500 transactions for a monthly fee of $20. For larger businesses, there’s the PNC Treasury Enterprise Plan, which includes 2,500 transactions per month and up to four additional checking accounts for a monthly maintenance fee of $50.

There is also the PNC Analysis Business Checking account, which offers the option to only pay for the banking services you use each month.

Welcome bonuses are reserved for companies with annual revenues of less than $5 million. PNC Bank does not mention any geographic restrictions.

  • What is the offer?
  • Or open a cash or business analysis business plan checking account and .
  • When do you receive your bonus? Your new customer reward will be credited to your eligible account within 90 days of meeting all offer conditions.
  • Is there a time limit on the offer? This offer is available to business customers opening a new account by September 30, 2022.
  • Can you avoid monthly service fees? Yes. The $10 monthly fee for Business Checking is waived when you maintain an average monthly balance of $500 or more or use a linked PNC business credit card to make at least $500 in qualifying purchases. You can also avoid fees if you open a PNC Merchant Services account and generate at least $500 in eligible monthly processing deposits.

The $20 monthly fee for Business Checking Plus is waived when you maintain a minimum monthly balance of $5,000 or use a linked PNC business credit card to make at least $5,000 in qualifying purchases. You can also avoid fees by opening a PNC Merchant Services account and generating $5,000 or more in qualifying monthly deposits, or maintaining an average combined balance of $20,000 or more in linked PNC checking and money market accounts.

The $50 monthly Corporate Cash Plan fee is waived when you maintain a minimum combined average monthly balance of $30,000 on the Primary Chequing Account and all linked Chequing Accounts.

The $25 monthly maintenance fee for the Analysis Business Checking account cannot be waived.

What else should you know about PNC Bank bonus offers?

Your bonus may be taxable

PNC notes that the value of your reward may be reported to the IRS on a Form 1099 and may be considered taxable. The bank recommends that you consult your tax advisor regarding the taxation of your bank bonus.

PNC Bank bonuses are for new customers

PNC Bank offers account welcome bonuses only to new customers who do not have an existing account with the bank and who have not recently closed an account. Additionally, PNC limits how often you can receive a new customer bonus.

Personal checking customers must not currently have a PNC Bank consumer checking account and must not have closed an account within the last 90 days. Additionally, personal customers can only receive one PNC promotional bonus every 24 months.

Similarly, business banking customers must not have a business checking account with PNC Bank and must not have closed a business checking account within the last 90 days. Business checking account customers are eligible to receive a promotional bonus once every 12 months.

These restrictions apply to all Account Signers, so if a Business Partner on the Account is already a PNC Customer or has recently received a Welcome Bonus, the Account may not be eligible to receive a Welcome Bonus.


PNC is a national bank, but the strength of its presence in branches and ATMs varies depending on where you live. We recommend checking PNC locations near you before opening an account. Depending on where you live, you may be able to get up to $400 for opening a personal checking account or $500 for opening a business checking account.

If PNC’s physical presence isn’t for you, or you find the direct deposit requirements difficult to meet, head over to Forbes Advisor’s list of the best bank bonuses to see what bonuses other banks are offering.

Find the best banking bonuses and promotions of 2022

Supply chain trends are reshaping small business operations

New trends in operations and supply chain goals are impacting costs, but also giving savvy entrepreneurs the opportunity to shine.

Press release

August 11, 2022 9:00 a.m. MST

EL PASO, Texas, Aug. 11, 2022 (Newswire.com) –
Leading invoice factoring firm Viva Capital says supply chain trends that began to take hold before the emergence of COVID are now in full effect, significantly impacting the operation of small businesses. companies and their profitability. Full coverage of the topic can be found in “11 Supply Chain Trends Affecting Businesses Today”, which is now live at VivaCF.net.

The report goes beyond commonly cited issues, such as rising supply chain costs, to reveal issues that directly impact spending and operations. Shorter product lifespans, for example, require more efficient supply chain management. About 50% of company revenue currently comes from products launched in the last three years, the article notes. The ability to scale with customer demand adds another layer of complexity. Even still, Greg DiDonna, president and partner at Viva Capital, says many of the latest supply chain trends directly benefit businesses.

“There’s been a bigger move toward AI, automation, and globalization,” says DiDonna. “These things naturally minimize costs and will reduce them further as the technology becomes mainstream.”

He says these are things even small businesses can leverage, especially as supply chain as a service, or SCaaS, and supply chain management support services (SCM ) on demand continue to grow. Although this does not prevent rising costs, they help to reduce their impact. Companies that focus on conscious supply chain management can close the gap even further.

“We’re seeing businesses expand to meet consumer demand,” DiDonna continues. “Around two-thirds of consumers want to work with sustainable brands and seven in ten show a preference for brands that share their values. Many take the opportunity to share their supply chain story as part of the story of their brand.

DiDonna notes that these things increase perceived value for consumers, which often allows brands to raise prices. Still, he acknowledges that companies sometimes struggle to make ends meet when adopting new technologies and adjusting their marketing strategies. Viva is seeing an increase in invoice factoring from business owners who want to improve supply chain management or reach new markets as a result. The company offers immediate payment on B2B invoices, allowing businesses to invest in growth or purchase supplies without going into debt, as is often the case with most financing solutions.

Small business owners interested in invoice factoring or alternative financing solutions are encouraged to request a free consultation at VivaCF.net.


Founded in 1999, Viva helps B2B businesses of all types accelerate cash flow with specialized financing solutions such as factoring, accounts receivable financing and asset-based lending. Their simple qualification process makes it easy for small and medium-sized businesses to obtain vital financing despite lack of credit or time in business. Additional information is available at VivaCF.net.


Armando Armendariz
[email protected]

Source: Viva Capital financing

Real-time payment transactions in Nigeria jumped 95% in 2021 –

Nigeria looks to real-time payments to help drive economic growth and financial inclusion, with real-time transaction volume increasing year-on-year by 94.7% to 3.7 billion in 2021, according to a recent Prime Time for a real-time report.

The report in its third edition was published by ACI Worldwide, in partnership with GlobalData, a leading data and analytics company, and the Center for Economics and Business Research.

It tracks real-time payments volumes and growth in 53 countries, including an economic impact study that provides a comprehensive view of the economic benefits of real-time payments for consumers, businesses and the wider economy. in 30 countries.

Further analysis of the report also showed that in the ranking of the most developed real-time payments markets in the world, the country ranks sixth behind South Korea (7.3 billion), Brazil (8, 7 billion), Thailand (9.7 billion), China (18.5 billion). million) and India (48.6 billion).

A real-time payment is a payment processing network used to send money electronically. It offers consumers and businesses cheaper, faster and more efficient ways to pay.

“Nigeria is one of the countries where real-time payments offer the greatest opportunities for economic growth. Its transactions in 2021 resulted in estimated cost savings of $296 million for businesses and consumers. This unlocked $3.2 billion in additional economic output, representing 0.7% of the country’s GDP,” the report said.

He also said that with real-time transactions expected to reach 8.8 billion in 2026, net savings for consumers and businesses are expected to climb to $2.3 billion.

“This would help generate an additional $6 billion in economic output, equivalent to 1.01% of the country’s projected GDP.”

Also Read: NBCC Reports 73% Revenue Growth with New Members and Increased Business

ACI’s Worldwide analysts also noted that the country, which is traditionally a cash economy with a growing population, expects higher speeds, greater simplicity and modern thinking from financial service providers. .

“Cash is still king, but this shift demonstrates the success of government regulators in fostering rapid growth in digital openness, especially payments. There is now a continued drive in the country to extend this momentum to cross-border use cases,” they added.

In Africa’s largest economy, NIBSS Instant Payments (NIP) is the country’s real-time payment system. Launched and developed by Nigeria Inter-Bank Settlement System (NIBSS) in 2011, NIP is an account number-based real-time online interbank payment solution.

And over the years, Nigerian banks have exposed the PIN through their various channels i.e. internet banking, bank branches, kiosks, mobile applications, Unstructured Supplementary Service Data (USSD), points of sale (POS), automatic teller machines (ATM), etc. .to their customers.

According to the NIBSS, PIN volume increased to 1.4 billion in the four months of 2022, representing a 4% increase from over 999 million recorded in the same period last year. .

“The COVID-19 pandemic has also encouraged consumers to switch from cash to electronic payment methods, which has further supported the growth of real-time payments,” the report points out.

He further added that the NIBSS launched NQR, a national interoperable QR code standard in March 2021 to facilitate instant P2B and P2P payments by scanning QR codes.

“This will further catapult the use of real-time payments, helping it register a CAGR of 18.6% from 2021 to 2026 in terms of volume.”

Wole Abegunde, Chairman of e-tranzact, said the Nigerian e-payments industry is still poised for continued growth as alternative payment channels evolve, even with more and more players offering payments. without touching.

“Favorable demographics and regulatory support are major enablers and grounds for expectation of accelerated growth in the industry.”

Globally, real-time transaction growth increased by 64.5% to 427.7 billion in 2021, from 118.3 billion in 2020. By region, South and Central America with 51.3%, Middle East, Africa and South Asia (32.6%), North America (30.2%), Europe (23.0%) and Asia-Pacific (15.0%) record growth fastest real-time transactions.

The report recommends that in thinking about a strategy for 2022 and beyond, banks in the African region must position themselves to respond to changing and shifting consumer payment behaviors and greater cross-border interoperability.

“Banks should therefore view the market as entering a new phase of strong opportunity and assess whether the technology they are currently using is fit for purpose.

“Rather than thinking of an account-based system, a card-based system and an EFT platform, they should move to a service-based architecture with a central platform where services are consumed regardless of or the channel from which a request is initiated.

“This is all long-term thinking. Since regulations will dictate at least part of this journey, it is up to banks to seize the moment and build beyond today’s short-term demands. This will help them build a business strategy that is future-proof and more fully aligned with the needs of modern Nigeria,” he concluded.

behind the american small business problem

By Luc LaHaie, Co-founder and co-CEO of novelty

The Salvation of America’s Small Businesses Lies in Access to Capital

Small businesses are the lifeblood of America, accounting for 44% of national GDP, creating 62% of new jobs, and representing 99.9% of all American businesses. Despite recent government efforts to support entrepreneurs, small businesses are failing to keep up with big business in today’s economic landscape.

Plagued by limited and unaffordable funding, almost all small businesses are undercapitalized. This problem is not new. Created in 1953 to protect the interests of small businesses and encourage competition in the private market, the Small Business Administration (“SBA”) was the government’s solution to an emerging problem: small businesses needed specialized support to access to capital resources that were otherwise readily available. to large companies. Although the SBA allocates funds for small business loans, it is not a direct lender and cannot bear the brunt of small business capital inefficiencies alone. While the SBA leaves banks, credit unions, and other financial institutions clear guidelines for making loans to small businesses, there is no practical method for the SBA or its lenders to underwrite, process, and manage these large-scale loans. .

The 2020 Paycheck Protection Program (“PPP”) has catalyzed a new era of issuance for the SBA, using new channels to disburse $798 billion to small businesses across the United States. This program, although adopted for emergency use, revealed the depth and breadth of the small business market not previously highlighted in traditional SBA loan programs, such as 7(a) loans. In 2021, the SBA approved less than 200 7(a) loans under $25,000, excluding SBA Express. By comparison, the SBA approved 3.2 million PPP loans for businesses of a similar size in 2020 alone.

Although PPP has demonstrated small businesses’ appetite for capital, it has not yet become economically practical for banks and credit unions to issue these loans to small businesses, and therefore, they do not. . Today, 29% of businesses fail due to lack of funding. Banks with the most fiscal and human capital support only part of the market with small business loan approval rates of 14.3%. Until banks provide the time, staff and capital to implement programs to save the issuance of small business loans, entrepreneurs will suffer the consequences of our misaligned financial system.

In the absence of affordable alternatives, small business owners are forced to either avoid loans altogether, despite being a key part of business growth, or settle for high-priced loans that are often easier to obtain. Approval rates for credit cards and merchant cash advances are close to 84%, but the cost of these financing mechanisms forces small business owners to allocate a portion of their loan proceeds to cover the interest on their monthly payments. Using debt to pay for the debt needed to grow a business is significantly less efficient at interest rates over 20% compared to typical single-digit interest rates for large business loans.

As entrepreneurs resort to high-interest loans in the absence of effective alternatives, more than 70% of small businesses are going into debt. For businesses that grow and mature, obtaining lower-cost loans becomes increasingly difficult due to their poor credit scores, which are cited for 36% of loan denials. Subsequently, small business owners often find themselves trapped in a vicious cycle of dependence on high interest loans due to their inability to obtain a cheaper alternative.

The current national labor shortage, estimated at more than 11.3 million vacancies, has exacerbated the damage caused by the inability of small businesses to secure low-cost financing. With limited capital to deploy, small businesses cannot compete with the higher salaries offered by larger companies, which severely hampers their recruiting efforts. Beyond annual compensation, small businesses cannot provide perquisites marked by corporate culture. Small businesses can’t afford break rooms, child care, and well-stocked transportation. With inflation hitting 9.1%, small businesses are also recruiting from an ever-shrinking pool of talent who can afford to ignore extra perks like free meals and snacks.

Retaining talent is just as difficult for small businesses. More than 61% of employees would change jobs to benefit from health insurance. It would be less of a problem for small businesses if the average cost of insurance per employee had not increased by more than 9.6% for small businesses in 2021. For employees who decide to leave small businesses for more large, the cost to a company to replace an employee can range from 50% to 200% of the employee’s annual salary. When a small business re-ignites its job search, it may also fall victim to the flight to safety, revealed by a 2020 Harvard Business School study. In the wake of the COVID-19 pandemic, researchers found that experienced job seekers sought larger, established companies rather than their risky counterparts.

Technology would seem like an obvious solution to small business staffing challenges, but implementing new technology isn’t easy or cheap. The importance of technology investments is repeatedly highlighted in the company’s annual growth targets, as evidenced by JP Morgan Chase’s $12 billion technology spend. To keep pace with the progress of larger competitors, experts recommend that small businesses spend 6.9% of their total revenue on technology. In fact, small businesses are investing closer to 2.6%, which leaves them even further behind their competitors as the world becomes more and more digital. While large companies are implementing artificial intelligence to make their systems smarter and their employees more efficient, smaller companies are struggling to deploy basic technology equipment. 36% of small businesses focus solely on infrastructure, implementing the use of laptops, desktops, servers, phones, and storage. Without the funds to integrate simple technology, the gap will continue to widen between small businesses and their corporate counterparts.

The essential

America is indebted to the ingenuity and tenacity of its countless entrepreneurs. The Small Business Administration‘s continued efforts to place capital in the hands of small business owners are to be celebrated, but the SBA still needs the help of financial institutions to accomplish its mission. Enabling equitable access to capital is the only way to ensure equal opportunity across the country to maintain the hope and promise of the American dream.


  1. https://www.sba.gov/sites/default/files/2020-07/PPP%20Results%20-%20Sunday%20FINAL.pdf
  2. https://www.inc.com/young-entrepreneur-council/avoid-these-4-big-reasons-small-businesses-fail.html
  3. https://www.forbes.com/sites/rohitarora/2022/01/12/why-small-business-loan-approval-rates-are-climbing-at-a-snails-pace/?sh=2cad00d61264
  4. https://www.renolon.com/small-business-debt-statistics/
  5. https://www.fundera.com/resources/small-business-lending-statistics
  6. https://www.usinflationcalculator.com/inflation/current-inflation-rates/
  7. https://www.statista.com/chart/8326/perks-of-persuasion_-the-benefits-employees-would-change-jobs-for/
  8. https://www.fiercehealthcare.com/payer/employer-insurance-costs-jumped-2021-and-future-murky
  9. https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx
  10. https://hbswk.hbs.edu/item/flight-to-safety-how-economic-downturns-affect-talent-flows-to-startups
  11. https://www.jpmorganchase.com/news-stories/tech-investment-could-disrupt-banking
  12. https://www.techtarget.com/searchcio/resources/IT-spending-and-budgeting
  13. https://tolarsystems.com/how-much-should-your-business-spend-on-technol/
  14. https://www.allbusiness.com/technology-budgets-small-businesses-spending-121049-1.html

Shopify Alternatives | HTMLGoodies.com

Many say Shopify is the best platform to build and maintain an online store, but what if you want to explore your options? We’ll help you do just that with this list of Shopify alternatives.

If you’re leaning more towards building an online store or eCommerce with WordPress, consider taking a few courses to help you better understand the content management system (CMS). We have a great article highlighting the best online WordPress courses to get you started.

Advantages and disadvantages of Shopify

While many find Shopify ideal as an e-commerce platform, it has its pros and cons just like anything else. If you find that the disadvantages of Shopify outweigh its advantages, you can consider one of the platform alternatives listed in the section following this one.

Benefits of Shopify

Below are some of the most notable advantages and advantages of Shopify for e-commerce and online stores.

  • User-friendly – Some may find Shopify’s multitude of features overwhelming. Even then, you should find the platform easy to use once you practice and familiarize yourself with all it has to offer. And yes, this is true even if you have never built an online store before.
  • Easy to start – There is no need to invest time or money in learning coding or web design to launch your online store. With Shopify, you can get started by opening your account, choosing a template, and adding products.
  • Tons of templates – It won’t be difficult to give your online store the look and format you desire, thanks to Shopify’s 170+ templates. And if you want to add a custom touch and design your own template, you can do so through the Liquid programming language.
  • Easy to scale – Chances are you are building an online store or brand with the hopes of expanding its reach later. Shopify makes this possible with various features designed to scale your business, such as Shopify Markets, which lets you sell across borders, and Shop Pay, which lets your customers log in to all Shopify stores with the same identifier.
  • Lots of apps – You can easily expand the functionality of your online store with the free and paid selections available in the Shopify App Store. Use it to add every bell and whistle you desire to give your customers the most enjoyable shopping experience possible.
  • Multiple payment processors – You cannot make a profit if your customers cannot pay you. Fortunately, Shopify works with many payment processors, including Shopify Payments, Stripe, and PayPal.
  • 24 hour support – Even the slightest problem could result in a lot of money lost with your store. This is why you want to make sure that the e-commerce platform you choose has 24-hour support, like Shopify does.

Disadvantages of Shopify

Below are some of the disadvantages of Shopify to consider when reviewing the website builder platform for e-commerce and online stores.

  • It is mainly focused on stores – Yes, you will probably choose an e-commerce platform mainly because you want to sell physical or digital products. But what if you also want a full website filled with other content? Some say Shopify struggles a bit in this regard, and adding regular content like blog posts can be tedious.
  • Not the most SEO friendly – You might have the prettiest store on the planet with the best products, but if no one sees it, you won’t see the sales you desire. Search engine optimization (SEO) tackles this problem by propelling you to the top of search engine rankings, but Shopify fails here. While not a complete trade-off, Shopify does have some issues, such as rigid URL structures, that can hamper your SEO efforts compared to other platforms.
  • Transaction fees – Although it is not the only platform that charges transaction fees, some may see it as a disadvantage as it can negatively impact your store results.
  • Separate email hosting – You need to consider this additional cost when using Shopify, as it is not included.

Alternatives to Shopify

As you can see, Shopify isn’t the perfect e-commerce platform, even though it’s considered by many to be the best out there. Here’s a list of some of Shopify’s top competitors, in no particular order.


Wix Website Templates

For those looking to get into e-commerce as a part-time side hustle or as a
a hobby, Wix can suffice as the platform of choice for building stores. It is ideal for small online stores and has all the features you would need such as automated sales tax, product reviews, subscriptions, recurring payments, dropshipping, label printing, etc., but you can look for an alternative if you are looking to evolve. and grow later.

Wix can help you create and run an online store for less than Shopify, making it ideal for entrepreneurs on a tight budget. Beginners can easily use Wix to create a store, create blog posts, or create engaging landing pages. All of Wix’s templates are free, unlike Shopify, and it also has no transaction fees.

Where does Wix fall short? There are few eCommerce options on the Wix App Market. Most features are for US-based stores. Finally, Wix lags when it comes to multilingual stores, especially when it comes to SEO.

Choose Wix over Shopify if you already have a website on the platform or are familiar with its features and site builder.

Read our sister site, Software Pundit’s Overview of Wix to learn more: Wix Review, Pricing, and Features.


BigCommerce WP Plugin

If you want to dream big and plan to build an eCommerce empire with your online store, BigCommerce may be the perfect fit. The platform was designed for massive stores and far outstrips Shopify in terms of product variants with 600 under its belt compared to just 100 for its main competitor.

BigCommerce might be the best platform for SEO, which is great for increasing visibility and building your brand. It also does not charge any transaction fees.

Some of BigCommerce’s downsides include no option for multilingual stores, limited apps, and a lack of usability when building standard content pages. And if you exceed a certain sell threshold, you will move to a higher price level.

Choose BigCommerce over Shopify if you want to bypass transaction fees and seek ultimate product management when building a massive store.


WooCommerce WordPress

Do you know WordPress? Then WooCommerce can be your best bet as an e-commerce platform and alternative to Shopify, as it is a WordPress plugin that can help you run an online store.

WooCommerce benefits include plenty of free and paid templates that you can customize, as well as plugins for almost every eCommerce feature you can think of, including payments, multilingual stores, and more.

While highly scalable and customizable, WooCommerce falls short on its usability, or lack thereof. Setup takes a while, which can be a downside for some looking to get started with a minimal learning curve.

That said, choose WooCommerce as an alternative to Shopify if you like working with WordPress.

We have a great article comparing WooCommerce to other eCommerce platforms if you want to learn more: Magento vs Shopify vs WooCommerce Comparison Guide.

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Squarespace Website Builder

Squarespace is known for its ability to help beginners create great looking websites. And while Squarespace wasn’t launched as an e-commerce platform, it now has the ability to create online stores.

The platform excels in its SEO, and if you want to set up a blog alongside your store, Squarespace will help you do that easily. Whether you want to sell physical or digital products or offer a subscription or service, you can do it all here. And with Express Checkout, you can make those sales fast.

There are two significant downsides to Squarespace. The first is its limited apps (extensions) which fall far short of Shopify’s offerings. The second is that it’s not too newbie-friendly and may take some practice before you get comfortable with building your store.

Why choose Squarespace as an alternative to Shopify? It’s a cheaper option that can create an eye-catching store, and its blogging features are pretty solid, unlike Shopify, which focuses more on e-commerce and selling.

Read our Squarespace vs WordPress comparison to learn more about this popular Shopify alternative.

Disclaimer: We may be compensated by vendors who appear on this page through methods such as affiliate links or sponsored partnerships. This may influence how and where their products appear on our site, but vendors cannot pay to influence the content of our reviews. For more information, visit our Terms of Service page.

What is the impact of Binance (BNB), Cardano (ADA) and Mehracki (MKI) on the fashion industry?


06 August 2022 18:45 STI

New Delhi [India]August 6 (ANI/ATK): The fashion industry has been haunted by counterfeit products for years, as companies take credit for luxury fashion designs, creating cheaper, lower-quality products at sell with tags attached.
This has had an impact on the reputation of major fashion houses, as counterfeit products break easily and are less impressive. Interestingly, fashion houses have turned to the metaverse for their answer.
By creating a digital twin of their products, luxury fashion brands can sell products with online verification of their legitimacy. By ensuring consumers receive this digital copy with their product, brands and shoppers can guarantee they’re getting the real deal. One way to do this is to create NFTs, as they have a unique code on the blockchain. Binance (BNB) is one of the leading NFT platforms, while Mehracki (MKI) is a new coin on the block, facilitating easy cryptocurrency payments like Cardano (ADA). To read some comparisons on Mehracki (MKI) and other coins, read here.
How do NFTs work on the Binance blockchain?
Binance NFT has launched a beginner-friendly keystroke feature, allowing verified Binance users to create their own NFTs. NFT is short for Non-Fungible Token. NFTs are digital data references that may contain images, video, or audio. They are stored in a blockchain (for example the Binance blockchain) in the form of a distributed ledger. When someone buys an NFT, which would happen at the same time as buying a luxury fashion item, ownership is recorded on the blockchain.

As NFTs are uniquely identifiable assets, they are valuable for luxury fashion brands. By providing a digital twin of the fashion item, the unique NFT code can be verified by the buyer and seen on the blockchain – proving the product is unique and not counterfeit. Overall, the fashion industry lost over $100 million to counterfeit products in 2021, so using NFT verification through Binance could be a game-changer for the industry.
Cardano (ADA) and Mehracki (MKI) facilitate crypto payments for commodities
The luxury fashion industry was one of the first to break into the cryptocurrency scene by accepting crypto payments. As more and more people buy cryptocurrency coins, the payment method is gradually becoming more mainstream. To stay ahead of the competition, luxury fashion brands have started accepting payments in cryptocurrencies, and Cardano and Mehracki are two coins making this accessible.

Most payment processors accept major cryptocurrencies as a form of payment, allowing the merchant to keep it as their native currency or switch to fiat currencies (like Pounds, Euros, and Dollars). Cardano (ADA) is one of the best coins, making it one of the best payment choices.

Mehracki (MKI) is a new coin on the block making real applications. It makes important connections with host institutions and businesses to make transactions as easy and accessible as possible. Mehracki (MKI) is currently on pre-sale and with these significant connections looks to be a very successful new piece.
For more information on Mehracki (MKI), follow this link.
Mehracki Token (MKI)
Presale: https://buy.mehracki.io/register
Website: http://mehracki.io
Telegram: https://t.me/Mehracki_Official
Twitter: https://twitter.com/MehrackiToken
This story is provided by ATK. ANI will not be responsible for the content of this article. (ANI/ATQ)

Validea John Neff Strategy Daily Upgrade Report – 06/08/2022

JHere are today’s updates for Validea Investor with low PE model based on the published strategy of John Neff. This strategy looks for companies with persistent earnings growth that are trading at a discount to their earnings growth and dividend yield.

NEWTEK BUSINESS SERVICES CORP (NEWT) is a small cap value stock in the investment services sector. The rating under our John Neff-based strategy rose from 60% to 79% depending on the company’s underlying fundamentals and stock valuation. A score of 80% or higher generally indicates that the strategy has some interest in the stock and a score above 90% generally indicates strong interest.

Company Description: Newtek Business Services Corp. is an internally managed non-diversified closed-end investment company that acts as a business development company. The Company’s investment objective is to generate both current income and capital appreciation through loans issued through its corporate finance platform and its equity investments in certain portfolio companies it control. It owns and controls certain portfolio companies under the Newtek brand which provide a range of business and financial solutions to small and medium-sized enterprises (SMEs). Its products and services include business lending, including small business administration (SBA), electronic payment processing, managed technology solutions, data backup, technology consulting, e-commerce, accounts receivable and inventory, personal and business insurance services, web services, data backup. , storage and retrieval, and payroll and benefits solutions for nationwide SMB accounts across all industries.

The following table summarizes whether the stock meets each of the tests for this strategy. Not all criteria in the table below are given the same weight or are independent, but the table provides a brief overview of the stock’s strengths and weaknesses in the context of the strategy criteria.



Complete Guru Analysis for NEWT

Full Factor Report for NEWT

TRIPLE POINT GROWTH IN BUSINESS BDC CORP (TPVG) is a small cap value stock in the investment services sector. The rating under our John Neff-based strategy rose from 60% to 79% depending on the company’s underlying fundamentals and stock valuation. A score of 80% or higher generally indicates that the strategy has some interest in the stock and a score above 90% generally indicates strong interest.

Company Description: TriplePoint Venture Growth BDC Corp. is a privately held, non-diversified, externally managed investment company. The Company’s investment objective is to maximize its total shareholder return primarily in the form of current income and, to a lesser extent, capital appreciation by lending primarily with warrants to early stage companies. focused on technology, life sciences and other high-growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capitalists. The Company targets investment opportunities in growth-stage companies backed by venture capitalists. The Company primarily originates and invests in loans with a secured collateral position and used by growth-stage businesses to fund their continued expansion and growth, equipment finance and, on a selective basis, revolving loans . The company is managed by TriplePoint Advisers LLC.

The following table summarizes whether the stock meets each of the tests for this strategy. Not all criteria in the table below are given the same weight or are independent, but the table provides a brief overview of the stock’s strengths and weaknesses in the context of the strategy criteria.



Full Guru Analysis for TPVG

Full factor report for TPVG

NATIONAL LINCOLN SOCIETY (LNC) is a mid-cap value stock in the insurance (life) sector. The rating under our John Neff-based strategy rose from 60% to 79% depending on the company’s underlying fundamentals and stock valuation. A score of 80% or higher generally indicates that the strategy has some interest in the stock and a score above 90% generally indicates strong interest.

Company Description: Lincoln National Corporation is a holding company that operates several insurance and pension businesses through subsidiaries. The Company operates through four segments: Annuities, Pension Services, Life Insurance and Group Protection. The Annuities segment provides its clients with opportunities for investment growth and tax-deferred lifetime income by offering variable annuities, fixed annuities (including indexed) and indexed variable annuities. The Pension Plan Services segment provides employers with pension plan products and services, such as LINCOLN DIRECTOR group variable annuity, LINCOLN ALLIANCE program and multi-fund variable annuity. The Life Insurance segment offers life insurance products, including term insurance and others. The Group Benefits segment offers non-medical group insurance products and services, including short-term and long-term disability, statutory disability, and paid family medical leave administration.

The following table summarizes whether the stock meets each of the tests for this strategy. Not all criteria in the table below are given the same weight or are independent, but the table provides a brief overview of the stock’s strengths and weaknesses in the context of the strategy criteria.



Full Guru Analysis for LNC

Full factor report for LNC

PREFORMED PRODUCTS COMPANY (PLPC) is a small cap value stock in the Miscellaneous. Manufactured goods industry. The rating under our John Neff-based strategy rose from 60% to 79% depending on the company’s underlying fundamentals and stock valuation. A score of 80% or higher generally indicates that the strategy has some interest in the stock and a score above 90% generally indicates strong interest.

Company Description: Preformed Line Products Company, together with its subsidiaries, is a designer and manufacturer of products and systems used in the construction and maintenance of overhead, ground and underground networks for energy, telecommunications, cable operators, information ( data communication) and other similar industries. The Company’s products include energy products, which are used to support, protect, terminate and secure power conductor and fiber communication cables and to control cable dynamics; Communication products, including protective enclosures, which are used to protect fixed communication networks, such as fiber optic cables or copper cables, from moisture, environmental hazards and other potential contaminants, and special industries products, including hardware assemblies, pole line hardware, resale products, underground connectors, solar hardware systems, guy wire markers, tree guards, fiber optic cable markers, pedestal and urethane products.

The following table summarizes whether the stock meets each of the tests for this strategy. Not all criteria in the table below are given the same weight or are independent, but the table provides a brief overview of the stock’s strengths and weaknesses in the context of the strategy criteria.



Complete Guru Analysis for PLPC

Full factor ratio for PLPC

More details on Validea’s John Neff strategy

About John Neff: Although known as the manager many top managers trusted with their own money, Neff was far from the high profile, talkative Wall Streeter one would expect. He was gentle and low-key, and the same could be said of the Windsor Fund, which he managed for more than three decades. In fact, Neff himself described the fund as “relatively prosaic, boring, [and] However, there was nothing dull about his results. From 1964 to 1995, Neff guided Windsor to an average annual return of 13.7%, easily outpacing the 10.6% return of the S&P 500 during that period. That 3.1 percentage point difference is huge over time. — a $10,000 investment in Windsor (dividends reinvested) at the start of Neff’s tenure would have returned more than $564,000 by the time he retired, more than double what the same investment in the S&P would have returned (about $233,000). Given the length of his tenure, this record could be the best ever for a manager of such a large fund.

About Validea: Validea is an investment research service that tracks the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, Click here

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

MLO Mentor: The Adjustable Rate Mortgage, Part II

MLO Mentor is an ongoing series covering compliance best practices for Mortgage Loan Originators (MLOs). This article discusses the purpose, popularity and elements of the adjustable rate mortgage (ARM). Rewatch part 1 of MLO Mentor: The Adjustable Rate Mortgage.

The purpose and popularity of ARMs

A adjustable rate mortgage requests periodic adjustments to the interest rate and the dollar amount of scheduled payments. This is in contrast to a fixed rate mortgage (FRM)which has a fixed interest rate and fixed scheduled payments.

Apart from the market factors that created the demand for all types of mortgages, ARMs are usually very popular when house prices are high or FRM interest rates are high. In the past, ARMs allowed borrowers to leverage an ARM’s lower interest rate, or even original interest rate, into a higher rate. purchase price.

In addition to the greater purchasing power they initially provide to a borrower, ARMs may attract borrowers who are considering:

  • move within the fixed period of the loan;
  • refinance the loan at a lower rate after improving their credit; and or
  • using the money saved by ARM’s lower interest rates in higher yielding investments.

Unfortunately, these plans do not always materialize. During the Millennial boom, many loan originators have fallen into the trap of advising their borrowers to get a very short term ARM in hopes of refinancing to a fixed rate loan before the end of the fixed rate period. But when it came time to refinance, the house securing the property had lost valueor the borrower had lost his job.

Additionally, the terms of some of the most Creative ARMs also contained ticking time bombs which, upon refinancing, exploded in the face of the borrower.

All ARMs contain these four elements:

  • an introductory interest rate;
  • An index;
  • a margin; and
  • an adjustment interval.

The introductory interest rate

The introductory interest rate is the initial rate on the ARM. The introductory interest rate is sometimes called a teasing rate. This rate remains fixed for a fixed period, called introductory period. The introductory period can range from one month to ten years, depending on the type of ARM.

Lenders can set the introductory interest rate at a discount to the index, or at their option, depending on whether they want to attract borrowers for ARM loans. But in most cases, the introductory interest rate is lower than the rate that will be known during the rest of the loan.

In the past (and certainly during the Millennium Boom), many lenders guaranteed borrowers’ loan applications based on this introductory interest rate. When the introductory interest rate was adjusted, borrowers were often unprepared for the increase in payments, a phenomenon known as payment shock.

However, repayment capacity rules (which entered into force in 2014) oblige lenders to guarantee borrowers on the basis of a fully indexed rateor the highest rate that may be possible on the ARM for the first five years of its term.

Related article:

Customer Q&A: What is the difference between an Adjustable Rate Mortgage (ARM) and a Fixed Rate Mortgage (FRM)?


The index is the first of the two elements that determine the adjusted interest rate after the introductory period. An ARM is said to be “linked” to an index. The index is essentially a rate at which the loan adjusts. As the index goes up and down, so does the ARM interest rate.

ARM interest rate adjustments can be tied to any of a variety of indices. Each index adjusts according to different criteria, defined by the “owner” of the index. Common indexes for ARMs are:

  • 11th District Cost of Funds Index (COFI);
  • Treasury average over 12 months; and
  • Secured Overnight Funding Rate (SOFR).

The COFI is compiled monthly and based on the previous month’s cost of funds actually incurred by lenders. Since the COFI is fixed monthly, it is suitable for ARMs since it is a short-term benchmark.

The 12-month Treasury average is published as a weekly average by the Federal Reserve Board. It is based on the average yield of Treasury securities 12 months from their remaining maturity. This yield is based on the amount paid by winning bidders on Treasury securities in the over-the-counter stock market.

Obviously missing from the list of common ARM indexes is the London Interbank Offered Rate (LIBOR). LIBOR has been the index of choice until 2021 – but is now discontinued. The last one-week and two-month LIBOR parameters were published on December 31, 2021. The Intercontinental Exchange will continue to publish one-month, three-month, six-month and twelve-month LIBOR parameters until mid-2023. This extension will give existing contracts a new opportunity to terminate or be restructured.

Related article:

LIBOR phase-out begins December 31, 2021. Are you ready?

With the disappearance of LIBOR, the backup rate of choice is the Overnight Guaranteed Funding Rate, administered by the Federal Reserve Bank of New York. Unlike LIBOR, SOFR is less susceptible to manipulation and fraud. This rate is based on completed transactions, in particular on overnight funds guaranteed by Treasury securities.

For housing, buyers choosing ARMs have already started to see SOFR in their ratings. Starting in 2020, Fannie Mae and Freddie Mac’s regulatory agency, the Federal Housing Finance Agency (FHFA)prohibited the purchase of any LIBOR-indexed ARM with maturity dates beyond the December 31, 2021 deadline.

The FHFA also worked to help Fannie Mae and Freddie Mac transition to SOFR. Greater reliability of reported rates will come with greater protection for homeowners with ARM and consumers with other types of credit.

Whatever the index, its objective is the same: to approximate the evolution of the cost of credit.

Regulation D requires that the index used is:

  • readily available and verifiable by the borrower and beyond the control of the creditor [12 CFR §1004.4(a)(2)(i); or
  • based on a formula or schedule identifying the amount the interest rate or finance charge may increase, and the circumstances under which a change may be made to the interest rate. [12 CFR §1004.4(a)(2)(ii)]

Basically, the lender cannot arbitrarily, and opaquely, make changes to a consumer’s interest rate on an ARM. Changes must be made within a transparent fashion.


The margin is the second element that determines the adjusted interest rate after the introductory period. Margin is basically the points that the lender adds to the index to make its profit. The margin varies by lender, but generally remains fixed for the life of the loan.

The interest rate of the ARM, after the introductory period, is determined by adding the index to the spread (at set intervals and subject to caps), called a fully indexed rate.

For example, if an ARM had an index of 4% and the margin was 2%, the fully indexed rate would be 6%. If the index then fell to 2%, the fully indexed rate would be 4%.

Adjustment interval

The setting interval is the time between changes in the interest rate of the ARM. ARMs can be programmed to adjust monthly, annually, every three years, etc. At the end of each adjustment interval, the interest rate on the loan will adjust to the current index, plus the margin. So the monthly mortgage payment changes each time the ARM adjusts.

An ARM with payments scheduled to adjust each year is a one-year ARM. An ARM with payments scheduled to adjust every three years is a 3-year ARM.

Armed With these ARM basics, real estate professionals can better educate their clients on the pitfalls of alluring and low call rates. With mortgage interest rates rising to an alarmsing clip, homebuyers can forgo FRMs entirely.

Due to the Federal Reserve’s response to inflation, FRMs are downright ugly compared to ARMs in 2022. Buyer beware – as the economy slides into an undeclared recession, the interest rate of today’s ARM launch could turn sour tomorrow.

Related article:

Housing market rocks as market share rises and mortgage applications fall

True Life Lending Services Personalized financial solution for everyone

Passionate about expanding funding opportunities and possibilities for business owners and investors.

August 5, 2022 – True Life Lending Services has come to unveil its affordable financing solutions to everyone so they can live their real life. As they strive to meet each client’s specific needs with a personalized financing solution designed to fit their unique financial situation. Their goal is to provide their clients with a bright financial future, with access to diverse and inclusive financing services that will move their finances forward.

They ensure that people understand how financial services work and how it can best serve them in pursuit of their ambitions to lead a better life. True Life Lending Services is dedicated to improving financial literacy rates around the world for people of all ages through their programs. For customers looking to qualify for loans, Real Life offers credit repair. They offer customers a free credit consultation.

For customers looking to qualify for loans (home, business or auto loans), True Life Loan Services works directly with the three major credit bureaus to remove inaccurate information, loans, bankruptcies, student loans , judgments, evictions and more. Their fees are very affordable as they only charge $49.99 per month with the ability to cancel at any time. Their clients can start seeing changes in credit scores in as little as 60-90 days. They also provide their customers with a dedicated credit repair specialist to help them from start to finish.

At True Life Lending Services, we understand how difficult it is for businesses to obtain financing, especially if they have bad or limited credit. We specialize in finding affordable financing solutions to meet your specific needs. We work with an extensive network of banks and financial institutions to ensure a quick and painless application process.

Their social purpose is to orchestrate the sustainable financial empowerment of every person on the planet through the collaborative power of their technology, diverse talents, and ecosystem.

True Life Lending Services works with an extensive network of banks and private investors to provide flexible financing solutions that clients can use to fund business expenses such as inventory, payroll, or as a buffer in times of financial hardship.

Let True Life Lending Services finance your next commercial real estate project with one of their convenient loan options ranging from $100,000 to $5 million. They offer affordable personal loans to meet specific financing needs. Options are available for those with a limited credit history.

Building a successful business requires investing in machinery, technology, and other equipment to help your business thrive. Explore our financing options with loans up to $5 million.

A cash advance from a merchant is one of the quickest and easiest ways to get cash in your pocket to pay for unexpected business expenses. Apply today and receive funding in as little as 3 days.

Founded by a decorated combat army veteran, True Life Lending Services embeds the military values ​​of service, integrity and accuracy in everything we do. Whether you are looking to start or grow your business, repair your credit or finance a personal project, we have a solution for you.

For more information, please visit https://truelifelendingservices.com/

Media Contact
Company Name: True Life Loan Services
Contact person: Kenny Oxenade
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Call: 888-224-2811
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Website: www.Truelifelendingservices.com

Donation point platform, Give A Little reaches £10m in donations


Give A Little is today celebrating having reached £10million in donation revenue. This is a milestone that reflects over 4,000 charities that have transitioned to cashless fundraising with the platform, accepting payment card donations via contactless, chip+PIN donations. and online.

The Give A Little platform provides the donation point experience for donors and campaign management for charities to set up their fundraiser. The service launched in 2019 and supports charities of all sizes, including Cancer Research UK, London Zoo and the Church of England.

All charities now need technology to manage cashless donations as donors have largely moved away from cash. According to the CAF UK Giving Report 2021, only 7% of donors used cash in January 2021, and Give A Little saw a more than fivefold increase in the number of cashless donations made using of its platform from year to year (May 20-21/May 21/22).

Give A Little’s primary mission is to lower the cost barrier for charities going cashless and subsequently protect them from the cost of technological change, which is increasing dramatically as new payment methods proliferate. The platform is built on a model where higher-earning charities sign up for a Premium Account, which allows first-time charities or micro charities that will never accept a lot of donations to benefit from a free basic account.

Give A Little Co-founder, said Ben Stewart charity today:

“The Give A Little team are incredibly proud to have reached this £10 million milestone. We have worked hard to ensure that charities, especially smaller ones, are not left behind by accelerating towards a cashless society and it’s a testament to the team’s dedication that we’ve built such a strong customer base in such a short time, and primarily through Word of Mouth We designed Give A Little from the start to easily adapt to changing technology and to integrate with a range of portable and fixed donation points and a choice of payment processors.This allows charities to keep up with the latest innovations while eliminating the technology risks and costs inherent in change, and further helps by removing the need for staff to be trained as experts.

“Our unique donation point platform model allows us to provide charities with reliability and resilience over very long periods of time. We achieve this while being an affordable way to start cashless fundraising. Additionally, we strongly believe in making the donor experience the best it can be, whether it’s giving donors a choice of donation amounts or presenting them with a visually appealing campaign screen, and that builds trust with the charity. Our specialization in the donation point experience leads to some of the best average donation values ​​in the industry (over £10 for on-app donations and £40 for web donations). We look forward to helping many other charities increase their donation income and thrive even in difficult times.

For more information, visit www.givealittle.co

This Arthritis Drug Deserves Its Aggressive Patent Protection


How many patents on a single drug is too many? Academics, activists and politicians have debated the issue for decades. This week, a panel of the United States Court of Appeals for the 7th Circuit gave a strong answer. As long as the owner does not use the so-called patent domain in a way that violates antitrust law, Judge Frank Easterbrook wrote, “patent laws set no ceiling.”

The litigation involved AbbVie Inc. and its arthritis drug, adalimumab, marketed in the United States as Humira. The main patent on Humira expired in 2016, but AbbVie has obtained some 132 more, the vast majority of which were issued in 2014 or later. Most of these new patents relate to the drug formulation or manufacturing process. The last of them expires in 2034.

The practice of adding new patents to an old drug, while common in the pharmaceutical industry, is often ridiculed for creating what critics call a “patent thicket” – which in turn is believed to have anti-competitive effects. . And Humira, with annual sales of over $20 billion, has been labeled the “poster kid” for patent thickening. Even the then-serving commissioner of the Food and Drug Administration was brought in to complain last year about Humira’s “vast patent estate.”

The case decided by the 7th Circuit was filed by a group of health plans who argued that by obtaining so many patents and asserting them in litigation against potential market entrants, AbbVie violated the law. Sherman. The trial court dismissed the lawsuit, and this week the 7th Circuit agreed that the dismissal was proper.

The simplest way to understand the claim of the plaintiffs is this: the 132 patents are so intimidating that no generic manufacturer has dared to enter the market. Even though some patents may turn out to be invalid, no pharmaceutical company wants to spend resources pirating the thicket they create. (See how the metaphor works?) As a result, even though Humira’s original patent has expired, the drug has no competitors.

It looks impressive. But Judge Easterbrook, who has long been one of the nation’s most renowned antitrust scholars, cuts short on the plaintiffs’ claims.

First, the thicket might be less intimidating than the plaintiffs seem to think. Most drugs are so-called synthetics, and the Food and Drug Administration is required to suspend the approval process if a patent infringement lawsuit is filed against the plaintiff. But Humira is an organic product, isolated from natural sources. Since 2007, federal law allows the FDA to approve biological applications even if an infringement action has been filed. Additionally, once the agency has given its blessing to the “biosimilar” drug, the manufacturer has the right to launch “at risk” – that is, to market the biosimilar even as the lawsuit moves forward.

So why has no competitor been launched? Plaintiffs claim that other companies have been scared off by the thicket created by all these patents.

Judge Easterbrook is not convinced: “But what’s wrong with having a lot of patents? If AbbVie has made 132 inventions, why can’t it hold 132 patents? As long as your patents are valid, he reasons, asserting them in litigation cannot violate antitrust law. Are they valid here? All 132 have been approved by the Patent Office and, as the court points out, “every patent carries a presumption of validity”.

Certainly, a defendant in an infringement action can challenge the validity of the underlying patents. Why didn’t it happen here? After all, when every potential competitor approached federal regulators, AbbVie immediately sued. Shouldn’t the defendants have reacted by trying to invalidate all or part of these 132 patents?

Maybe. But the prosecutions never reached that point. Instead, AbbVie has agreed to settle each of its lawsuits under terms that allow biosimilars to enter the market in 2023 – well before the last of the Humira patents expires.

Such “acceleration clauses” have long been common in pharmaceutical counterfeit case settlements. Often, the patent holder will allow entry before the patent expires, but will pay the generic drug maker to delay entry for a few more years. Critics argue that such deals are illegal under antitrust law, a question the US Supreme Court has left open. Here, however, no money changed hands. As Easterbrook says, “0 + 0 = 0.”(1)

The 7th Circuit’s reasoning is clear and simple enough to make one wonder why the lawsuit was filed. Admittedly, the litigation started before the pandemic, which means that Big Pharma had not yet developed the Covid vaccines and had not become a hero.

Or perhaps the lawsuit was an effort to lower proxy drug prices. It would be easy to understand. Prices are often high. But study after study has found that the social benefits of a successful new drug, even a relatively expensive one, almost always far outweigh the costs.

Even if we are not convinced, let’s not forget that biosimilar substitutes for Humira will be available next year. In short, the federal system works. The law promotes competition between pharmaceutical companies, and there is no more effective tool to moderate prices.

More writers at Bloomberg Opinion:

• Finally, a simple strategy for Covid booster shots: Lisa Jarvis

• How Kansas’ abortion vote matters — and doesn’t matter: Jonathan Bernstein

• Jobful’s ‘Vibecession’ will keep workers on the payroll: Conor Sen

(1) Most disputes over so-called “reverse payment” settlements involve synthetics, not biologics. The difference is important because the law governing synthetics grants the first approved generic 180 days of market exclusivity, which means that delaying the first generic is like delaying all generics. No such exclusivity is available for organic products.

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Stephen L. Carter is a Bloomberg Opinion columnist. A law professor at Yale University, he is the author, most recently, of “Invisible: the story of the black lawyer who shot down America’s most powerful gangster”.

More stories like this are available at bloomberg.com/opinion

Poonawalla Fincorp bets on new product launches to drive growth for 12-18 months

A year after the rebranding and management change, Poonawalla Fincorp is rebuilding its product line for a more retail-focused approach.

The non-bank lender, which started with 2 or 3 products, now offers a growing range of 12 products, including recently launched categories such as personal loans, business loans, small business loans, loans on property, medical equipment loans, machinery loans and procurement. channel financing.

NBFC is now focusing on digital consumer lending and plans to launch an EMI card, credit card, consumer credit and cash advance for merchants in the next 12-18 months, according to the MD Abhay Bhutada.

“We are a young, tech-packed NBFC that rebooted in prime time from the pandemic. We are focusing on SME as well as consumer segments to build a retail franchise,” Bhutada said. Activity area .

Organic disbursements

When it took over Magma Fincorp in July 2021, Poonawalla Fincorp initially purchased loan portfolios from some larger NBFCs, as it had discontinued some products previously offered such as CVs, tractors and rural finance; also “due to excessive system liquidity and market opportunities” available at the time.

“Now we are doing more than ₹1,000 crore in consolidated disbursements and we don’t need to acquire portfolio in the future,” Bhutada said.

Organic lender disbursements – additional loans generated by Poonawalla Fincorp on its own, rose to ₹2,738 crore in the first quarter of FY23 from ₹338 crore a year ago. Expecting this growth momentum to continue, Bhutada has pegged growth in assets under management for FY23 at 25-30%. Consolidated AUM stood at ₹17,660 crore as of June 30, up 22% year-on-year.

Digital loan

“Direct, digital and partnership models” are key areas for NBFC to drive loan growth, Bhutada said, adding that currently 40-50% of overall monthly disbursements are completely paperless.

Direct, digital and partnership channels accounted for 34.1% of organic disbursements in Q1FY23, compared to 17.5% in Q4FY22, and are expected to grow 30-40% for the remainder of the year, Bhutada said.

Poonawalla Fincorp has also linked up with e-commerce platform KrazyBee through which NBFC disburses loans of around ₹200 crore every month.

Loan portfolio quality

As a “pure retail game”, Poonawalla Fincorp will focus on retail and MSME lending, with a view to improving asset quality over the next three quarters, Bhutada said, adding that collections and quality assets had improved over the last 5 quarters.

Poonawalla Fincorp aims to limit the net NPA ratio to less than 1% and the gross NPA ratio to less than 2% by the end of FY23. As of June 30, the gross ratio for Stage 3 assets was 2.19% and the Stage 3 net asset ratio was 0.95%.

The improvement is due to the company stopping riskier lending undertaken by former Magma Fincorp, and instead targeting cash flow and GST-based lending, and borrowers in formalized income segments, a said Bhutada.

Cost of funds

Poonawalla Fincorp’s cost of borrowing decreased in the first quarter of FY23, primarily due to the repricing of high cost funds raised by the former Magma Fincorp through the sale of debt and assets; and shifting to other channels such as bank loans and capital market debt to raise funds.

While borrowing costs are expected to rise slightly over the remainder of the financial year, Bhutada said the company will pass them on to customers as it is “still very competitive” in terms of lending rates. The non-bank lender has already raised rates on 3-4 loan products in Q1FY23.

Consolidated cost of funds for NBFC declined by more than 50 basis points year on year to less than 7% in Q1FY23. Bhutada said he expects this to stabilize around 7.25% by the end of the year, adding that the 20 to 25 basis point hike will not impact the NIM or profitability of the lender.

Published on

August 03, 2022

U GRO aims to disburse small business loans worth ₹2,000 crore this financial year

  • U GRO Capital is looking to disburse loans worth ₹2,000 crore by March 2023 with its new alliance with Yubi.
  • This partnership would actually allow the lending company to enhance its existing co-lending partnership with the banks, noted the managing director of U GRO.
  • The lender believes that the alliance would make their partnership with the banks much easier.

Lending company U GRO Capital intends to provide small business loans worth ₹2,000 crore to MSMEs by the end of this financial year with the help of their strategic alliance with the market Yubi Debt (formerly known as CredAvenue).

The strategic alliance, announced on Wednesday, is accompanied by two partnership agreements. First, between the co-lending platforms of Yubi-Co.Lend and GRO-Xstream companies. Second, between Yubi’s supply chain finance vertical Yubi Flow and U GRO’s offering for GRO-Line end-retailers.

Shachindra Nath, Vice Chairman and Managing Director of U GRO Capital, in a conversation with Business Insider India noted that Yubi is building a market infrastructure, where they are integrating multiple banks and lenders together to make the process of co- smoother lending.

He noted that this integration would allow lenders like U GRO to directly transfer all important customer data to co-lending banks, digitizing the entire process.

This partnership would actually allow the lending company to enhance its existing co-lending partnership with the banks, he added.

“Today if I make a co-loan of ₹50 crore with a particular bank. Going from ₹50 crore to ₹100 crore is very difficult because banks have to put more people in and we have to put more people in between both… If your bank takes two or three hours to process a particular loan case, it will take [now] only takes five minutes,” added Nath.

Yubi partnership can help U GRO strengthen its co-lending partnerships

Notably, a co-loan arrangement usually involves two entities – a non-banking finance company (NBFC) and a bank. NBFC is the front for taking out a loan, but the majority of that lending is actually facilitated by large financial institutions like a traditional bank.

In this case, U GRO being an NBFC, incorporates small business owners as borrowers based on several metrics. The company itself finances only 20% of the loan amount, with the rest financed by traditional banks like State Bank of India and Yes Bank. Any profit, interest or loss is incurred by these two entities in the ratio 20:80.

“It’s only 20% loan on my (U GRO) book. The balance went to SBI or any other partner bank, but U GRO would service this loan for the next five to six years. The customer is not impacted,” explained Nath, pointing out that this model is globally known as Loan as a Service (LaaS).

Nath noted that they underwrite loans through their technology platform which operates primarily on data points with less human intervention. Banks, on the other hand, access the same loan manually, which is labor intensive and time consuming. Therefore, integrating with a technology platform like Yubi would allow their banks to access these loans much faster with the same capability.

“At Yubi, we are working to accelerate financial inclusion in the country through a technology-driven credit infrastructure that powers discovery, execution and execution. We are delighted to partner with U GRO Capital with a shared vision to bridge the MSME credit gap in India by providing access to credit to unserved and underserved sectors in the country,” Gaurav Kumar, Founder and CEO of Yubi, said in a statement.


The worst of the Rupee’s decline may be over as the market expects the US Fed to slow the pace of increases

Markets in standby and watch mode awaiting signals from RBI

As new cars become more expensive, used BMWs, Audis and Porsches become more attractive

How Apple’s iPhone POS fits into Adyen’s payments mix | PaymentsSource


An Apple feature that allows iPhones to serve as mobile point-of-sale terminals is getting a first look at payments processor Adyen, which sees the innovation as an additional option for combining purchases and payments as traditional payment hardware is fading.

“Depending on how many use cases you have for your business, this could be an add-on option or a replacement under certain circumstances,” said Kamran Zaki, chief operating officer at Adyen. “If you want some associates to be more mobile, you can do that. You can have some in a fixed location and some who don’t have to go back to the counter to make payment.”

Adyen recently adopted Apple’s Tap to Pay, which allows businesses to use iPhones for contactless payments. The technology is Apple’s entry into point-of-sale acceptance, although the feature is not a full-fledged payment processing system. Tap to Pay from Apple requires a third-party app to work, allowing payment processors to work with Apple while minimizing more traditional point-of-sale systems.

Adyen recently rolled out Apple’s Tap to Pay, allowing iPhones to be used as point-of-sale terminals.

Adyen’s rollout is pushing hardware point-of-sale terminals toward obsolescence, said Stephan Schambach, founder and CEO of NewStore, one of Adyen’s first partners on the Tap to Pay rollout. NewStore sells a cloud-hosted platform for point-of-sale, order management, inventory and consumer applications, with customers including retailers UNTUCKit, Marine Layer, Burton and Faherty.

“The main impact is that payment is going to be more natural and convenient,” Schambach said, adding that the integration is being pilot tested with two customers in New York before a wider rollout in the coming months. “They can use the same app to check out items or sell items that aren’t available in the store but are online.”

Adyen hopes to expand its ability to offer omnichannel payments and shopping. The processor’s customer base is primarily corporate or mid-sized businesses, which is a different market than Square’s and PayPal’s main merchants, typically sole proprietors like plumbers, dog walkers, or merchants single location. “This is an incremental technology update option for these companies as their needs change,” Zaki said.

Apple introduces Tap to Pay in February, allowing consumers to make payments by tapping a contactless card or mobile wallet on a merchant’s iPhone. Although the merchant is still required to use a payment acceptance app, they no longer need to use a Bluetooth plug-in or card reader, making it easier for store staff to use its own devices for consumer checkouts.

Apple’s initial partners included Stripe, which uses an application programming interface to enable merchants to support digital payment technology. Apple had no comment.

Apple introduces Tap to Pay in a similar way to Apple Pay, which launched without a card attached. Apple Pay required consumers to register a payment card when the app launched in 2014. Apple then partnered with Goldman Sachs to issue its own Apple Card, so it’s possible Tap to Pay could eventually turn into a merchant acquisition and processing vehicle for Apple. But for now, Tap to Pay is an option designed to make it easier for merchants to support contactless payments.

“Migration from point of sale to off-the-shelf commerce [COTS] is the next logical step to increasing access and reducing the costs of physical global trade,” said Thad Peterson, Strategic Advisor at Aite-Novarica.

But there’s still a long way to go before COTS-supported payments mature, according to Peterson, noting that Adyen offers an iPhone solution, which would limit its value for organizations and markets where Android devices maintain a significant presence.

If a “soft POS” solution is to be generally accepted and used by a wide range of merchants in different markets, an Android option must be available, Peterson said. “While the initial growth of tap-to-pay on COTS will be an app on a smartphone, it is possible and perhaps likely that the technology will spawn new generations of devices to enable transactions,” Peterson said. “Agnostic solutions including Apple, Android and probably Huawei will need to be in place and available for this to happen.”

Adyen did not respond to questions about its intention to partner with Android to provide smartphone acceptance in a manner similar to iPhone’s Tap to Pay. So far, Adyen’s work with android included original equipment manufacturer, or OEM, API integration to read card data and communicate with the Adyen platform for payment processing.

Payment terminal technology companies have responded to the digitization trend. Ingenico Axium The product line, which uses the Android operating system to support business payments and services, was introduced in Europe and is currently being tested in North America.

Axium includes a point-of-sale card reader that is being updated to move its technology to the cloud, potentially supporting a wider range of computing devices. Ingenico has also added technology that enables payments via a smart card reader and a paired mobile app.

Newly appointed Diebold Nixdorf Octavio Marquez as President and CEO to help the company continue to digitize bank payment technology. NCR in 2021 acquired Cardtronics so that it can offer cloud-based services to banks and credit unions through the Allpoint ATM network.

And Verifone website emphasizes an “omnichannel” experience that spans online and offline retail. Adyen said it will continue to work with point-of-sale technology manufacturers as well. “The payout mix will vary a bit for each merchant,” Zaki said. “Apple is a great partner, but we don’t exclude” others.

As Heinz Craft, Mars and Tesco show King’s Lynn businesses are being hit by rising costs, rising fuel, energy and inflation

Like many households, businesses are under pressure from rising costs, and just as rising fuel, energy and inflation are eating away at many of our pockets at home, local businesses are suffering from a wave of financial difficulties.

The ultimate challenge many face is the ability to sustain and absorb rising operational costs, without passing them on to their customers and risking losing business.

Inflation has reached a 40-year high of 9.1% and could rise further, and for many businesses rising product or material costs, operating expenses and the pressure to meet the increases to support employees force many of them to raise their prices, or risk negotiating negatively.

Karl Lanham, CCF.

The issue has recently made headlines with Heinz Craft and Mars refusing to supply their products to Tesco after the retail giant refused to ‘pass on unjustifiable price increases’. It’s a difficult situation, with manufacturers arguably unable to bear rising costs any longer, and customers equally reluctant and unable to afford a spike in retail prices.

In a recent UK Chambers of Commerce survey, a record number of businesses say they intend to pass on rising energy and raw material costs to their customers. More worryingly for the future, with sales and confidence weakening, three in four companies surveyed also said they were not planning to increase their investments and more than a quarter expected their profits to fall. . While the immediate pressure on business is evident, the long-term effects of a lack of investment bode well for the future of UK trade and industry.

Although the outlook looks bleak, things are changing and there is no doubt that enterprising companies will weather this storm, as they have done before in difficult business conditions. The main tool a company can use to maintain a steady cash flow and protect its reserves is to use corporate finance.

Lending products such as bill discounting which releases cash against money owed by customers, prior to payment, and merchant cash advance, which provides a lump sum on future card transactions, are quick ways to alleviate immediate pressures on cash flow. Many manufacturing companies are unaware that specialized equipment or machinery is eligible for asset financing, which could free up valuable funds in a business.

By acting now, before the pressures mount, businesses in our region can plan a way to navigate these difficult business conditions and ensure they are in a better position for the months ahead. It is always, without exception, far better to plan ahead as there will be more options available that provide choice and a thoughtful way forward, rather than waiting until it is too late.

My simple message to local businesses is don’t struggle in silence – we understand the pressure many business owners are under and are here to help with practical advice and solutions, so don’t hesitate to contact us.

For more information contact Karl Lanham at CCF on 01553 611619 or visit ccf.finance

Tartan payroll platform notches $4.5 million

Today in B2B payments, Unilever is seeing an increase in B2B e-commerce, and a PYMNTS and Corcentric report shows rapid digitization in the financial and healthcare sectors. Additionally, Razer Merchant Services is teaming up with Atome for better BNPL acceptance, Think Big Solutions is adding a digital factoring platform, and B2B payment and billing networks are helping smaller vendors grow.

Finance and healthcare reap the benefits of rapid digitization

Although many already have a robust system in place, nearly half of companies in finance, insurance and healthcare have accelerated the digitization of payment processes and systems during the pandemic.

In fact, 48% of companies in each of these industries have accelerated payments digitization to improve their balance sheets, according to “Business Payments Digitization,” a collaboration between PYMNTS and Corcentric based on a survey of 400 chief financial officers (CFOs) who work in companies with annual revenues between $400 million and $2 billion.

By comparison, only 39% of CFOs in the travel and transportation industry, 36% in retail, and 19% of those in industry and manufacturing say their companies have accelerated the digitalization of processes and processes. payment systems.

Tartan raises $4.5 million to scale its payroll platform

Indian payroll and workforce management startup Tartan has closed a $4.5m funding round which it plans to use to expand its go-to-market operations , expand its in-house engineering team, double its headcount to 110 and improve its product offerings, The Economic Times reported on Monday (August 1).

Tartan has now raised approximately $6 million in investment funds since its inception in June 2021, according to the report. The company provides a suite of white-label application programming interfaces (APIs) to financial institutions (FIs) to access consumers’ payroll data to verify their income and employment status.

According to the report, investors leading the most recent funding round included 500 Global (formerly 500 Startups), InfoEdge Ventures and the Naval Ravikant-backed Quant Fund.

Razer Merchant Services Expands BNPL Acceptance with Atom Partnership

Malaysian-based Razer Merchant Services (RMS), the B2B arm of Razer Fintech, is partnering with Asian brand Buy Now, Pay Later (BNPL) Atome to offer flexible deferred payment options when paying at online merchants and offline, according to a press. Release.

Starbucks is among the first merchants to implement Atom’s flexible payment approach through the partnership, which was announced Thursday, July 28. Starbucks and other B2C merchants that use BNPL can make their products more accessible to consumers by using flexible, deferred payments, the statement said.

BNPL is expected to grow to $33.6 billion in 2027 from $7.3 billion in 2019 at a compound annual growth rate (CAGR) of 21.2%, according to the statement, which cites a Coherent Market Insights report.

RoadSync CEO Says Digital Payments Keep Truckers Moving

RoadSync, which automates routine expenses for long-haul truck drivers, recently launched a direct payment solution that eases the burden on the driver by streamlining the transaction between broker/carrier and warehouse trader.

The company has a network of vendors that already use its platform to accept payments, and brokers and carriers are asking for ways to make the process easier. With the new direct payment solution, RoadSync has connected its expense management platform to its mobile POS platform.

Now when drivers visit a RoadSync merchant, all they have to do is provide their mobile phone number – the system will recognize if they have a pre-authorized payment in the system and let them complete it with one click.

B2B payment and billing networks help small suppliers become bigger suppliers

B2B suppliers want to serve as many buyers as possible as more businesses move online. At the same time, these suppliers want the assurance that they can be paid in a timely manner.

Brandon Spear, CEO of TreviPay, told Karen Webster of PYMNTS in a recent interview that platforms and directories created from the data flowing on these platforms can create B2B ecosystems and cement trust between businesses.

At a high level, different sellers have different needs depending on their size, multinational character, and breadth of customer base. For small businesses in particular, there is a need to leverage working capital and credit in order to purchase inventory and hire the staff that can turn the strategy into a high-level couple. TreviPay has made its mark in trade credit with automated payments and invoicing.

Unilever sees growth in B2B e-commerce segment

Unilever saw e-commerce become a driving force in the second quarter, now accounting for 14% of revenue – a 6% increase from 2019, according to half-year results released by Unilever on June 26. This was accompanied by growth in the United States and Indian markets, although Chinese sales were affected by the COVID-19 lockdowns there in the second quarter of 2022.

The company said it posted underlying first-half sales growth of 8.1%. Growth was “broad” across all divisions, with pricing having a negative impact on some things. Homecare was particularly sensitive to this, as the segment saw rising costs and saw sales growth of 10.7%, with the highest price action. Meanwhile, food and refreshments rose 7.3%, and beauty and personal care rose 7.5%.

FinTech Think Big Solutions Offers TREDX Digital Factoring Platform

Bangladesh-based fintech Think Big Solutions is now offering a digital factoring platform to provide financing solutions to small businesses, a news article announced on Sunday (July 31).

TREDX aims to unite small businesses, financial institutions (FIs), corporations and suppliers to create an online marketplace, TREDXonline, for digital invoices. TREDX will facilitate digital factoring, i.e. real-time transactions selling approved invoices from small and medium-sized enterprises (SMEs) to FIs at a discount.

According to M Masrur Reaz, Managing Director of Think Big, SMEs account for about a quarter of the country’s gross domestic product. But many of them have limited access to formal finance. Reaz said the idea was to make it easier to access credit, since many don’t have much collateral, but also have working capital tied to bills payable by large companies.

For all PYMNTS B2B coverage, subscribe daily B2B Newsletter.



About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

Woman Becomes Millionaire After Selling Body Parts And Underwear To Fans

An exotic dancer turned million-dollar businesswoman selling bizarre items online, including toenails, worn-out underwear – and even an IUD.

Rebekka Blue, 28, who calls herself “the professional goddess”, has made her fortune selling the weirdest items through one of her e-commerce businesses.

She has burst onto the market selling a fantasy of ownership and whipping items used by what her customers consider a “girlfriend character” she creates for those who are ready to buy.

Rebekka has taken on many roles over the years, including hosting a podcast, writing a book, and founding a brand that makes knives for a female market dubbed “Blades for Babes.”

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But despite that vast portfolio, she makes the most money — between $5,000 and $10,000 on “average” a month — selling bizarre items online.

She sold used tissues, toenails, and heavily worn and sweaty clothes to people across the United States.

Influencer Rebekka, from Wilmington, North Carolina, dropped out of high school at 18 and didn’t go to college.

She became an exotic dancer and became a webcam model while starting a side business selling clothes and accessories on the Internet.

Rebekka’s very first sale of belongings was one of her dance outfits, which she sold for just $20.


She sold the outfit to a customer who was “thrilled” by the experience but didn’t think about it at first.

But when she transitioned from dancing to webcam modeling, Rebekka realized there was a huge market for people buying “used underwear and socks on the internet”.

She then started selling burping content on her platforms, which turned into burping in airtight bags and shipping them to fans across the country.

Rebekka says there’s a cult aspect to weird buys and compares it to how people buy things at auction that have been used by celebrities.

Many of her clients love the gym clothes she’s worn — and sweated — because they carry her natural pheromones.

She sells shoes she’s been walking around in all day, getting dirty, and markets the items with that in mind to customers.

Rebekka said, “People think it’s crazy, but I’m selling hope, joy and love to people in a safe environment.”

The weirdest item Rebekka ever sold was her IUD (intrauterine device).

She added: “I had a Mirena (coil) and my doctor just threw it in the trash. If you see me throwing something in the trash then it’s a red flag because I usually keep it in my bag to sell later.

“Even though we’re going to the salon to get our toes fixed, I’m asking to keep the flip flops and nail separators on and trying to get my client to pay for everyone else’s pedicures. It’s a sales challenge incentive. With the IUD, I come I took it out of the trash and brought it home. I had a client who was buying weird things like my stuffed animals and my panty liners and quirky stuff and s’ is said: “Maybe he could use it as a trophy?”


“He gave me four figures to have something that was inside my body for almost five years, which was divine for him, so that was definitely one of the highlights of my career. “

Rebekka decided to share the unusual experience on TikTok, and that’s when her videos exploded.

She now has over a million followers on TikTok, where she showcases her business acumen and markets her wares.

It took him three years of hard work to realize that it could be a real business model, instead of a side hustle.

The business took off, but Rebekka was still only earning around $50 a week when she started.

But things quickly escalated, and his niche industry of creating a market for his second-hand items and junk saw him earn over $1 million in just 10 years.

She said: “It was a no-brainer to continue sharing my experience on social media, which not only grew my business, but allowed me to build an entertainment business. It allowed me to hire .”

One customer even wanted to buy a second-hand pregnancy test, to simulate the idea of ​​the couple in a romantic relationship trying to have a baby.

Rebekka said, “I went to the dollar store and bought a pregnancy test. I sold the fantasy again. I almost wrote a script like we were in a movie, about this pregnancy test.”


Thanks to her success, Rebekka was able to write a book to teach other women how to sell their own things.

Rebekka revealed that when she learns that women can quit their nine-to-five jobs with her help, she finds it more rewarding than getting the check at the end of the day.

Constantly improving her business is at the forefront of every CEO and Rebekka is no different, ensuring that her products end up with the customer in the best quality condition.

She said most products are vacuum-sealed to lock in freshness and pheromones, but constantly has to keep up with her ever-growing list of items on sale, like “nails and spit bottles.”

Rebekka added: “I’ve had paid experiences. I have a client who really likes me to shop for him at Victoria’s Secret and wear those items before I ship them to him. Every week I get paid a few hundreds of dollars to shop, buy lingerie, get paid to wear it, get paid to ship it, and make content out of it.

“I had a request to get a really nice pair of Christian Louboutin heels, some of them cost a few thousand dollars.

“I was told to put them in my garden and walk in the woods at night. I was told to get some honey and sprinklers and fill the soles with them and then walk around in these shoes in the woods on video before I vacuum sealed the shoes and sent them to him. It was a sale for about $500. I also asked to get a pair of shoes to make up for my troubles, so I also had free Louboutins.

The most disgusting item she sold was a diaper she wore.

Rebekka said, “That’s all I’ll go…it gets weirder, but I don’t think we can post this stuff.”

Selling unusual items online is a ‘double-edged sword’, Rebekka says, implying there are even stranger things she hasn’t sold due to her privacy and security .


#trashwoman, #trashmantiktok, #imthetrashman, #weirdthingsisellontheinternet, #weirdthingsisell, #kinktoc😈, #fyp, #prodessionalgoddess, #rebekkablue, #foryou, #foryourpage, #trashyaesthetic

Because the industry is unregulated, its protection could be compromised by people who do not respect its consent.

Rebekka’s end goal is to retire, but also to leave a legacy that includes training and information in the industry and helping to provide support for women who are new to the life of selling weird things in line.

She said: “Most importantly, my goal in this industry is to provide legal change to help the rights of us who sell weird things that we don’t have; payment processors don’t protect us, our security n “It’s not protected. The goal is to have more rights for us because it’s a legitimate business, and we deserve to be treated like business owners.”

SWNS by Barney Riley.

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Notion’s Mergers and Acquisitions Playbook in Tough Times – Protocol

Hello and welcome to Pipeline. My name is Biz Carson and I would like to wish my brother a very happy golden birthday.

This Week in Startup World: VCs Want to Fight IRL, LA gets its own tech week and my exclusive report on Notion’s takeover bid and what it means to play offense in a downturn.

Play offense in a downturn

Venture capitalists have all given the same advice to startups: cut costs, lay off, become more disciplined, and get positive cash flow to survive a downturn.

For Notion though, the game has in many ways returned to its own turf.

“We’re in an interesting position because we’ve always had positive cash flow and we don’t need to do these things,” Notion COO Akshay Kothari told me. “So we’ve been thinking a lot over the last six months about the question, ‘Well, if everyone zigzags, how do we zigzag?'”

Notion goes on the offensive while other startups play defense.

  • It acquired the Cron calendar app in June and added the Flowdash team earlier this month.
  • He launched a global advertising campaign – the opposite of cutting marketing spend.
  • It also launched an employee tender offer in June, allowing current and former employees to sell stock so they know it’s more than paper money. Sequoia and Index also had the chance to buy more at the same price as in its last funding round (a post-money valuation of $10.3 billion). “It’s not something that people feel like they can just retire, but I think it gives them peace of mind,” Kothari said.

This is not a position every startup finds itself in right now. Companies have implemented hiring freezes and cut staff, ICT Tac individually at Sub-stack. Klarna saw its valuation drop from $45.6 billion last June to $6.7 billion in July in its last round of funding. Stripe, following other startups like Instacart, cut his own internal valuation of 28%.

  • Notion is not immune to headwinds either. Many of its customers are startups, so any downturn that leads them to cut costs could mean tools like Notion could be on the chopping block. Kothari says the company is watching the turnover of its small businesses closely right now because of this, but it’s also seeing the number of its mid-tier businesses increase.
  • After reading about The regrets of Marc Benioff on not investing more in 2009 when Salesforce was doing better than expected, Kothari said he realized that Notion’s decision in this environment was to watch its numbers closely, but to play the offensive where she could.

Notion isn’t the only one looking at the recession. Companies like cryptocurrency exchange FTX saw this time as a privileged moment of purchase, and FTX founder Sam Bankman-Fried has invested in numerous companies in the struggling crypto space. Notion hasn’t been on the same scale as the M&A frenzy, but Kothari has noted a definite shift in entrepreneurs’ attitude toward deals. As funding has dried up and there are fewer exit routes, he’s found more founders willing to be part of bigger companies — and Notion is open to more conversations.

“I would say we’re very much in the market to continue talking to companies on both the product side and the acquisition side and see how we can accelerate our roadmap internally,” Kothari said.

My story about Notion’s takeover bid first appeared on Protocol.com. Read it here.


A true venture capitalist fight club. Inside’s Jason Calacanis and Founders Fund investor Trae Stephens will MMA fight each other in a ring for $100,000, as long as Calacanis doesn’t add terms to it.

“If your company lays off, [it] looks like you should be disqualified from all “best places to work” lists/surveys for at least a year after” Credit Karma human resources manager Colleen McCreary wrote on LinkedIn. Executives, however, are split on whether the layoffs should be a scarlet letter for a company or be seen as the normal course of business.

Not the discounts you want to see. “There’s nothing like having your inbox full of emails from brokers offering side jobs at VC-backed companies you love with deep discounts… Until you scroll down and see your own portfolio companies on the list 🥴” tweeted Elliott Robinson of Bessemer. The good news, as he underlinedis that one investor’s exit ramp is another investor’s on-ramp to a 10x outcome.

Is helium just a puff of hot air? Famous Web3 critic Liron Shapira did a tweet thread dissecting Helium’s business model after the highly publicized Web3 IoT company raised hundreds of millions of dollars. In a rare move, Sequoia’s Shaun Maguire tweeted that he agreed with Shapira and said it was important to voice skepticism in the industry: “I admire both Helium’s founders and early adopters for conducting this experiment. But I think this funding is absurd .


Shortage of microchips could harm national security: The global shortage of semiconductors has hampered production of everything from pickup trucks to PlayStations. But there are more serious implications than a shortage of consumer goods. If the United States does not ensure continued domestic access to advanced semiconductor manufacturing, experts say our national security could suffer.

Learn more about Micron

inside track

In today’s market, it’s better to redirect sales strategies toward expanding current customers than trying to attract new ones. Initialized Jennifer Wolf spoke to Returnly’s former CRO Greg Lazarus on “Five Selling Strategies to Overcome the Market Slowdown.”

When will valuations bottom? Thomvest Ventures’ Don Butler did the math and found that it could be “several more quarters” before valuations bottom out and the rebound begins.

Raising an initial fund isn’t much different from raising for a startup – you still need to raise and tell a story to make it happen. weekend funds Ryan Hoover and Vedika Jain assembled a group of advice to new managers on how to raise from LP.

After thousands and thousands of pitch decks, there are three slides that are major red flags for Homebrew hunter’s march. One of them (misleading bios/logos of the founder) is also a major red flag for journalists.

The seven deadly sins are often viewed in a negative light, but it’s not a sin to build a successful consumer business from human behaviors. In a post on investing in the seven deadly sins of consumer technology, Index Rex Woodbury breaks down an established business and a rising business that benefits from each.

must know

Another spin on the focused interest carousel. The Schumer-Manchin climate agreement ended in a surprise line on carried forward interest. The provision is intended to reduce the tax loophole on deferred interest, which results in the predictable cries that it’s going to ruin the startup economy but also some VC support that see this as a worthy trade. Writing about someone trying to close the interest loophole is an annual exercise at this point, but maybe this time it will happen?

The only thing that passed is the Chips Act. The $52 billion for chipmaking is a huge boon to the industry, but now is the time to build.

The FTC has filed a lawsuit to block Meta’s acquisition of VR startup Within. It’s an aggressive move against Big Tech, and many are already concerned on the chilling effect this lawsuit could have on startups. “If the government prevents big tech companies from buying small startups in *nascent* markets, all that will happen is there will be fewer startups over time because investors can’t buy in. at risk”, tweeted Box’s Aaron Levie. “It’s bad for innovation and, ironically, good for big tech companies.”

LA Tech Week is now a thing, and it starts mid-August with Marc Andreessen as opening speech.

Narrative violation: While many venture capitalists are announcing their expansion outside of Silicon Valley, Los Angeles-based Upfront Ventures is open an outpost in SF. Upfront’s Kara Nortman and Greg Bettinelli will not invest of the new fund however.

From the protocol: SignalFire CEO Chris Farmer has been waiting years for the other shoe to drop. It is now ready for a recession and the investment changes that come with it.

Also on Protocol: Why Cloudflare’s march to network security can’t be ignored.

Your reading of the weekend: It’s the first anniversary of Robinhood’s IPO – and it’s not exactly happy. Yet its founders are zen about it and are already plotting their return.


Shortage of microchips could harm national security: To ensure America’s security, prosperity, and technological leadership, industry leaders say the United States must encourage domestic chip manufacturing to reduce our dependence on chip producers. East Asia for critical electronic components.

Learn more about Micron

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Financing for small businesses in 2022

Finding the right small business financing can make all the difference to the success of your business. In 2021, nearly 62% of small businesses used personal funds to cover cash shortfalls in their business. Although this practice likely puts a lot of strain on the business owner’s personal assets, securing sufficient financing for the business can help.

In this article, we explain why small business financing is important, how to determine how much financing you need, and what the best financing options are for your business.

Why is financing important for small businesses?

There are many reasons why small business financing is essential. Many small business owners and entrepreneurs need money to make their idea a reality. So they can’t even get started without the right small business loans. Lenders also often require small businesses to do market research before offering financing, but even market research requires money.

Having sufficient business financing is also often the only way to grow your business or develop new products, both of which are fundamental factors for many successful businesses. It may not be possible to grow your business using just your profits.

Even if you’re not looking to grow your business, the uses for small business financing are virtually endless. Having sufficient business financing can help you stabilize your cash flow during off-season, increase working capital, meet financial obligations, or maintain sufficient inventory to meet customer demand.

Is it difficult to obtain financing for small businesses?

Whether or not it is difficult to obtain financing for a small business depends on the qualifications of your business, the type of financing you request and the amount of the loan. The US Small Business Administration (SBA) has a notoriously difficult application process, but online lenders may have more flexible eligibility requirements. Whether or not you qualify depends on the individual financing option.

Other factors that matter are your business details, such as your personal and professional credit ratings, time spent in business, and annual income. If you need help with your business credit scores, check out Nav’s guide on how to build business credit. Other factors are whether or not you have a solid business plan and how much you are asking for in loan funds.

How can I quickly obtain financing for my business?

Finding quick funding opportunities can seem daunting, but there are plenty of options available to you. Generally, online or alternative lenders can get you business financing faster than traditional banks. Here are some great options that target various business goals:

Many online lenders can get you simple online applications and funding in as fast as a day or two.

However, keep in mind that the interest rates for these business financing options can be significantly higher than for traditional loans. Be sure to review all terms and payment requirements before agreeing to borrow.

How much financing does my business need?

The amount of small business financing your business needs depends on how you will use the money and what you can afford. If you’re looking to start a business, estimate your start-up costs, which will heavily depend on opening a physical site, an e-commerce business, or selling services. On the other hand, if you need financing for a specific purpose (like launching a new product), make sure you don’t borrow too much since you’ll have to pay interest on every dollar you owe.

Before you borrow, you’ll want to calculate the cost of debt so you’re sure how much you’ll owe on all of your business debt. Then you will be able to tell how much money you can really afford to borrow.

Ways to finance a business

There are two main methods of financing a company: going into debt or selling equity to investors. Here we explore the most common financing options for businesses.

1. Take out a bank loan

Term loans are offered by banks and other financial institutions for a specific amount with monthly repayment requirements. You can find many of the same types of financing that online lenders offer, such as invoice financing and lines of credit. Borrowers receive an interest rate based on their business factors, and interest rates are generally low with bank loans. However, traditional loan programs can be difficult to qualify for new businesses or businesses with bad credit.

2. Get financing online

Online lenders may have less stringent requirements for their business applicants, so it may be easier to qualify than with a traditional bank. The application process with this type of lender is often entirely digital, so it can be completed from anywhere and only takes a few minutes. Also, they may be able to send you the money within a day or two of being approved. But, as mentioned, interest rates can be higher with an online lender than with a traditional bank loan, so you’ll want to pay them off quickly.

Here are some great offers from our lending marketplace:

3. Apply for an SBA loan

The federal government backs US Small Business Administration loans, so interest rates are often among the lowest in the market. Low rates make this financing option highly sought after. However, it can be very difficult to qualify for an SBA loan, so review the qualification requirements in detail before applying.

The government also supports Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR), which provides funding to small domestic businesses seeking to increase innovation.

4. Get a Small Business Grant

There are many grant programs available for small businesses – and the best part is that you don’t have to pay them back. Small business grants are offered by government, nonprofits, and corporations to help struggling businesses. For federally-backed grants, go to Grants.gov.

The Nav Small Business Grant is a quarterly grant open to all small businesses in the United States. Check our website for when applications open next.

5. Use crowdfunding

Crowdfunding is a way to use your community and network to raise funds for businesses. Rewards-based crowdfunding is the type of crowdfunding most people are familiar with: you contribute a specific amount and you get something small in return. You may get a product or early access to a launch, but you know in advance what you’re getting for your donation. Donors don’t expect to be reimbursed for their contributions, so you can avoid paying interest with crowdfunding.

6. Find equity investors

Equity financing is a way to get financing for small businesses without going into debt. You bring in investors in exchange for equity in your business. This type of financing is most often used by startups, but it could also be the right option for you. Just keep in mind that you have to give up some control of your business in exchange for the investments, so make sure you’re comfortable with that.

Financing of salary expenses

Payroll compliance is one of the most important obligations you have as a small business owner. Your employees rely on you to pay them in full and on time. The good news is that if you’re short on cash, there are several options for financing your business. You can turn to a payday loan which must be used specifically for payroll. Or you can use flexible small business financing options like business loans, merchant cash advances, or even business credit cards to open up cash flow and payroll.

Financing a business expansion

Expanding your business can be a great prospect, but you need a way to pay for it. Your funding method will depend on how you plan to grow. For example, if you need to purchase real estate for a warehouse or brick-and-mortar location, you can turn to commercial real estate loans. If you plan to increase your inventory after your marketing campaign has brought in new customers, you may want to consider an inventory loan. But many of the same small business financing options are available for expansion.

Your next steps

For training and advice on all small business financing matters, you can find a small business development center near you. They offer business programs that help small businesses build and maintain success. And Nav is always there to help. Signing up for a free Nav account gives you instant access to our extensive small business finance marketplace. It’s the easiest way to find the small business financing that’s right for you.

This article was originally written on July 29, 2022.

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Will the “Credit Card Competition Act” lead to lower prices for retailers and consumers? – RetailWire

July 29, 2022

Retail organizations have come out in favor of new legislation that would allow retailers and other merchants to choose which companies process credit card transactions. There “Credit Card Competition Act 2022introduced yesterday by Senators Dick Durbin (D-IL) and Roger Marshall (R-KS), if passed, promises to open up the payment processing market and remove barriers that retailers have long maintained. to higher prices for them and their customers.

The Association of Retail Industry Leaders (RILA), which represents the largest retailers in the United States, spoke out in favor of the legislation.

“For too long, Visa and MasterCard, along with Wall Street’s biggest banks, have robbed American consumers and main street businesses with interchange fees,” said Austen Jensen, executive vice president of business. of RILA, in a press release. “It was abundantly clear earlier this year when Visa and MasterCard chose profits over American families when they raised interchange rates during the highest inflation in more than forty years.”

The National Trade Federation (FRN) also expressed his support.

“Processing credit card transactions shouldn’t be limited to two companies when there are a dozen that can do the job just as well,” said Leon Buck, NRF vice president for relationships. government, banking and financial services. “Routing choice has saved retailers and their customers billions in the debit card market and can do even more in the much larger credit card market.”

NACS, which represents convenience stores and gasoline retailers, added its support. The organization said the average “swipe fee” was 2.25% of the transaction price when processed by Visa and Mastercard. That’s seven times more than retailers in Europe pay and five times more than those in China.

“While our retailers can negotiate the cost of other goods and services in their stores, they are powerless when it comes to negotiating with the credit card industry,” said Anna Ready Blom, director of government relations. , NACS.

MFIwho represents grocery retailers, adds to those describing the negative effects of card processing fees on their businesses and the customers they serve.

Jennifer Hatcher, the IMF’s public policy director and senior vice president for government relations, said swiping fees “represent the largest operating costs for many retailers after labor,” which poses a a challenge for “an industry that has historically operated with profit margins of 1-2%.

DISCUSSION QUESTIONS: Will the “Credit Card Competition Act of 2022” result in lower swipe fees for retailers? What do you think most retailers will do if their processing fees go down?


“The card processing fees are outrageous. Hopefully the effort to increase competition won’t be undone by senators who appreciate the big two’s campaign contributions.”


The ins and outs of adding a credit card surcharge : Travel Weekly

Marc Pestronk

Q: Our agency manages its own circuits, for which we are the credit card merchant. We would prefer most customers to pay us by check, but some customers prefer to pay by credit card which costs us around 4%. Can we add a credit card surcharge?

A: The answer is complex, as it depends on the state the customer is in, the type of card, the method of disclosing a surcharge, and the amount of your proposed surcharge. However, in general, the answer is yes.

First, in every state and with every card, you can avoid the problem by setting a price and then offering a discount for non-credit card payments. Since the price set would then be higher than it would be with a supplement, and you might not want to talk about “discounts” for your visits, I would understand that you would not favor this approach.

Second, credit card surcharges are legal in 40 states. In eight other states — California, Florida, Kansas, Maine, New York, Oklahoma, Texas and Utah — the surcharges violate state law, but the violations are unenforceable due to court rulings. That leaves only Connecticut and Massachusetts as states where you cannot surcharge a credit card sale.

Third, for debit cards, federal law prohibits surcharges, even for debit card transactions treated as credit card transactions (i.e., without a PIN).
Fourth, New York and Maine require you to disclose exact cash and credit card prices in dollars and cents when you quote a price, and other states require you to quote the surcharge percentage at the point of sale and again on the receipt.

Fifth, American Express, Visa, MasterCard and Discover each have their own rules, which are set out in their trade agreements. While none of the providers categorically prohibit supplements, they do impose a bunch of conditions:

  • Visa, MasterCard and Discover require you to notify the network (by completing an online form) and your processor or bank at least 30 days in advance of your intention to impose a surcharge.
  • All card provider rules provide that additional fee amounts are limited to your effective rate for credit card transactions or 4% (2% in Colorado), whichever is lower.
  • Visa, MasterCard and Discover also require you to include the surcharge amount on a separate line on a receipt and in the authorization request. However, American Express allows you to combine the supplement and the price of the trip into a single amount.

Most of the rules seem designed to deter you, and card companies say that imposing these surcharges forces most consumers to turn to sellers who don’t have surcharges. While that might be true with buying interchangeable consumer goods, I doubt it’s true for circuits, especially if yours are unique.

Either way, if a potential customer doesn’t want to pay extra, you can waive it, or you can offer several other payment methods, including check, wire transfer, PayPal, or various buy now, pay later at the point of sale. lenders that customers could use.

Momentus Capital commends the Biden-Harris administration for supporting the Economic Opportunity Coalition, pledging to address economic disparities in communities of color

The Momentus Capital family of companies is a founding member of the new coalition dedicated to fighting economic disparity and accelerating economic opportunity.

ARLINGTON, Va. and SAN DIEGO, July 28, 2022 /PRNewswire/ — Momentus Capital is honored to be a founding member of the new Economic Opportunity Coalition (EOC).

vice president Kamala Harris announced today historic efforts to catalyze and align public and private investments – including the formation of the new EOC – to address economic disparities and accelerate economic opportunity in communities of color and other underserved communities.

The EOC is made up of 23 companies and foundations, including 14 Fortune 500 companies. Their goal is to focus their commitments in a few areas that will move the needle – aligning their major investments in communities of color with investments made by the Biden-Harris Administration.

“Momentus Capital is uniquely positioned to play an important role in representing mission-driven financial institutions on the Economic Opportunity Coalition,” said Ellis CarrPresident and CEO of Momentus Capital family of companies, which includes Capital Impact Partners, CDC Small Business Fundingand Venture capital lending technologies. “Our team has extensive experience in small business and community development, and the ability to offer a continuum of capital at every stage of growth to support economic mobility and wealth creation.”

“We are grateful to the Biden-Harris administration for their support of the Economic Opportunity Coalition. Working together in this public-private partnership will help create social and economic justice in disinvested communities,” Carr added. “This coalition will strengthen Momentus Capital’s work to provide communities with the opportunities they deserve to succeed and prosper. We can accomplish much more and much faster by combining our efforts strategically than we could by acting separately.

EOC founding members include Ariel Investments, Bank of America, BNY Mellon, Capital One, Citi, Discover, Ford Foundation, Goldman Sachs, Google, Key Bank, Kresge Foundation, Mastercard, McDonald’s, McKinsey & Company, Micron, Momentus Capital, Moody’s, Netflix, PayPal, PNC, The Rockefeller Foundation, TIAA and Upstart.

The EOC will coordinate between public, private and social sector organisations. It will develop and deploy products that solve problems getting resources to where they are needed most, and it will drive results for meaningful action.

Coalition members have made significant commitments in each of the four priority areas, including a number of investments since the formation of the group earlier this year:

  • Invest in Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs)
  • Support entrepreneurship and minority-owned businesses
  • Expand inclusive and equitable access to credit and other financial services that facilitate financial health
  • Make infrastructure investments that create more community wealth

These pledges, which represent only a small fraction of the EOC’s total pledges, show the immense resources that these founding members bring to the table, but they recognize that they must do more.

Over the coming months, the EOC will build on investments made by the Biden-Harris administration and develop new solutions that reinvent how capital, technology and talent are deployed in underserved communities. They will be built with and for the community, building on existing strengths and assets to tackle the root causes of economic inequality.

The Momentus Capital family of companies is already working to transform the way investments and capital flow through communities. This includes:

  • Financial capital: a range of flexible debt and equity products to meet the needs of Momentus Capital partners, as well as access to new markets and potential investors
  • Knowledge capital: business advice, support and training to develop the skills and knowledge that can help partners move their businesses forward
  • Share capital: connections to networks and people who can help Momentum Capital partners succeed

Among the recent programs and initiatives of the Momentus Capital family of companies:

  • Launch of a Impact Investment Group to revive growth-stage businesses that will impact their communities. Equity investments represent less than 2% of CDFI portfolios in United States. This will fill a critical gap for companies like this that need more than traditional debt products.
  • Coming! Momentum Capital is developing a first-of-its-kind, mission-driven investment bank to better connect investors to community organizations through community-centric securities offerings.
  • Enable Detroita new loan product that empowers black entrepreneurs by focusing on character-based assessments rather than credit scores.
  • Incapacitythat helps business owners who have been denied a commercial real estate loan, giving them the opportunity to build wealth, create jobs, and stay in the communities they serve.
  • The Equitable Development Initiative, Housing Equity Accelerator Scholarshipand Growth of diversified real estate developersall of which provide training, mentorship, connections, and funding pathways to developers of color, helping them overcome racial barriers and systemic issues.
  • Increase access to Companies+, an exclusive loan processing and portfolio management tool that has become one of the best resources for small businesses and community lenders. It has helped other local lenders create an impact in their communities by giving them access to high-level services that they otherwise could not manage on their own.

Drawing on 80 years of combined experience, a portfolio of nearly $3 billionand strong community engagement, the Momentus Capital family of companies has delivered over $23 billion in financing, created and preserved 250,000 jobs, and served 12,000 small businesses and five million people throughout their history.

More information is available on the Momentus Capital Fact Sheet (PDF).

About Momentus Capital

Momentus Capital transforms the way capital and investments flow through communities to provide people with the access to capital and opportunities they deserve.

Through our family of mission-driven organizations, including Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies, we work to reinvent traditional financial systems that have failed to address systemic issues of inequality, poverty, and poverty. economic empowerment and the widening racial wealth gap. .

Each organization under the Momentus Capital brand will continue to operate as a separate entity committed to serving its market and key customers, but with additional resources and product offerings.

We offer a continuum of financial, knowledge and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive suite of lending products, impact investing opportunities, business training and advisory programs, and technology services that advance local solutions.

Drawing on 80 years of combined experience, a portfolio of nearly $3 billionand strong community engagement, the family of companies has delivered over $23 billion in financing, created and preserved 250,000 jobs, and served 12,000 small businesses and five million people throughout their history.

With its headquarters at Arlington, Virginiaand San Diego, CaliforniaMomentus Capital operates nationwide focusing on major urban areas and cities in Arizona, Michigan, Nevada, New York, Texasand washington d.c.

Learn more about momentuscap.org.

SOURCEMomentus Capital

Default banning of Apple apps could happen; The company must use the pop-up warning message

Apple’s default apps could soon be banned as the US Congress proposes several antitrust bills to track giant tech companies’ market dominance issues.

(Photo: Photo Illustration by Justin Sullivan/Getty Images)
In this photo illustration, Facebook and Instagram apps are seen on an iPhone screen on October 04, 2021 in San Anselmo, California. Social media apps Facebook, Instagram and WhatsApp are experiencing a global outage that began before 9 a.m. (PST) Monday morning.

Two of these bills are now ready for vote. However, US Senate Majority Leader Chuck Schumer has yet to schedule the necessary vote.

If these two bills make it through the Senate, chances are that Apple’s default apps will be banned. In recent years, the iPhone maker has been criticized for having pre-installed its applications.

While there’s a good chance that both bills will pass, experts said Apple has its own tactic to encourage users to install its iOS apps.

Default Apple Apps Ban Could Happen

According to the latest report from 9To5Mac, once the US government banned iOS apps by default, Apple can no longer preinstall its own apps on iPhones.

Default Apple App Ban Could Happen - Forcing iPhone Maker to Use Scare Tactic
(Photo: Photo by CHRIS DELMAS/AFP via Getty Images)
This illustration photo shows the logo of Apple’s App Store reflected from an iPhone on the back of an iMac in Los Angeles, August 26, 2021. – Apple has agreed to ease payment restrictions on its App Store, a major change announced in a settlement with smaller developers as the US tech giant faces increasing scrutiny.

Also read: Apple’s patent history shows automotive-related technologies, including hardware related to ride comfort

This means consumers will have more options. For example, if you buy a new iOS smartphone, you will have to choose from the Internet browsers provided.

These include Firefox, Chrome, Edge, Opera and Safari. This also goes for other types of apps, such as music and map apps.

In addition to that, you can also install other apps that are not from the official Apple App Store. Now, if this scenario ever really happens, here’s what the tech giant could do.

Will Apple use pop-up warning messages?

MacWorld reported that Apple recently announced that Netflix subscribers can already use other payment methods.

Since Apple no longer controls how the streaming service pays on iOS devices, it uses pop-up warning messages to persuade consumers.

Tim Sweeney, the CEO of Epic Games, criticized this decision by Apple.

“Although Netflix is ​​escaping Apple’s 30% revenue tax, Apple is imposing a new tax – the tax ‘scaring off customers by making all competing payment processors look unreliable,'” a said Sweeney via his official. Twitter account.

Chances are Apple will do this with its iOS apps as well if the US government ever bans them.

On the other hand, Apple has announced that developers can now increase iOS app subscription fees.

Meanwhile, two Apple features have allegedly been used by scammers to bypass the official Apple App Store.

For more information on Apple apps and other related tech topics, always keep your tabs open here on TechTimes.

Related article: Fraudulent iPhone apps remain on Apple’s App Store, putting 7 million users at risk! Install these apps now

This article belongs to TechTimes

Written by: Griffin Davis

ⓒ 2022 TECHTIMES.com All rights reserved. Do not reproduce without permission.

Krungsri and Grab launch “Grab First Personal Loan” to capture retail market, focusing on Grab users

Mr. Worachat Luxkanalode, Executive Director of Grab Thailand and Country Head of Grab Financial Group (Thailand) said, “Promoting financial inclusion among Thai people is one of the main business objectives of Grab Financial Group in line with the mission by GrabForGood. Over the past three years, Grab has partnered with Krungsri to move forward with product development and offer a full range of products to meet the needs of low-income people who are underbanked, such as a loan personal and instant cash loan for GrabFood merchant partners and personal loan for partner drivers. These partners need working capital to manage their business cash flow and day-to-day expenses. A significant increase in loan growth has been observed over the years. For this year, in the quest for greater financial inclusion and expanding our loan portfolio to cover Grab users who are likely to encounter various economic challenges currently, we are collaborating to introduce “First Grab Personal Loan” which is synergistically developed the data analysis expertise of Grab and the lending experience of Krungsri to meet the financial needs of a wider range of Grab users.

Mr. Vee Charununsiri, Head of Loans Department at Grab Financial Group Thailand, added, “Grab First Personal Loan is designed and developed by taking advantage of new technologies, alternative data derived from users’ transactions on the platform and algorithms. machine learning used for financial operations. behavioral analytics, to establish a more accurate loan underwriting and approval process and better respond to user preferences. The loan offers a credit limit of up to 100,000 baht at an interest rate not exceeding 25% per annum and a maximum installment period of 12 months. Grab users can request “Grab First Personal Loan” on Grab app under “Payment” menu through which system will connect to UCHOOSE app for loan seekers to specify loan amount and plan installment payment as they wish.

Users of Grab services who are offered to apply for a “First Grab Personal Loan” can click on the “Payment” menu on the Grab app under the “Financial Services” category and follow the entire loan application process via UCHOOSE app, including identity authentication, sending supporting documents such as copy of ID card, payslip, etc., as well as checking the approval status within 30 minutes . Money will be transferred to borrowers within one day of loan approval. (Terms and conditions will be as specified.)

For more information, visit https://bit.ly/GrabFirst

What is Ad Technology? | BakerHotelier

“What is ad tech? This is a question I have been asked and answered many times. I recently joined the Chicago office of BakerHostetler in the Digital Assets and Data Management practice group after spending nearly eight years at Publicis Groupe, where I led a team of lawyers supporting business units focused on media, data and advertising technology (“ad tech”). As part of this transition, I had the opportunity to meet many new lawyers in the firm and their new existing and potential clients, which required me to refine my proverbial “elevator pitch”. This elevator pitch always includes a discussion of ad technology, starting with an explanation of what it is.

If you search online, you will find slightly different definitions, depending on the source. Most will include some variation of the following: advertising technology is the set of technologies and tools used to purchase, manage, target, deliver and analyze digital advertising campaigns. And that’s right, even if it’s not very helpful. Instead, I usually try to define it more succinctly; it’s the technology that allows advertisers to show their ads in front of the right eyes. After all, the purpose of an advertisement is to engage consumers, especially good consumers. Ad technology helps advertisers do just that. Innovative, stunning, and award-winning ad creative is great, but to drive sales, those ads need to be seen by the right consumers. In addition, the production of quality advertisements and the purchase of media to broadcast these advertisements represent significant investments for advertisers. Ad technology provides tools that advertisers can use to ensure their ads reach the right audience and that those investments pay off. I find that focusing initially on the Why advertising technology, compared to the Whathelps provide the necessary context, especially for people who don’t live and breathe this stuff.

In this context, I would like to give a few examples. My favorite is the demand-side platform, or DSP. I like using DSP for several reasons. One of my earliest experiences in ad tech was providing legal support to a company that owned and operated a DSP. And I’ve been lucky enough to have some of the best and brightest inside clients in ad tech walk me through how the platform works and in turn how the whole thing works. of the ad tech ecosystem. DSPs also connect and interact with many other types of ad technology platforms, including sell-side platforms and exchanges, data providers, ad servers, and various measurement providers, brand safety and verification. So, by considering the DSP, you can familiarize yourself with several types of ad technology providers. And discussing DSPs also helps introduce some standard terminology frequently used in ad tech.

A DSP is a platform used by advertisers or their agencies to buy ad space programmatically and run ad campaigns. The terms “demand-side” or “buy-side” generally refer to those who seek to buy media space to place their advertisements in view of consumers, ie advertisers. The terms “sell-side” or “supply-side” generally refer to those seeking to sell media space to advertisers; for example, a publisher who owns and operates a website with advertising space available for sale. Just as a DSP helps advertisers buy ad space programmatically, a sell-side platform, or SSP, helps publishers sell their available ad space. DSPs and SSPs allow advertising space to be bought and sold on an impression-by-impression basis through a real-time auction known as a real-time auction or RTB. To illustrate how this works, imagine a consumer using their web browser to view their favorite news site. They type the address into their browser and press enter. A second later, they’re looking at the site’s homepage. But there’s a lot going on behind the scenes during the few seconds it takes for this page to load. During this short period of time, the page’s ad slots (each called an “impression”) are auctioned, winning bids for impressions are selected, and the winning advertiser’s ad creative is served and loaded into the advertising space. , along with the rest of the page content, and all appear on the page the user is viewing. The auction is facilitated by communication between the SSP and the DSP. The SSP sends a bid request to the DSPs, announcing that it has an impression to sell and accepts bids from advertisers for that ad space. The bid request also includes impression information to help advertisers decide if and how much they are willing to bid. This may include things such as the name of the website where the impression will appear, a description of the content of the page, the type of device and operating system the consumer is using, the consumer’s location and other information about the opportunity. DSPs receive the bid request and use the information provided to decide whether or not to place a bid on behalf of their advertiser clients. DSPs compare the information in the bid request to the parameters that advertisers set when initially setting up their campaigns in the DSP. If there is a match between the opportunity and the targeting parameters configured by the advertiser, the DSP will place a bid (send a bid response) and the DSP will determine the bid amount based on proximity opportunity with advertiser settings. , among other factors. All bids are compared, the winning bid is selected, and the winning advertiser can show their ad to the user on the page.

DSPs and SSPs are not the only ad technology vendors involved in these transactions. Ad servers play an important role and are used by both publishers and advertisers. They are responsible for storing creative assets, delivering content to the page, and collecting/tracking various campaign information and metrics (e.g. number of impressions and clicks). Data providers grant advertisers additional proprietary consumer data licenses to use to determine whether a consumer is part of a particular consumer segment they wish to target and, in turn, whether and how bid on the opportunity. There are various other tools used to measure, analyze and optimize the performance of advertising campaigns that connect to this process; for example, brand safety and ad verification providers can analyze the campaign to ensure that the ad is not served alongside inappropriate content that could harm the brand, that the ads are served at real people, not bots, and the ads are actually visible to the user on the page.

The foregoing description is by no means a complete or exhaustive discussion of the entire ad technology ecosystem and its many components. This is a simplified description, focusing on a small part of this ecosystem. But hopefully it will provide useful information to form a basic understanding of space. And again, I think it’s always worth going back to the Why advertising technology: serving ads in front of the right eyes.

Using data and technology in this way can trigger several complex legal and regulatory compliance requirements. Additionally, the contractual agreements governing the sale, licensing, and use of this data and technology can also be quite complicated. I help brands, agencies, publishers, data providers and ad tech platforms manage these complex agreements and legal requirements. The ecosystem runs on data. This includes transactional data, such as the time of day an impression was triggered and the auction price for the impression. And it also includes data about the consumer viewing the ad, such as the consumer’s location and device type and whether the consumer belongs to a particular demographic or behavioral segment (e.g., age, gender, travel, sports enthusiast). Agreements governing transactions in this space should address the collection, ownership and use of this data. Additionally, because some of this data meets the definition of “personal information” or “personal data” as defined by various U.S. privacy laws and international privacy frameworks, it is important to understand and meet all compliance obligations under such laws. Similarly, if you are developing new products and services in this space, you should map and understand data flows early on to assess data privacy compliance obligations and necessary contractual terms.

In addition to these data issues, many other issues that you would normally encounter with advertising, media buying, and technology platforms in general also come into play. These include editorial guidelines and requirements. brand safety; fees and terms of payment; cancellation and termination conditions; matters relating to the ownership, use and licensing of intellectual property; compliance with Federal Trade Commission guidelines regarding native advertising, endorsements and testimonials, and social media marketing; platform service level requirements (e.g., platform availability, uptime, and problem response times); and issues related to standard contractual representations, warranties, indemnification and liability limits, all of which may come into play.

It can get complicated. But I guess that’s where the “pitch” part of this elevator pitch usually comes in. I have years of experience partnering with brands, agencies, and ad tech companies to help them solve these complex problems. I’m a tech enthusiast at heart and I find this space super interesting. Things in this space are changing rapidly – I’m learning new things every day, and I think that’s great. I hope this article has given some of you a better understanding of advertising technology. I look forward to continuing to work in this space and seeing how it evolves over time, and am excited to help clients navigate this complicated landscape.

[View source.]

Proposed California Commercial UDAAP and Annual Report Regulations to be Promulgated Under California Consumer Financial Protection Act | Sheppard Mullin Richter & Hampton LLP

Two weeks after the DFPI set December 9 as the effective date for its long-threatened trade finance disclosure requirement (we discussed these regulations in a previous bog, here), the DFPI has published draft regulations on commercial UDAAP and annual reports that may affect many of the same companies. More specifically, the proposed settlement would apply to providers of commercial finance or other financial products and services to small businesses, non-profit organizations, and family farms, and (i) extend the DFPI’s UDAAP authority, and (2) impose annual reporting requirements to covered suppliers (we briefly discussed this proposed regulation in a previous blog post here).

The proposed UDAAP and annual reporting regulations follow the DFPI’s nearly four-year effort to promulgate commercial finance disclosure rules, which have generated widespread industry concern and comment, as explained in details page 200+ of the DFPI. final statement of reasons. In light of the lengthy process of finalizing the disclosure regime and proposed regulations stemming from a separate consumer protection law, some weary industry participants appear to have been caught off guard.

Notably, the definition of “small business” refers to a definition set forth in the California Code of Civil Procedure, which includes an independently owned and operated business, not dominant in its field, and below specified maximum revenue thresholds. annual gross. The proposed settlement will require commercial lenders to file reports annually, showing (i) the total number and dollar amount of transactions with small businesses, family farms and non-profit organizations, (ii) the number of transactions by amount financed and type of trade finance or other financial product or service, and (iii) the minimum, maximum, average and median total cost of financing by type of transaction, calculated in accordance with trade finance disclosure regulations .

Written comments on the proposed settlements must be filed by August 8.

Put into practice : Some commercial lenders may consider DFPI promulgation of proposals commercial regulations under a consumer protection law somewhat troubling, notwithstanding that the law grants this power to the DFPI. Political debates aside, which are undoubtedly prolific if the back and forth between industry and the DFPI regarding commercial finance disclosures is to be believed, the settlement calls into question some potential operational challenges that commercial financiers may face, including:

  • The proposed regulations will require affected businesses to report information they do not currently collect from business customers, such as gross annual revenues, which is key to determining what transactions should be reported and how. The proposed regulations do not set out a preferred protocol or exemption method as to how trade finance companies should collect and verify the information necessary to determine whether a company meets, for example, the definition of a ” small business “.
  • Unlike the trade finance disclosure requirements, the reporting requirements apply more broadly to companies that are not involved in the provision of trade credit. Specifically, companies that service commercial credit accounts will be required to report the loan amount and APR information, even if those service companies have not extended that credit or performed the calculations that must be reported. Accordingly, loan servicers may need to certify the accuracy of the information and data provided by the originators of these products. It is unclear whether the DFPI expects companies to prepare reports based on derived information, and how such information should be identified if it is not based on a manager’s independent analysis or verification. of loans. In addition, it remains to be seen whether reporting of this information by providers can be exempted if it duplicates information already provided by shippers.

Trade finance companies wishing to participate in the rule-making process should submit their comments to the DFPI.

What is the alternative loan? – Small Business Trends

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Small businesses and individuals who do not wish to go through traditional banks, be careful. Alternative loans are one way to get the funds you need. Alternative lenders can reduce traditional paperwork.

They provide business financing that is characterized by accessibility, flexibility and speed. Plus, you can get a loan without having to go through traditional channels. All good reasons to keep reading. And learn more about this ideal option for small businesses.

What is the alternative loan?

Alternative lenders focus on business loans which generally have higher interest rates. But there is a benefit, like simplified applications and looser requirements. In addition, faster times to fund these installment loans.

Many alternative lenders usually complete the process digitally. These online lenders use software to provide financing options, get installment loans, and other types of loans early.

The alternative business lending industry in 2022

This type of business financing is real competition for traditional loans. Transactions in this type of rapid financing are expected to reach $344.50 billion this year. It’s worldwide. This comes at a time when traditional bank loans will come with higher interest rates.

Many business owners are looking for alternative lending options as opposed to a conventional financial institution, here’s why.

Why You Should Consider Alternative Small Business Lenders

There’s more than one reason an alternative lender is good for small businesses. Consider the fact that 29% of SMEs lack capital and fail. In other words, cash flow can be a problem.

Here are five reasons SMEs should consider these alternative small business loans.

The application process is fast

An alternative lender uses digital technology for the application process. You can apply for an alternative business loan and receive a response in as little as 24 hours. This is perfect for credit lines of business looking to scale quickly.

Traditional loans involve a longer process. Loan officers take extra time to make sure your business is legit and low risk.

You are in a high risk industry

Alternative loans refer to different types. There are online lenders and private lenders as well as crowdfunding and market lending to consider. Traditional lending institutions make it difficult to obtain financing for high-risk industries. Some examples include the financial industry and construction.

There are more loan options

Alternative online lenders offer different loan options and are processed quickly. These are generally short-term loans that include:

  • A business line of credit. Take the money when you need it.
  • Equipment financing to purchase materials. Eligibility is determined by value of purchase.
  • Invoice financing. Alternative lenders offer loans based on unpaid bills.

There are others to choose from.

Your business has poor credit

The business owner with a lower credit score can get money from an online lender. Banks generally require credit scores of 600 or higher. However, alternative lenders are more flexible.

Lax restrictions on how you use the money

Alternative business lenders allow you to use the money however you see fit. Basically, inventory and equipment financing might be the exception. A bank loan, on the other hand, often requires a detailed plan.

Best Alternative Loan Options for Small Business Owners

Avoiding a traditional bank loan means finding alternative lending companies. Find one that offers these options for your alternative loan.

1. Cash Advances to Merchants

These are common, but they are more suitable for SMEs that do business by credit card. Get the advance and pay it back with a percentage of those transactions and a merchant cash advance fee.

2. Invoice financing

Also called invoice factoring. Get money based on unpaid bills. You can get 85% of the value up front and the rest (15%) is paid to you when the bills are paid, less fees. Invoice financing is a quick option.

3. SBA Loans

These are guaranteed by the government. They have low but long term interest rates. Here’s what the Small Business Administration wants you to know. Your personal credit score will be reviewed as well as your business credit score.

4. A commercial line of credit

These products work that way. Take the money when you need it and pay it back with interest, then these lines of business reset. The lending models of the big banks have them too. But they are more difficult to qualify. The alternative loan process is streamlined.

5. A term loan

Often identical to a traditional version. There are fixed or variable rates and fixed payments. One difference being that there are higher interest rates and shorter terms.

How do alternative lenders work?

These companies provide business loans. When a business does not meet a bank’s minimum annual income standards or when its business credit or minimum personal credit score is not up to scratch.

Alternative loans have more leeway in how they package their products. They take what the bank might consider bad credit. They are faster than banks and credit unions. But that usually means higher rates.

What are examples of alternative business loans?

Interested in this type of small business loan? Here are some examples to consider.

  • fintech. You may be able to get lines of credit here. But these alternative financiers only operate online. You will get automated accounting and online payments with Fintech. Kabbage is one of the companies called alternative lenders that can help you.
  • Peer-to-peer lending. People lend and borrow from each other.
  • Non-profit lenders. Do you have a positive balance with your community? But have you only been in business for a short time? Get lines of credit for less than $50,000.
  • A credit union. A good solution if your working capital is low. Installment loans have fixed interest rates.

What low-risk alternatives to cash are available to businesses?

Traditional lenders most often require collateral. Some of the best low-risk alternative options that don’t need collateral include:

Term loans.

Get a lump sum to buy fixed assets like a new building.

Peer-to-peer lending

Investors come together to pool money. These loans are unsecured.

Lines of credit

Money can be borrowed as and when a small business needs it. Remember, those that are unsecured have higher interest rates.


Image: Envato Elements

What NFL analyst and Hall of Fame QB want to see Eagles’ Jalen Hurts improve this season

An offense will only go as far as their quarterback leads the team. The situation is no different for the Eagles, hoping Jalen Hurts continues to improve and make the franchise a legitimate contender in the playoffs.

Hurts and the rest of the Eagles will report to the NovaCare Complex on Tuesday for training camp, taking to the field to start working on the fundamentals and participating in seven-on-seven and team drills. After starting 19 games in his career, Hurts continues to grow in this position, having moments that make him look like a top-10 quarterback while showing he has areas for improvement.


One of the people who has followed Hurts closely is NFL Network analyst and Pro Football Hall of Fame quarterback Kurt Warner. Warner told NJ Advance Media that Hurts brings a lot to the table at quarterback, but wants to see him grow in one area specifically.

“I think the hope is that he feels more comfortable playing in times,” Warner told NJ Advance Media. “I think what we know of Jalen is that his skill set lends itself to their running game, reading the zone and his ability to create and make big plays. But I still believe that all of those quarterbacks, come playoff time, have to be able to play inside the pocket. They have to be able to play on time, make the layups, and then allow their special skills to be special. This is the area he needs to improve.

Hurts could take advantage of the Eagles offensive line and its ability to pass protection. According to Pro Football Reference, among starting quarterbacks who played in at least eight games last season, Hurts had the longest time to throw from the pocket (2.7 seconds).

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One example Warner pointed out last year on the “Kurt Warner x QB Confidential” YouTube page was Hurts quickly exiting a pocket formed in the Eagles’ October loss to the Tampa Bay Buccaneers. Although Hurts was able to run for a first down on the play, Warner pointed to two receivers who were open on the play.

Warner said Hurts was in the same category as Arizona Cardinals quarterback Kyler Murray as an athletic quarterback, but also said the two flaggers are still ongoing. Warner wants both QBs to show pocket development to help with their short-term and long-term growth.

“You want to see them use their athleticism when they have to,” Warner said. “Instead of trying to live in this world, which is so difficult at this level, you want to see progress with some of these other things to make the game easier to play. They’re so young and have a long way to go. For when those athletic traits start to wane or aren’t as vibrant later in their careers, you can always count on winning with these guys because they’re full quarterbacks.

As for how Hurts and the rest of the Eagles’ offense are doing, Warner said the Eagles shouldn’t feel pressured to throw the ball any further into Hurts’ sole goal entering his third year. Instead, Warner thinks the Eagles should use the same philosophy that got them to the playoffs last year, figuring out how to let Hurts grow while using the weapons around him and creating an offensive identity.

“I think it’s also important not to always force the issue,” Warner said. “Even though they have AJ Brown and they have DeVonta Smith and all these other guns, they showed up last year when they ran the ball first and allowed the passing game to be a play. additoinal. I think it’s important not to think that because Jalen is in his third year and they have talent around him that they should change things up and go back and use the passing game the way they do. did at the start of last season when they weren’t very good. ”

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Chris Franklin can be reached at [email protected].

Vessel operations resume at US port of Oakland, but truck activity remains effectively halted

Ships were being loaded and unloaded at the four marine terminals at the US port of Oakland on Friday, but the Pacific Coast port remained effectively closed to truck traffic as drivers continue to protest California’s bill on Labor Law Assembly Bill 5 (AB5).

Truckers are protesting because the new law would require them to be paid employees instead of independent contractors, the business model used by up to 70,000 owner-operators across the state.

Danny Wan, executive director of the Port of Oakland, said in an open letter to truckers that he met with some of the protesters on July 21 to discuss the group’s concerns and goals.

“We are committed to working with the independent trucking community,” Wan said in the letter, adding that he and other port officials have been in constant communication with the governor’s office.

Wan said the port will establish a working group with representatives from both parties that will review concerns about AB5, address trucker amenities and services at the port, and discuss upcoming rules and implementations. clean trucks.

Local authorities have set up free speech zones in a bid to reopen the port to truck traffic, but local media reported that crowds of drivers continued to block truck entrances.

“Owners/operators must comply with all vehicular and local regulations,” the letter states. “Any protester who does not follow the law may be cited and punished by responsible law enforcement.”

The open letter contained a message from the governor’s office.

“California is committed to supporting our truck drivers and ensuring that our state’s truck drivers receive the protections and compensation to which they are entitled,” the statement said. “This administration has employment tax incentives, small business funding and technical assistance resources to support this critical industry.”

“The state will continue to partner with truckers and ports to ensure the continued flow of goods to California residents and businesses, which is essential for all of us,” he said.

The Port of Oakland is the eighth largest port in the United States.

In addition to containers, the port also handles imports and exports of liquid chemicals.

Container ships are relevant to the chemical industry because, while most chemicals are liquid and are shipped in tankers, container ships carry polymers such as polyethylene (PE) and polypropylene (PP), which are shipped in pellet form.
Source: CIHI, by Adam Yanelli (https://www.icis.com/explore/resources/news/2022/07/22/10787890/vessel-ops-resume-at-us-port-of-oakland-but-truck-activity-remains-effectively- close/)

This week in pieces: Ethereum overtakes Bitcoin as markets thaw

This week in parts. Illustration by Mitchell Preffer for Decrypt

Companies are doing everything in their power to stay solvent through the crypto winter — freezing buybacks, laying off employees, cutting expenses, filing for bankruptcy, negotiating takeovers — but those conditions couldn’t prevent the markets to heat up over the past week.

Bitcoin is up 8% in the past seven days to hit $22,337, at the time of this writing, but the world’s favorite cryptocurrency has been heavily outperformed by Ethereum, which has surged 27% to 1,523 $.

Anticipation of Ethereum’s next network upgrade – the so-called merger – seems to have spurred its growth, although Ethereum Classic (a fork of Ethereum based on the original ledger, which includes records from an infamous $55 Million DAO Hack which was wiped from Ethereum by vote), jumped 80% this week to $27. Obviously, while some buyers are looking to the future, others are nostalgic.

Other blockchains with high functionality smart contracts performed well: Solana rose 9% to $40.04, Cardano rose 10% to $0.47, Polkadot rose 9% to $7.25 , the NEAR protocol inflated 25% to $4.26 and Avalanche rose 23% to $23.57.

Other notable rallies for the week included Chainlink up 9% to $6.78, Cronos up 9% to $0.12 and Bitcoin Cash up 15% to $121.07.

No leading coin suffered significant weekly losses.


Even as the markets warmed up, signs persisted that the crypto winter was far from over. Last week, Celsius joined fellow lender Voyager and crypto hedge fund Three Arrows Capital in bankruptcy filing after weeks of rumors of insolvency. This week, Singaporean exchange Zipmex became the latest to stop withdrawals— after Vauld and Celsius.

Along the same lines, Legion Strategies, a hedge fund affiliated with Anthony Scaramucci’s Skybridge Capital, investor redemptions halted. Legion Strategies owns shares in Sam Bankman-Fried’s FTX. About 10% of the $230 million in assets held by the fund are cryptocurrencies.

Blockchain.com has joined the ranks of Gemini, Coinbase and OpenSea in announcing collective redundancies which include closing its Argentina operation, effectively halting expansion plans. Coinbase also announced that it is “temporary closurethe company’s US affiliate marketing program to cut costs.

News broke on Wednesday that electric car maker Tesla had sold 75% of his Bitcoin, worth about $936 million. In February 2021, the company invested $1.5 billion in Bitcoin.

Elon Musk may be less bullish on Bitcoin, but he noted later that Tesla still owns all of its Dogecoin, which over the week is up around 6%.

The European Central Bank announced this week that interest rates increase up 0.5% as the bloc tries to stem runaway inflation which hit 8.6% in June. This also signals the end of the -0.5% negative interest rate offered by the ECB since 2014. The prices of major cryptocurrencies have all taken a small blow on the news.

Finally, Paraguay and Colombia have moved closer to crypto regulation, with the Paraguayan legislature approving a bill to create a fiscal and regulatory environment for crypto miners, while Colombia released draft regulation solicit public comment.

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The 8 Best Options for Getting Financing for Small Businesses

For many small businesses, access to finance can be a matter of life and death.

The stakes are particularly high given that 18.4% of U.S. businesses fail in the first year, 49.7% after five years, and 65.5% after 10 years, according to a LendingTree analysis of U.S. Bureau of Labor data. Statistics. One of the main reasons businesses fail is lack of funding, so it’s especially important to know who to turn to if you need a lifeline.

While the options may depend on factors such as size, industry, quantity needed, timeframe, and purpose, here are eight possibilities to consider:

1. Family and friends

This can be a great place to turn, as it usually doesn’t come with a lot of financial requirements or other prerequisites. “Uncle Charlie will be more likely to believe in you without the need for detailed financial documentation,” said Joshua Oberndorf, private business services group leader at EisnerAmper.

Advantages: Easier access to needed funds without high interest rates.

The inconvenients: Failure to repay funds in a timely manner, or complete renunciation, could damage family relationships. “Money is as much accounting as it is psychological,” Oberndorf said.

What else to know: According to the IRS, family members are expected to charge a minimum interest rate to avoid negative gift tax consequences. The The IRS publishes these applicable federal rates (AFR) on a monthly basis.

2. Banks

Advantages: Reliable and well-established source of funding. Can be less expensive than other options and offers the possibility of developing the lending and banking relationship over time.

The inconvenients: Banks may have rigid loan requirements, including a good personal credit rating and sufficient cash flow and income, which may be out of reach for some borrowers, and the process can be slow, sometimes taking several weeks to obtain. a loan.

What else to know: Rates can range from around 3% to around 7%, according to LendingTree. Consider a smaller bank, which might be more willing to extend credit and explain some of your options to you, said Matt Barbieri, chartered accountant at Wiss & Co., which provides business advisory services.

3. Online lenders or lenders

Advantages: Provides quick access to capital, usually through a simple online process.

The inconvenients: It can be difficult to discern the true cost of capital, especially with a merchant cash advance, which is an upfront sum that a business is required to repay using a percentage of debit and credit card sales, plus expenses. Some online lenders and funders may not have a long track record, and the option may be more expensive than others. An online loan, for example, has an APR of between 7% and 99%, while the approximate APR of a merchant cash advance is between 40% and 350%, according to NerdWallet.

What else to know: Do your due diligence on any online lender or funder you consider using, said Craig Palubiak, president of Optim Consulting Group. Make sure the company has a good reputation and several good reviews, and be sure to compare multiple options. It is also important to explore the total cost of capital, taking into account the interest rate, if any, prepayment fees and penalties, if any.

To help you understand the true cost of a merchant cash advance, use a online calculator.

4. SBA Loans

Advantages: Federal support provides access to low-rate bank financing for small and large loans. There are different types of loans and lenders and programs have unique eligibility criteria. Resource Centers are available to help business owners, including those in underserved communities.

The inconvenients: The approval process can be slow. The time frame depends on the loan, but usually it can take a few months. A deposit or a guarantee may be required. Low credit applicants may not be approved.

What else to know: There are different types of SBA loans and the maximums vary. The most common type of SBA loan is called a 7(a), and you can expect to pay between 7% and 9.5%. “Be ready to work on a refinance as soon as the deal allows,” Barbieri said. This will allow you to remove personal guarantees and covenants that can stifle growth, he said. An SBA loan can offer a longer repayment term — under the 7(a) program, up to 10 years for equipment and working capital; 25 years for real estate — and can offer competitive interest rates compared to conventional bank loans.

5. Credit cards

Advantages: Quick access to capital with the possibility of rewards. This could be a good option for short-term financing needs, if you’re sure you can pay off the debt before interest starts accumulating. Business cards tend to carry higher credit limits than personal cards.

The inconvenients: Interest rates can be high. Cards ranked high by Creditcards.com offer APRs ranging from nearly 10% to nearly 35%, and some cards charge annual fees. Generally not a good option for large financing needs.

What else to know: “Don’t rely on this as your sole source of funding for growth; if you’re too risky for other categories, consider it seriously before taking out consumer credit as a business,” Barbieri said.

6. Investors’ equity

Private grants, private equity, and individuals with money to invest can serve as funding sources.

Advantages: Positive cash flow, plus expertise to help drive the business forward.

The inconvenients: Capital dilution, difficult to find the right match.

What else to know: Palubiak recommends owners tap into their network and affiliate with start-up communities and local organizations to build relationships with investors.

“Spend as much time as possible dating before choosing your mate,” Barbieri says. “Make sure their goals are aligned with your goals or this will end badly.”

7. Federal, State and Economic Development Grants

Advantages: Generally non-dilutive, can be small or large.

The inconvenients: There may be administrative hassles and restrictive eligibility requirements.

What else to know: It could be a good option if you’re a business that can be considered “important” to your region’s infrastructure, Barbieri said. Start your search by searching for resources on the US Economic Development Administration to find EDA regional office contacts, state government contacts and other information.

8. Crowdfunding

Advantages: Allows you to access capital without accumulating debt, and the opportunity to raise funds and increase brand awareness with potential investors and customers while testing an idea.

The inconvenients: May have a low success rate. These may be fees associated with certain platforms. Additionally, launching a successful campaign requires marketing resources and time.

What else to know: There are a growing number of crowdfunding websites available. Before choosing a provider, make sure you understand how the platform works, the fees, who can invest, and how it might meet your specific funding needs.

REGISTER: Money 101 is an 8-week financial freedom learning course, delivered weekly to your inbox. For the Spanish Dinero 101 version, click here.

Disclosure: NBCUniversal and Comcast Ventures are investors in Tassels.

Look Inside: California Commercial Finance Disclosure Regulations

On June 9, 2022, the California Office of Administrative Law approved the Department of Financial Protection and Innovation’s final rule implementing California’s first commercial finance disclosure law. The regulations come into force on December 9, 2022. In our first in a series of client alerts on this topic, we discussed the scope of the Trade Finance Disclosure Act (the “Act”). In this second alert, we take a closer look at key disclosure requirements and some of the key issues vendors will face when preparing compliant disclosures.

Disclosure Delivery Requirements

The law requires a provider to provide information “when making a specific trade finance offer.”[1] The final settlement provides additional details, stating that this “time” includes: (1) each time a specific trade finance offer is made available to a recipient, or (2) the time a recipient selects a trade finance offer. specific, if the beneficiary received several offers at the same time.[2] A “Specific Trade Finance Offer” is a written communication to a recipient based on information from or about the recipient of specified finance information.[3]

In response to the comments, the DFPI explained that it was intentionally deviating and requiring disclosure earlier than the Truth in Lending Act (TILA), which requires disclosures prior to consumption. The DFPI recognized that this timeline may require donors to provide multiple pieces of information as funding conditions change over time. The DFPI asserts that multiple disclosures to the same addressee will not create confusion because only the final version needs to be signed.[4] However, the DFPI chose not to do any testing of the disclosures despite calls to do so, leaving the agency with no basis for this and other comment responses, as noted below.

In addition, the final settlement requires amended disclosures whenever the terms of an existing trade finance agreement are amended, supplemented, or modified if the amendments result in an increase in the annual percentage rate of charge (APR) and the amendment is not not brought to resolve the default of a beneficiary.[5] This new disclosure requirement goes beyond what is required by TILA and will require trade finance providers to develop policies and procedures to ensure that these disclosures are provided during any contract amendment process.

While the final rule expressly permits disclosures to be provided and signed electronically, it is silent on implementation. For example, the final rule requires disclosures to be presented as a “separate document,” but allows disclosures to be mailed or transmitted in a package containing other documents. It is unclear whether this means that electronically transmitted disclosures must be, for example, in a separate PDF file or can be provided on a separate page of a larger PDF file.

Disclosure format and content requirements

The final rule includes detailed formatting requirements, including specific requirements for font sizes, safe column width ratio, disclosure cell formatting, and even a definition of the maximum word count where the final rule requires a “brief explanation”.[6]

The final settlement also details specific disclosure requirements and methods for calculating provided financing, APR, finance charges and prepayment penalties. Depending on the type of financing offered, other conditions are required, such as the average monthly cost, the duration or the drawdown period. Specific disclosure requirements vary for (1) closed-end transactions, (2) open-ended credit plans, (3) factoring transactions, (4) sales-based financings, (5) finance leases and (6) general assets. lending operations based. General disclosure requirements apply to any commercial financing that does not fit into one of these six categories.

In several cases, the final rule reflects a more streamlined approach to disclosures by eliminating the explanation requirements of earlier versions of the rule in favor of brief statements specified in the final rule.[7] For example, the Department has eliminated the requirement that a supplier explain how the original contract interest rate was used to calculate finance charges and instead requires a statement that the interest rate will be adjusted so that actual finance charges will vary.[8]

If the funded amount is greater than the net amount delivered to the payee in the form of cash, check or electronic funds transfer, the provider must provide additional, separate disclosure with a breakdown of the funded amount similar to that required by Regulation Z.[9] The breakdown of the amount financed should immediately follow the other information, but should be provided in a separate document.[10]

The DFPI has refused requests to run tests to determine the effectiveness of the disclosures, so there is no basis for the detailed requirements.[11] The DFPI also rejected a request to provide model forms.[12] Throughout the rule-making process, commentators have expressed concern that certain aspects of the disclosures could confuse recipients, such as the requirement to disclose the “average monthly cost” for all products, whether payments are made on a monthly basis or at another frequency. .[13] Since the DFPI has not conducted any testing, it remains to be seen how customers may react to these disclosures, and providers should plan for the possibility that customers may have questions.

The Final Rule allows a provider to deviate from the font requirements (but not the column width requirements) if the provider determines in good faith that the deviation is necessary “for clarity based on the medium (e.g. , a mobile device).[14] But the DFPI has not provided guidance on how to present disclosures and meet other disclosure requirements for mobile devices.

APR and finance charge calculations

The DFPI has always opted to require the disclosure of an APR, rejecting other measures such as the annualized cost of capital.[15] In response to comments that the APR would confuse recipients of cash advances, factoring and other financing for which the provider does not charge interest, the DFPI opted for a statement in the disclosures that the cost is based on fees rather than interest.[16]

Although the DFPI relied heavily on the methodology of Regulation Z for calculating APRs and finance charges, the Final Rule departs from Regulation Z in several key areas. For example, the Final Settlement requires a calculation in accordance with the closed APR calculation methodology set forth in Schedule J of Settlement Z for everything APR calculations.[17] This means that providers of open-ended credit transactions cannot use the open-ended APR calculations under Regulation Z.[18]

For open-ended credit transactions, the Final Rule therefore requires providers to include all finance charges in the APR calculation, including certain transaction-based charges, one-time charges, or charges that are behavior-dependent. borrower that would not be included in the APR calculation. APR calculation under TILA. For example, an open-ended credit plan that charges a fee for each draw made would not include that fee in calculating the APR under TILA, but the final rule requires the provider or funder to assume that the Borrower makes a single draw of the full credit limit and include the fees associated with the draw in their APR calculation.[19]

The final rule also does not specify how to deal with certain financial charges which may depend on the choice of the borrower. For example, if an open-ended credit plan imposes foreign currency transaction fees, the final settlement does not specify whether the provider should assume that the borrower will or will not incur foreign currency transaction fees.[20]

In addition, the DFPI declined to respond to a commenter’s request for the DFPI to indicate that vendors and funders can rely on the official Staff Commentary on Regulation Z, which contains a significant amount information relating to the determination of the financial burden for the purposes of this regulation.[21]

The final rule specifies what estimates must be made in order to calculate APRs for transactions for which APRs have not historically been calculated, such as sales-based financing transactions. The DFPI has recognized that for these transactions, the disclosed APR and the actual APR can vary significantly. The agency dismissed comments questioning the effectiveness of the disclosures and the ability to compare costs between different funding options, saying it was sufficient to require a statement in the disclosures that the estimate may differ from the estimate. effective APR.[22] Similarly, the DFPI rejected comments that pointed out that identical merchant cash advance products may have different disclosed APRs if providers or lenders use different authorized estimates in APR calculations.[23]

APR tolerances and safe harbors

The final settlement includes APR tolerances and error correction provisions similar to those provided by TILA. Providers and lenders are not liable if disclosed APRs deviate from the actual APR by an allowable amount. The final settlement also includes a safe harbor for errors corrected within 60 days of discovery and before an action is filed, provided the recipient receives notice and any necessary account adjustments. This protection is similar to the TILA safe harbor. Unlike TILA, however, the final rulebook does not provide a haven for errors discovered during an exam.[24]

Throughout the rulemaking process, many commentators called for other safe harbor provisions to be included in the final rulebook, such as a safe harbor for unintentional bona fide errors ( similar to the safe harbor provided by TILA) and greater error tolerance for sales-based financing and capital-based lending assets. While acknowledging that the disclosure obligations under the regulations are new and untested, the DFPI has rejected these requests.[25]


In future alerts, we will discuss disclosure requirements for merchant cash advances and the status and scope of merchant finance disclosure laws enacted by New York and other states.

5 things black America needs to know

According to Lending Tree, some 43% of Americans have used a buy-it-now, pay-later (BNPL) service this year. That’s up from 31% in 2021. Apple is now looking to capitalize on market growth.

BNPL is a retail payment option that allows consumers to split a purchase into smaller installments; most services are interest-free and free of charge – as long as payments are made on time.

Apple, which already owns Apple Pay and a credit card launched three years ago with Goldman Sachs Group Inc., is expected to launch its own BNPL service later this year.

Apple Pay Later will allow consumers who buy with Apple Pay to split their purchases into four payments every two weeks. Apple will guarantee the loans and fund them, the Wall Street Journal reported.

Apple will rely on credit reports and FICO scores to verify applicants’ financial status before approving BNPL funding.

Here are five things black America needs to know.

1.The BNPL market for Apple

Gen Z, black adults and Hispanic adults are more likely to use BNPL than the U.S. population as a whole, Morning Consult reported. About 12% of black households used BNPL, compared to 9% of white households.

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Younger and less financially healthy households are four times more likely to use BNPL

And more and more people in general are turning to BNPL. Almost half (46%) of users had used BNPL three or more times in the previous 12 months, as of November 2021, Morning Consult reported.

2. Increasing late payments

BNPL users tend not to be financially sound; they often have difficulties with credit. Thus, 43% of BNPL users report having subprime credit ratings, compared to 24% of non-users. And, 77% of BNPL users who also have credit cards with outstanding balances, compared to just 49% of non-users, according to the Financial Health Network.

Because many BNPY users are struggling financially, the number of late BNPL payments is on the rise. According to the Morning Consult survey, 20% of BNPL users missed a payment in January 2022. Another survey, that of Lending Tree, found that 42% of BNPL users made a late payment.

3. Possibility of overspending

Almost a third (30%) of users spent more than they would have spent if BNPL had not been available. Experts say BNPL can be a gateway to overspending for many consumers. In fact, nearly 70% of BNPL users admit to spending more than they would if they had to pay for everything upfront, Lending Tree reported.

4. Apple Pay Later and others

Apple Pay Later will join many other companies in the BNPL sector. Companies offering BNPL services include Affirm, Afterpay, PayPal, Sezzle, Zip and Klarna; various banks, payment processors and other businesses.

5. Government investigation

Concerned about the rapid growth of BNPL firms, in December 2021 the Consumer Financial Protection Bureau (CFPB) opened an investigation into BNPL. The bureau said it was concerned about consumers “accumulating debt, regulatory arbitrage and data collection in a consumer credit market that is already rapidly changing with technology.”

Photo by Kindel Media: https://www.pexels.com/photo/a-woman-shopping-online-using-a-laptop-7007176/

$10,000 interest-free loans available for Tucson BIPOC biz owners

$10,000 interest-free loans available for Tucson BIPOC biz owners

Bennito L. Kelty


The local nonprofit Community Investment Corporation is accepting applications for a second year of microloans for minority-owned small businesses in southern Arizona. Eligible businesses must be owned, at least in part, by anyone who identifies as Black, Indigenous, or a person of color for BIPOC loans.

In 2021, 15 young business owners received up to $10,000 in interest-free loans of the $100,000 that was available under the CIC program in its inaugural year. This year, the funding available for this year’s loans has tripled to $300,000.

To benefit from the loan:

  • At least 50% of business owners must identify as BIPOC
  • Must-Have Business in Southern Arizona
  • Businesses can be at any stage of development, including startups

Applications are free, but CIC will no longer offer a $100 grant to any business owner who completes the application as it did last year. Businesses can apply for a minimum loan of $500, which few do as most grants are for $5,000 or $10,000.

The story that entrepreneurs tell in their entry will be the “main factor” in choosing the winners, said CIC chief executive Danny Knee.

Three to four loans will be issued per month, which is a change from last year, when all loans were issued at the same time. The CIC expects to award 36 to 40 awards within a year with the new format.

Applications will be reviewed once a month and the first group of winners will be announced around August 5th. The new format eliminates strict deadlines as new application windows will open at the start of each month.

BIPOC committee takes ‘100% of the decision-making’

The winners will be selected by a committee of members of the BIPOC community outside the banking and financial sector. The selection committee “will have 100% of the decision making” for the loans, including credit eligibility and the amount awarded to each winner, Knee said.

The CIC is reaching out to non-banking or financial communities for the committee to develop an “innovative application and approval process,” Knee said. Banking professionals are “sometimes part of the problem” of racial inequality, Knee said, but BIPOC’s selection committee chooses its own solvency standards to circumvent that.

“(Traditional underwriting) just doesn’t meet the needs of everyone who needs financing,” Knee said. “BIPOC entrepreneurs, in general, are being denied credit more often, they’re being charged higher credit rates to get a loan, and so there are some really problematic outcomes.”

Applying is “really easy,” Knee said, but “it’s a bit more work after you hear ‘yes’.” Applicants may have to fulfill additional requirements that the committee recommends as a loan condition.

The selection committee may recommend that candidates learn some skills before receiving the loan. Startup Tucson and YWCA Southern Arizona, both CIC partners in the program, will provide candidates with training in business basics, marketing, profit and loss reporting and the use of balance sheets, among other courses. The program also offers to connect entrepreneurs with mentors or subject matter experts.

The format is supposed to “respect people’s time” and let applicants know whether they’re approved or rejected before spending too much time gathering paperwork and completing the application, Knee said.

“In a typical loan process, there’s a lot of document collection, all of those things. It may look a bit like a black box. People don’t know what makes them qualified,” he said. “They put all these things together and can hear ‘no’. I don’t think that respects people’s time enough.

CIC announced 16 BIPOC loan winners last year, but only 15 ended up receiving the money because one dropped out during a financial analysis after being approved. The entrepreneur “decided he wasn’t ready for the loan yet” after being approved, Knee said.

“We think it’s a win,” Knee said of the candidate’s loss last year. “They had the agency to decide that was absolutely fair and they weren’t ready for that yet.”

CIC approved loans of $102,000 last year, but only granted $94,000 after the contractor gave up.

“Calls for racial equity and justice”

Last year’s selection committee included members from local businesses, agencies and organizations such as Tucson Electric Power, the Pima County District Attorney’s Office, Casino del Sol and Blax Friday. The CIC is not represented on the committee.

CIC staff “simply provide the resources, the money and the administrative power, who can use our expertise to provide and manage the loans,” Knee said. CIC staff volunteer their time to work with the program.

CIC’s mission is to generate cash investments for residents and small community projects in Pima County. They also played a central role in administering the eviction prevention fund set up by the county and the city of Tucson.

The BIPOC loan program started in 2021 but stemmed from “CIC staff wanting to do something actionable, wanting to do something tangible in the wake of the murder of George Floyd in the summer of 2020,” their former door said. -speak last year.

CIC sought to fund entrepreneurs of color to respond to “calls for racial equity and justice” beginning in 2020. Initial funding for the program came from $2,700 in donations from each CIC staff member.

When CIC started BIPOC loans, they reported that 85% of American entrepreneurs started businesses with money from friends and family, but white families had five times the wealth of Hispanic families and 10 times the wealth of black families. The disparity in family wealth is even greater for Indigenous families than for Black families, according to the CIC.

Local businesses BLAX Friday and Startup Tucson worked with CIC to start BIPOC loans. Other companies such as Tucson Electric Power, United Way of Tucson, Women’s Foundation, Cox Communications, Tucson IDA, Pima IDA and PNC Bank donated to this year’s fund.

Everything repaid by business owners to the loan goes to next year’s BIPOC loans under a revolving fund. CIC tells loan winners they have to “pay it back to pay it back”.

The revolving fund is getting closer to the point where repayments alone can sustain the next year’s fund, instead of relying solely on donations. The success of the revolving fund model is what allowed CIC to begin offering the rewards monthly, Knee said.

The first series of BIPOC loans in 2021 went to entrepreneurs who were, among others, printers, designers, farmers, cleaners and media professionals. Some of the cases included Fungirl’s Mushroomswho sells gourmet mushrooms, and Neighborhood Booksa library for BIPOC authors.

Bennito L. Kelty is the IDEA reporter for TucsonSentinel.com, focusing on stories of inclusion, diversity, equity, and access, and a Report for America body member supported by readers like you.

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Cashfree Payments gets RBI approval for cross-border product

Cashfree Payments, a leading payments and banking API solutions company, today announced that it has received the green light from the Reserve Bank of India (RBI) for its cross-border payments product.

The approval comes as the company successfully pilots the solution during RBI’s second cohort as part of the cross-border payments regulatory sandbox. The product will allow Indian fintech companies to offer Indian investors the purchase of stocks, exchange-traded fund (ETF) units and other assets listed on foreign stock exchanges via UPI/Net Banking. Cross-border investments will fall under RBI’s Liberalized Remittance Scheme (LRS). In accordance with the RBI, the product may be considered for adoption by regulated entities subject to compliance with applicable regulatory requirements.

One of the most tedious steps for Indians looking to invest in foreign stocks has been funding their overseas accounts. Traditionally, this process requires filling out A2 forms, paying high fixed fees and even going to a bank branch in many cases. Cashree Payments’ solution makes the payment process through UPI, Net Banking and LRS compliance integrated, transparent and fully digital. Investors can start investing with small amounts, as low as INR 1,000. The solution also offers savings on foreign exchange (FX) fees and faster settlements for accessing funds.

With this model, investors will be able to simply log into an application integrated with Cashfree Payments, complete their basic KYC to start transferring in Indian currency (INR). The company will then convert this transferred amount into foreign currency, such as USD, and remit it to the foreign broker, allowing investors to successfully purchase international stocks.

While US equities, mostly from big tech and pharma companies, are most popular with Indian investors, Cashfree Payments works with several Indian fintech platforms looking to offer cross-border investing as a feature.

Reeju Datta, Co-Founder of Cashfree Payments, said, “We are delighted to have successfully completed the testing phase of RBI’s second cohort as part of the Cross-Border Payments Regulatory Sandbox. This achievement validates our efforts to constantly build innovative and efficient solutions in the payments ecosystem. Our cross-border payments platform aims to make investing in foreign stocks much easier and more convenient, allowing retail investors to make payments via local payment methods. The product was evaluated on various parameters, and the approval of the evaluation further reiterates the resilience and agility that are a hallmark of Cashfree Payments systems. We look forward to working with the Indian fintech ecosystem and providing access to international investments for Indian investors.

In September 2021, eight entities, including Cashfree Payments, were selected for the testing phase of RBI’s second cohort. The Cashfree Payments proposal was evaluated based on mutually agreed test scenarios and expected results on several metrics, such as innovation in cross-border payments, ability to transform the cross-border payments landscape and leveraging technology to deliver a cost effective, secure and transparent system. With the announcement of the release of the second cohort, the product was found to be viable under the boundary conditions defined during the tests within the framework of the Regulatory Sandbox.

With over 50% market share among payment processors, Cashfree Payments is now leading the way in bulk disbursements in India with its Payouts product. Recently, India’s largest lender, SBI, invested in Cashfree Payments, underscoring the company’s role in building a robust payment ecosystem. Cashfree Payments works closely with all major banks to build the core payment and banking infrastructure that powers their products and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay. Besides India, Cashfree Payments products are used in eight other countries, including the United States, Canada and the United Arab Emirates.

What is accounts receivable financing?

Too many unpaid invoices can affect business growth. But for many small business owners, a pile of unpaid invoices is a grim reality. If you are also struggling to stay afloat due to stacked accounts receivable, you can opt for accounts receivable financing to improve your business cash flow.

What is accounts receivable financing?

Accounts receivable financing, also known as invoice financing, is a type of financing option that allows you to access funds on your outstanding invoices. An accounts receivable finance company will provide you with capital of up to 100% of the total value of your unpaid invoice in exchange for a commission.

In other words, accounts receivable (AR) financing can help small business owners get paid early on their outstanding invoices in exchange for fees.

Accounts receivable financing should not be confused with invoice factoring. You sell unpaid invoices at a discount in invoice factoring, and the invoice factoring company takes full ownership of the unpaid invoices and collection of payments.

How does accounts receivable financing work?

Here’s how Accounts Receivable Funding works:

  • Your clients owe you $13,000
  • You contact an accounts receivable finance company with your application, invoice details and other documents
  • The company will review your request for accounts receivable financing and pay you $9,100 (70% of your accounts receivable). The amount of financing may depend on various factors, such as your type of industry, your personal and professional credit score, etc.
  • You will pay a weekly fee to the business until your customers pay their dues

Under an accounts receivable financing arrangement, your customers pay directly to your accounts receivable company. And the company pays you the remaining balance after deducting its fees and other applicable charges mentioned in the accounts receivable financing agreement.

Simply put, accounts receivable financing is a type of business loan where your unpaid invoices act as collateral.

Benefits of Accounts Receivable Financing

Here are the key benefits of accounts receivable loans over getting loans from traditional lenders:

  • Quick and easy application process
  • No collateral is required
  • Minimal paperwork
  • Flexibility to choose the capital amount based on your company’s outstanding invoices

Approval of accounts receivable financing is often dependent on your customers’ credit history. So businesses with poor credit may also qualify for accounts receivable financing.

Accounts Receivable Funding Costs

Total accounts receivable financing costs vary widely from company to company. There are often two types of costs associated with financing accounts receivable: the service charge and the interest rate. Sometimes companies also charge an invoice validation fee.

It is therefore recommended to receive quotes from several companies to choose the most economical option.

Is Accounts Receivable Financing Right For Your Small Business?

Accounts receivable financing or invoice financing can help small businesses improve cash flow, hire additional employees, purchase new equipment, build cash reserves, and improve their overall financial health. But is it fair to meet your small business expenses?

Here are the key questions to ask before applying for an accounts receivable loan:

  • Do you need capital immediately to meet seasonal demands?
  • Are you experiencing cash flow problems due to an accumulation of unpaid bills?
  • Is the cost of cash advances more than the expense of financing accounts receivable?
  • You are not able to pay the current expenses of your business?

You need to understand that accounts receivable financing can be more expensive than any other type of business loan. So, before you apply for an accounts receivable loan, you should first check all available financing options, such as business credit cards, traditional bank loans, and microloans.

Also, you should read these 11 ways to better manage your accounts payable and accounts receivable to improve your business cash flow.

Top Accounts Receivable Finance Companies

Here are the top accounts receivable finance companies to consider:

1. 1st trade credit

1st Commercial Credit is a leading invoice financing and factoring company. Having financed over 3400 customers, 1st Commercial Credit offers a wide range of financing solutions to help small businesses improve their cash flow and benefit from financial protection in difficult times.

You can set up your account for accounts receivable funding in 3-5 days. The company charges financing fees of 0.69% to 1.59%

2. Hose

If you run a SaaS business, Pipe may be your ideal choice for accessing working capital. It offers instant one-click payment. The company will help you turn your recurring income into initial capital.

3. Funding

If you use a QuickBooks Online account at your business, FundThrough may be one of the best invoice financing options. Its express invoice financing allows you to have capital the next business day. Plus, you can get 100% of your invoice amount as financing. And the process is completely online.

FundThrough is well suited for funding up to $15,000

4. Lendio

Lendio offers a wide range of loans for business owners, including SBA loans, business lines of credit, merchant cash advances and more. With Lendio, you can get capital up to 90% of accounts receivable.


If you are an Illinois State supplier, PayPlant may be your perfect bill financing partner. The company offers rates as low as 1.2% per month for businesses and app developers. And there are no costs or fees for providers in the state of Illinois.

6. Emblem

Crestmark specializes in offering various financial solutions for businesses. The company claims to disburse money to eligible borrowers within one business day. With Crestmark, you can get cash back on up to 90% of eligible invoices.

7. TCI Business Capital

TCI Business Capital is a household name in the market, offering monthly funding packages ranging from $50,000 to $7 million. The company serves trucking, manufacturing, oilfield services and more. Working with TCI Business Capital can help you receive same-day financing on your outstanding invoices.

8. altLine

altLine is a leading invoice finance and factoring company. The company claims to offer easy approval for its loan options. As a bank, altLine can reduce borrowing costs.

What are examples of accounts receivable?

Here is a great example of accounts receivable: a customer purchases goods worth $12,000 and pays $7,000 upfront and agrees to pay the remaining amount after 30 days. You will list $5,000 as accounts receivable on your balance sheet.

What are the common forms of funding to receive?

Common forms of receivables financing are invoice financing and invoice factoring. Invoice financing or accounts receivable financing is a way to get capital based on your unpaid invoices in exchange for a commission, where invoice factoring means selling your unpaid invoices (below their sales volume) for to get money.

Last thoughts,

Now you know all about accounts receivable financing and how it works. It’s time to learn how to get a small business loan. Of course, you will need to submit documents to apply for any funding. Reading a comprehensive guide to the small business loan documents you will need can help you significantly through the documentation process.

Image: Depositphotos

Loans are strong as borrowers leverage their credit

Over the past few days, we have received several earnings reports from major banks in the country. And on the surface, things weren’t so pretty. Monday, Goldman Sachs said profits fell nearly 50% compared to last year, partly due to a slowdown in corporate transactions. This helpd drive down Bank of America earnings too.

But when you look a little deeper into these reports, you’ll find that it’s not all bleak. In fact, banks have reported that personal and business lending has increased over the past year.

The main reason consumers borrow more is to spend more on their credit cards.

“I mean, it’s still full steam ahead, I think, from a credit standpoint,said Andrew Davidson of Comperemedia. People are also taking out personal loans and using buy-it-now and pay-later services, he said.

“You have this extremely competitive environment where consumers have more access to credit than ever before,” Davidson said.

Meanwhile, corporate borrowing has grown at the fastest rate in nearly 15 years, said Mike Mayo, banking analyst at Wells Fargo Securities. He said that’s partly because companies have been trying to build inventory.

“You’re also seeing more business expansion,” Mayo said. “And that’s been put on hold to some degree during the pandemic.”

Many business owners have taken out loans because they fear that if they wait, those loans will become too expensive, said Karen Kerrigan, CEO of the Small Business and Entrepreneurship Council.

“I mean, the cost of capital is only going to go up as rates go up because the Fed, you know, is making additional moves,” she said. Kerrigan said the rise in corporate borrowing could also be a sign that companies want cash to help them weather a downturn.

In fact, the banks themselves say they are setting aside more money in case borrowers do not repay their loans.

It’s better to be the concerned banker in the beginning and save too much than to wait too late to recognize the losses,” said Nate Tobik, founder of Complete Bank Data.

But Mayo with Wells Fargo Securities said banks aren’t setting aside as many reserves as they did at the start of the pandemic.

“Then you were looking at unemployment rates that could approach 15%,” Mayo said. “Now unemployment is below 4%, and maybe it’s going up a bit, but that’s night and day compared to the pandemic.”

And right now, Mayo said, borrower finances are healthy.

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Comparison of Visa (NYSE:V) and Spindle (OTCMKTS:SPDL)

Spindle (OTCMKTS:SPDL – Get Rating) and Visa (NYSE:V – Get Rating) are both finance companies, but which company is better? We’ll compare the two companies based on the strength of their earnings, dividends, risk, institutional ownership, profitability, analyst recommendations and valuation.

Insider and Institutional Ownership

80.8% of Visa shares are held by institutional investors. 14.6% of Spindle shares are held by insiders. By comparison, 0.2% of Visa shares are held by insiders. Strong institutional ownership indicates that endowments, hedge funds, and large money managers believe a stock is poised for long-term growth.

Analyst Notes

This is a summary of recent recommendations and price targets for Spindle and Visa, as reported by MarketBeat.com.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
Pin 0 0 0 0 N / A
Visa 0 4 19 0 2.83

Visa has a consensus target price of $263.13, suggesting a potential upside of 25.27%. Given Visa’s possible higher upside, analysts clearly think Visa is more favorable than Spindle.


This table compares the net margins, return on equity and return on assets of Spindle and Visa.

Net margins Return on equity return on assets
Pin N / A N / A N / A
Visa 51.10% 42.89% 17.63%

Valuation and benefits

This chart compares Spindle and Visa’s earnings, earnings per share (EPS), and valuation.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
Pin N / A N / A N / A N / A N / A
Visa $24.11 billion 16.57 $12.31 billion $6.36 33.03

Visa has higher revenue and profit than Spindle.


Visa beats Spindle on 7 of the 8 factors compared between the two stocks.

About the brooch

(Get an assessment)

Spindle, Inc. provides payment processing services to merchants using its Catalyst Gateway. It also acts as an agent, independent contractor or referral partner for merchant brokers whom it secures from other merchant processors for ongoing fees based on processing volume. The company serves small and medium-sized businesses. The company is based in Marco Island, Florida.

About Visa

(Get an assessment)

Visa LogoVisa Inc. operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions. In addition, the Company offers value-added card products, platforms and services. It provides its services under the Visa, Visa Electron, Interlink, VPAY and PLUS brands. Visa Inc. has entered into a strategic agreement with Ooredoo to provide an enhanced payment experience for Visa cardholders and Ooredoo customers in Qatar. Visa Inc. was founded in 1958 and is headquartered in San Francisco, California.

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Medication affordability challenges weigh on Australians as cost of living pressures rise

Izzy Sheppard feels like she’s constantly treading water to get her medical expenses under control.

“I am three unexpected medical appointments away from losing a large chunk of my life savings,” they said.

“What really turns me on is I’m going to be like, ‘I have to go to the store and spend $50 on groceries, go to the drug store and get my script’ and then be like, ‘Oh, I’m not spending $50, I spend $100’.

“‘I really shouldn’t be buying these things from the shops to be able to pay for my monthly medication’.”

“I have to save up to go to the doctor to get my repeat, which is $60 plus another $40 for my medication.”

Bi-weekly appointments with the psychologist, along with other medical appointments and prescription drugs, compete with rising costs of living, such as food, fuel and electricity.

At times, the Canberra-based arts worker has had to delay medical appointments.

“I really try not to, but I’ve moved the doctor’s appointments to the next pay fortnight so I can afford to go,” they said.

“I stopped going to the physio, I haven’t been to the dentist for two years.”

The national president of the Australian Pharmaceutical Society says pharmacists see people choosing between “putting food on the table or using the money to get their medicine”.(Pixabay)

Choosing between food and medicine

Health care affordability has emerged as the top financial concern of Australian voters, in a survey of 15 key seats commissioned as part of the Australian Patients Association and Pharmacy Guild of Australia’s Affordable Medicines campaign. Now.

The level of voter concern increased by 5%, from 78% of voters in January to 83% in April.

The number of voters finding drugs difficult to afford also increased by 5%, to almost a third of respondents, while the number of people who were unable to buy prescription drugs because they did not couldn’t afford rose 3% to 17 percent of voters.

Fei Sim, the national president of the Australian Pharmaceutical Society, said it was a growing problem.

“It is essential that every Australian continues to have access to affordable medicines.”

Dr. Fei Sim smiles at the camera.
Dr. Fei Sim says everyone should have access to affordable medicines.(ABC News: Pedro Ribeiro)

The federal government lowered the PBS backstop threshold in early July.

For concessional patients, the changes meant they reached the threshold after paying 36 full-price concessional scripts (up from 48) and would receive PBS drugs free for the rest of the year.

General patients only have to pay the concessional co-payment of $6.80 after 34 full-price scenarios, down from 36 before.

Starting in January 2023, the co-payment for PBS drugs will drop from a maximum of $42.50 to $30.

Dr Sim said while these measures would help with affordability, it was still not enough.

‘No more fat to cut’

Sally Parkes looks at the camera.
Sally Parkes, who suffers from chronic migraines and arthritis, worries about unforeseen medical bills.(ABC News: Billy Draper)

Sally Parkes, a Melbourne woman, lives with chronic migraines and arthritis.

“Last month I had to see a specialist at the last minute, see a physio, see a GP and change my prescription medications within a month,” she said.

“And it’s all very expensive to do in a short time.”

Ms Parkes found that after taking out a mortgage in December, she no longer had the savings buffer to cover unforeseen medical expenses.

“When an unexpected cost came along, I had to revamp something, I had to say no to doing something like going out,” she said.

Sally Parkes with a dog.
Sally Parkes says there was a time when she “had to shell out an extra $100 here and there” to try different medications.(ABC News: Billy Draper)

Ms Parkes said she was feeling the rise in other living costs and had run out of fat to cut from her budget.

“I’m lucky to have a family I can rely on, so there have been a couple of times where I’ve had to ask for a little bit of financial help to cover the costs,” she said. .

“There was a period where I was changing meds a lot and it was only every fortnight that I had to shell out an extra $100 here and there just to try different ones that would work and it was getting quite expensive.”

Affordability issues are more prevalent

Pharmacists and GPs are urging people to speak to them early if they are having trouble getting medicines or appointments.

Chris Moy, vice-president of the Australia Medical Association, said the issue of health care affordability was becoming more pervasive.

“The issues with people being able to afford their medications and therefore not taking them or saving money by skipping doses has always been a problem,” he said.

“I certainly hear it more now because of concerns about being able to afford other things, being able to get food for example, making sure people can afford food and other things. things like energy, electricity.”

Dr. Chris Moy smiles at the camera.
Dr. Chris Moy says doctors are able to help make drugs more affordable in many circumstances.(Supplied: AMA)

Dr Moy said doctors were able to help people in many circumstances.

“For example, we can look at their whole list of drugs and start prioritizing what’s really important and what’s less important, we can also offer people cheaper options, switch to a cheaper brand or a drug completely different that can have a very similar effect but will cost a lot less,” he said.

“It can first harm your health, not only in the short term but in the long term, also impact your ability to earn an income, which means you will go from frying pan to fire in terms of style of life.”

Pennsylvania cannabis industry lacks access to financial institutions – GantNews.com

By Anthony Hennen | The central square

(The Center Square) — Two bills in Pennsylvania’s legislative chambers could help the budding cannabis industry.

House Bill 2558 and Senate Bill 1167 would provide a safe haven for financial and insurance companies from regulatory or legal actions if they do business with cannabis companies. For patients, businesses, and the neighborhoods in which they operate, differences in state and federal treatment of marijuana have complicated the industry here.

On the one hand, the banking sector is not very involved.

“These businesses too, due to limited banking options and absolute domestic and international restrictions on using payment processors like Visa or Mastercard – they are going to be heavily reliant on cash,” said Scott Solomon, CEO of Operational Security Solutions. .

OSS provides security services for the cannabis industry around Philadelphia as well as in California.

Federal law still treats marijuana as a Schedule I substance, which means it has no approved medical use. Different states allow it for medical, recreational, or both, but the lack of federal approval keeps cannabis companies away from banking. The legal risks for financial institutions are too high.

Accompanying invoices could expand access to banking services.

Lack of financial services “is a risk to public safety as dispensaries are targets of robberies that put patients, employees and communities at risk,” Rep. Christopher Rabb, D-Philadelphia, wrote in a text. legislative. note. Legal risk also affects banks, real estate companies, security services, etc. “As the legal cannabis industry in the state grows, ancillary businesses will be critical to this emerging economy,” Rabb said.

Such legal protections and state-level banking access could benefit cannabis businesses as well as their neighbors. An unintended consequence of current law makes cannabis companies a target for criminals.

“If you’re a nefarious individual scanning a block, a cannabis business would probably be the most opportune for theft,” Solomon said. “You can get a product that you can easily convert, it’s basically anonymous, it’s very difficult to tie it to an individual – and money of course.”

Fixing what’s broken is the responsibility of financial institutions and individual businesses, Solomon said. Financial institutions working with cannabis “need to establish a very strong compliance program” and will need more staff and oversight to align with state and federal laws. Businesses need to be transparent with their banks, insurers and others to avoid breaches and stay compliant.

States like California and Colorado have served as models for medical and recreational cannabis programs in other states. As Pennsylvania debates legalizing recreational use, as The Center Square Previously reportedthe same legal and economic issues that affect the medical program will appear in any recreational program.

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Spotlight PA tested government transparency in Center County. Tell us what to look for in salary data.

Why Elon Musk Can’t Avoid Buying Twitter Even If His Bankers Are Bailing Out


When Elon Musk agreed to buy Twitter in April for $44 billion, he had a terrain to improve the business by adding new features, fending off spambots and being more transparent about its algorithms. He secured the backing of a consortium of banks who agreed to loan him more than half of the total transaction price to take over the business.

But now Musk wants out, accusing Twitter of not giving him more information and what he sees as the company’s business prospects. Twitter is suing him to make the deal, claiming his reasons for walking away are excuses to shirk a financial commitment he no longer wants to honor. Its backers, meanwhile, are blocked.

Twitter says his deal with Musk clearly obliges him to do everything he can to finish what he started. Similarly, the banks that agreed to give Musk billions in loans to help him buy Twitter have signed legal agreements prohibiting them from simply walking away if they change their minds, legal experts say.

What to know as Elon Musk’s rocky Twitter deal heads to court

“They’ve signed letters of engagement, so they’re basically engaged,” said Adam Badawi, a law professor at the University of California, Berkeley. Banks also have reputations to uphold. “Other companies wouldn’t want to work with them if they backed out,” he said.

Even if they find a reason to back out of the deal — for example, arguing that Musk’s flip-flop made the deal much riskier for them — Musk could be forced by a judge to find another. source of funding.

What role does debt play in Musk’s original deal to buy Twitter?

Musk is the richest man in the world, valued at $218 billion, according to the Bloomberg Billionaires Index, but even he doesn’t have $44 billion in hard cash under his mattress. It signed two deals with banks including Morgan Stanley, Bank of America and Barclays to lend a total of $25.5 billion. He has put up a significant portion of his own wealth in the form of Tesla stock as collateral, should he be unable to repay the loans. The rest of the deal was to be funded in cash, split between Musk himself and a consortium of hedge funds and sovereign wealth funds who then agreed to help him buy the company and would be co-owners if the deal is successful.

Spokespersons for Bank of America and Barclays declined to comment. A Morgan Stanley spokesperson did not respond to a request for comment. Musk did not immediately respond to a request for comment, nor did a Twitter spokesperson.

Before saying he wanted to exit the deal, Musk had increased the portion he would pay in cash, racking up $33.5 billion of the total.

Now that Musk says he’s ending the deal, the math could change for the banks that agreed to lend to him.

“Musk doesn’t want to own Twitter, the banks don’t want to fund it. We’re in this weird ‘Alice in Wonderland’ situation trying to force this guy to buy a company he doesn’t want to buy,” said University of Chicago Law School professor Todd Henderson. . “Would you fund a guy to own a business he doesn’t want to own?”

Why haven’t the banks already tried to bail out?

The banks are only required to fund the deal if it goes through, and many people don’t believe Twitter will be successful in getting a court to force Musk’s hand. A more likely outcome is that the judge at the Delaware Chancery Court, where the trial will take place, will force a compromise, forcing Musk to pay Twitter a hefty fee for causing him so much trouble, but ultimately letting him go, said said Carl Tobias, a law professor at the University of Richmond.

In this case, the banks will still receive a small commission from Musk for doing the work and they will have nothing left to lend him.

Twitter is suing Elon Musk, setting the stage for an epic legal battle

There’s another reason they might be sticking with Musk for now — they want to stay on his good books, and claiming he’s acting in bad faith could jeopardize that. Musk is still the richest man in the world and will be in dire need of debt financing in the future, regardless of how things turn out on Twitter, Tobias said. “You want to keep his business if you’re a bank because I think it’s quite lucrative,” he said.

If the banks find a way out, does that give Musk a chance?

No, Musk’s deal with Twitter contains a clause that obligates him to enter into the deal even if his debt funding becomes unavailable.

“The fact that he canceled the deal might be some sort of violation in itself, but Twitter is going to say it’s your fault, not ours,” said Anthony Casey, a law expert at the University of Chicago.

In this case, Musk would have to pay the cash portion of the deal to Twitter’s investors, and then Twitter itself (now owned by him) would take on the debt itself to finish paying the former shareholders, according to Henderson.

Musk could also go to court to force the banks to honor their deal and lend him the money. If he didn’t want to, the court could even appoint a special representative to act on his behalf and sue the banks, Henderson said.

In leaked memo, Facebook tells managers underperformers don’t belong

Has this ever happened?

If Musk’s debt settlements become a factor in a potential settlement or lawsuit, it wouldn’t be the first time the funding has become a factor in a legal case over a merger deal. Last year, Delaware Chancery Court Judge Kathaleen McCormick, who experts say will preside over the Twitter case, oversaw a court case involving a private equity firm that tried to withdraw from a deal to buy a cake decorating supply business. DecoPac blaming the economic downturn caused by the pandemic. McCormick said the private equity firm acquiring DecoPac needed to move forward, even though it no longer had the seed funding to complete the deal.

“When they see bad faith behavior, they tend to dislike it,” Badawi, a Berkeley law professor, said of the Delaware court and its judges. “They tend to punish him.”

Why does Twitter want the deal done at this point?

The primary role of Twitter’s board is to serve its shareholders – the banks, pension funds, hedge funds and individuals who own its stock. Currently, shares of Twitter are trading at around $36, much less than the $54 a share Musk agreed to pay those shareholders to buy the company. If Twitter’s board of directors let Musk go, it would leave a significant amount of money on the table and could expose them to legal action.

The entire episode caused significant damage to the company’s reputation and morale, with Musk’s attacks stoking existing concerns about his business. The company’s stock price is likely to fall even further if Musk walks away altogether.

Many Twitter users and employees don’t want the company sold to Musk, whose other companies have faced lawsuits and complaints over the treatment of employees.

One of the founders of Twitter, Ev Williams, said that if he was still on the board, he would “ask if we could just let this whole horrible episode end”.

Merchant Cash Advance Market Set for Development Growth, Industry Outlook, Business Outlook, and Revenue Estimate by 2022-2028 | Key Company Profiles – Fundbox, Kabbage, Square Capital, National Funding

The research report on theMerchant Cash Advance Market” covers the market size, market dynamics and development prospects of the market for the forecast period. This report provides quantitative and qualitative data and business participants in the supply chain process and helps market vendors to increase the productivity and operational efficiency of their business. The report categorizes market growth, market share, latest trends, market players, micro macro economic data, and industry attractiveness by segment.

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One of the essential parts of this report includes Merchant Cash Advance Market key vendor’s discussion of executive summary, company profiles, market revenue, and financial analysis. The research report will help market players to develop future business strategies and learn about the global competition.

The key players covered in this report:

Fundbox, Kabbage, Square Capital, National Funding, CAN Capital, Credible, Stripe Capital, CanCapital, PayPal Working Capital, American Express Merchant Financing, Fora Financial, Lendio

Report Scope:

The Merchant Cash Advance market report defines several important characteristics of the market. It will provide the beginnings of this report, describe the needs of this business and the expected results of the research efforts, identify the constraints in the development of a specific solution, the business processes impacted by the project and identify the internal and external entities. The Global Merchant Cash Advance Market report covers the manufacturers, outlines CAGR status and analyzes its value, potential growth, market competition landscapes, Porter’s Five Forces Analysis, SWOT and many development plans over the next few years. The detailed analysis of the market position is constantly growing with precise innovation and development activities in the industry.

Segmentation by types of products/services:

$5,000-250,000, $250,000-500,000, >$500,000

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Time spent in business 18 months

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State some of the factors which directly affect the market including production strategies, business methods, development platforms and product models. It will also detail the revenues recorded by these given regions. Moreover, the Merchant Cash Advance market report includes specific information on various country-level development plans, potential market restraints, and other restraints to revenue growth. Geographically, the regions covered in the report:

➸ North America (USA, Canada)
➸ Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
➸Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
➸ Latin America (Brazil, Mexico, Others)
➸ The Middle East and Africa

Opportunities for growth:

The global merchant cash advance industry is studied for potential growth in a variety of applications and regions. The research assesses the rate of development and value of the industry due to industry demographics and growth driving factors. It covers developing market conditions, preferred market channels, domain drivers and restraints, to name a few. The analysis took into account prices, revenues, revenue growth, production costs and other parameters.

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Mobile restaurants pay fees beyond the pandemic

One of the next frontiers of restaurant evolution is adopting modern payment technology to avoid customers having to wait unnecessarily for waiters or the bill, reduce staff levels and minimize credit card fees generated by multiple transactions during a single visit.

Mobile payment and online ordering platform CardFree is shifting its focus from the pandemic-induced fires to help restaurants adapt their business models to this new era. Besides labor and processing fees, its middleware payment technology also helps operators capture valuable customer data, even if they are not enrolled in a brand’s loyalty program.

Alan Paul, Chief Revenue Officer of CardFree

California-based CardFree, founded in 2012, recently began entering the hotel space after signing up a few customers in the category to improve digital menus and ordering or swiping a card once, rather than multiple times while throughout a guest’s stay.

Chief Revenue Officer Alan Paul says hospitality and restaurants still have a lot to learn from the retail world, but believes major progress has been made, including integrating Google Pay and Apple Pay. He predicted that Venmo and PayPal will soon make payments even easier for consumers, while reducing chargebacks for disputed transactions for restaurants, which he says is a growing problem in the industry.

For establishments looking to downsize, next-gen payment technology can allow restaurants to reduce the manpower required for curbside pickup or even eliminate the need for servers in certain locations, instead letting customers order and pay themselves and using employees as dedicated couriers.

“At the start of the pandemic, it was mobile payment at the table, but SMS payment for phone orders has really been much more of a driver both from a merchant and consumer adoption perspective” in recent months, Paul added. “Every time a customer places their own order or pays on their own mobile device, it just frees up time for the servers to do something else, or in the case where there are no servers, you can model a bit and turn people into runners and let guests completely drive the ordering experience.

While processing fees are a priority in this inflationary environment, Paul pointed out that an even bigger concern is improving the customer experience when many restaurants are slipping with less than ideal staff levels.

“If I’m a consumer who waits 15 minutes for their check, and that’s the last thing I do, it’s going to leave a really bad taste in my mouth, so installing technology doesn’t have to replace the work,” he said. “It just complements the experience to make sure the guest has a good experience, and isn’t just sitting there waiting for someone to come serve them or hand them the bill.”

Omnichannel tokens save on exchange

By using an omnichannel token for customer payments across different channels, restaurants can get basic data about customers who might use their Visa card inside the restaurant and then use the same card for an order while in the restaurant. line.

“It allows us to see a customer’s behavior across all channels,” Paul said. “Now all of a sudden I can say, hey, maybe I don’t know who this person is, but from a BI and analytics perspective, I can see this individual going to the store six times a year and order online 12 times a year or whatever.

This data, which can sometimes include email and phone numbers, can allow brands to send opt-in offers that customers could skip even if they are not part of a restaurant’s loyalty program. .

Both reducing customer friction and collecting data are valuable, but Paul pointed out that reducing chargeback rates is especially important for some brands that have seen an increase in disputed charges in recent years.

He said the key to avoiding such chargebacks — when consumers dispute charges with their credit card provider — is technology that allows employees to avoid manually entering credit card information, whether using one token for multiple transactions in a single visit or using pre-verified payment methods like Apple or Google.

Thinking back to those early days of the pandemic when customers adapted to scanning QR codes for the menu and, in some cases, using their phones to separately pay for each additional drink, Paul said those clunky setups are bad for people. diners, but also costly for merchants due to multiple processing fees for each card swipe.

Middleware payment processors allow restaurants and merchants to keep tabs so that only one payment is transmitted to credit card companies. This can be particularly impactful in fast-casual settings where it may be more common for customers to order items in stages, compared to more tactile dining formats.

“If a customer can sit down and open a tab, basically, and order as much as they want and only pay at the end, that’s a better customer experience,” Paul added. “It takes the friction out of having to pay every time, but it’s also better for the restaurant from an exchange standpoint.”

While there are certainly financial incentives to reduce servers on the floor, Paul said he doesn’t expect the middle ground between QSR restaurants and fast casual restaurants on one side, and casual and fine dining restaurants on the other, will be gone anytime soon. .

Instead, he expects some restaurants to experiment with having an area of ​​the dining room dedicated to table service, while another would be more of a fast-paced, casual model where customers guide each other through. of the checkout process for a faster experience from start to finish.

“We only have one [client] it said we were going to completely switch from this casual table service to fast casual service, and it’s not an easy decision to make,” Paul said. “If a customer wants a more casual experience in your restaurant, I think you can do that with technology and you don’t necessarily have to change a lot of other things, and you can also keep your table service if you wish it. “

Forgot your bank card? Here are 4 ways to withdraw cash in Singapore

It can be frustrating when you need to withdraw cash only to find your ATM card was left at home. Instead of borrowing money from your friends or colleagues, here are some ways to get cash without an ATM card.

Also read: What to do if your credit, debit or ATM card is lost in Singapore?

#1 SoCash

soCash is a mobile app service that allows you to withdraw cash from over thousands of participating stores in Singapore, including merchants such as Sheng Siong, 7-Eleven, Buzz, Killiney and UStars Supermarket.

To withdraw money without a credit card, simply select the amount of money you want to withdraw on the soCash app, which will list the nearest ATMs based on your current location. You can then go to that merchant to scan the QR code, make the payment, and collect your money.

The minimum withdrawal amount is currently $10 and you can withdraw in multiples of $10 up to a daily limit of $600. The good news is that this amount would not be part of your ATM’s daily withdrawal limit, which means you can withdraw money from soCash even after reaching your ATM’s daily withdrawal limit.

DBS and POSB customers can make payments using DBS PayLah! app or via direct debit from their DBS/POSB account. For the latter, you must connect to your mobile bank and enter the one-time PIN code (OTP) sent to your mobile phone.

Standard Chartered Bank customers can access soCash functionality from the SC mobile app. Look for ‘Get Cash’ in the menu and select soCash. Any cash withdrawal must be authenticated with a fingerprint or login credentials and the amount will be debited directly from their bank account.

For users of other bank accounts, you can make the payment via the DBS PayLah! app by registering as a non-DBS/POSB user, then top up your PayLah! wallet by FAST transfer from your bank account. Payments for soCash will be deducted from this PayLah! wallet.

soCash has a loyalty program called soCash Rewards, which incentivizes users to use soCash and refer their friends. For example, you could earn $3 in referral rewards for each friend you invite to the soCash platform, and at the same time, your friend would also receive $1 for signing up.

Earned rewards will be automatically deducted from your payout on the next transaction. For example, if you have $5 in rewards and cash out $50, then only $45 will be deducted from your bank account. Also note that you must withdraw an amount greater than the rewards earned, which will only be valid for 30 days and will expire if not redeemed by then.

Read also: Why I stopped withdrawing money from ATMs

#2 UOB Contactless Cash Pickup

UOB customers using smartphones with Near Field Communication (NFC) capability will be able to withdraw cash at select UOB ATMs.

Before using this cash withdrawal method, you must link your UOB Visa or MasterCard credit/debit card to your checking or savings account. The card should then be added to your Apple Pay or UOB Mighty Pay. Android users also have the option of adding their UOB bank card to Mighty Pay for contactless withdrawals.

To withdraw cash from the ATM, hover your device over the ATM contactless symbol and select the card with ATM access. Once done, enter your ATM PIN and make your withdrawal.

For convenience, you can enter your preferred cash withdrawal settings on your card on UOB Mighty. This allows you to collect the preset cash amount once you enter the ATM PIN code without going through the usual transaction screens.

Also Read: Here’s Why the UOB One Account Could Be the Perfect Savings Account for Those in the Gig Economy

#3 OCBC Pay Anyone (added)

OCBC Personal Banking customers can use the OCBC Pay Anywhere app to make card-free cash withdrawals at any OCBC ATM in Singapore. This service is not available at UOB ATMs within the shared ATM network or at OCBC ATMs abroad.

The payment app can also be used for remittances both locally and abroad and can pay for your meals, shopping and taxi rides by simply scanning the merchant’s QR code or making a PayNow transfer via the merchant’s Unique Entity Number (UEN).

To withdraw money without a credit card, simply follow these 5 steps:

Step 1: At the ATM, you will need to tap on the “Withdraw cash using OCBC Pay Anywhere” button in the lower left corner of the ATM screen.
Step 2: You will then see a QR code generated and displayed on the ATM screen.
Step 3: Log into your OCBC Pay Anywhere app to scan the QR code.
Step 4: Select the amount you wish to withdraw and confirm
Step 5: Collect your money at the ATM

There are no service charges for using the cardless cash withdrawal service, although you are limited to a daily withdrawal limit of $1,000 which cannot be changed.

Also Read: OCBC 360 Account – Here’s How You Can Maximize the Interest You Earn on This Savings Account

#4 Cash withdrawal using a linked credit card

For most banks, your credit card can act as an ATM card. This can be done by linking your card to your checking or savings account. Just like a regular bank card, cash withdrawals will be debited directly from your account.

This should not be confused with a credit card cash advance, in which you take out a short-term loan from the bank based on your available credit limit. For cash advances, interest rates are compounded daily and rates are generally higher than typical credit card interest rates. Additionally, cash advance fees may also apply.

Read also : 11 things working adults in Singapore should know before applying for their first credit card

This article was first published on February 4, 2019 and has been updated to reflect new information.

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Vigilance told to register case against three people – The New Indian Express

By Express press service

THIRUVANANTHAPURAM: The Inquiry Commissioner and Special Judge, Thiruvananthapuram, has ordered the Director of Vigilance to register the FIR against a staff member of the Forestry Department, former Managing Director of SIDCO and a businessman and investigate the allegation that they embezzled `35 lakh which was sanctioned for buying boats for Shendurney ecotourism project.

The complaint filed by Yuva Morcha chief RS Rajeev alleged that former Shendurney WildLife manager R Lekshmi, former SIDCO managing director Saji Basheer and Nautical Lines owner Krishnakumar misappropriated public funds by not delivering a boat for which payment had been made and by breaching the terms of payment upon purchase. of two other boats, which were not up to par in terms of fitness. Judge Gopakumar G found that the purchase amounts had been sanctioned in advance and that a 15-seater boat for which payment had already been made to SIDCO by the Forest Department had not yet been delivered.

Surprisingly, the ranger issued a certificate of acceptance for the 15-seater boat without taking delivery. SIDCO had sublet the work to a company, Nautical Lines, which ceased operation from 2017, the judge said. The judge, in his order, said the offenses should be investigated under the Prevention of Corruption Act.

ABA seeks changes to ARC modernization proposal in statement for record

Ahead of a House Financial Services Subcommittee hearing on the joint agency proposal to update the Community Reinvestment Act, the American Bankers Association warned lawmakers that certain aspects of the proposal are unlikely to achieve the goals of regulatory modernization, and that “if not calibrated appropriately, the final rule could achieve results contrary to the intent of the agencies, particularly with respect to expanding access to credit for residential mortgages, small business loans and community development finance.

The ABA called on the agencies to rethink an aspect of the proposal that would require large banks (which the proposal defines as those with more than $2 billion in assets) to delineate the creation of individuals” where the bank has concentrations of home mortgages or small business loans where it has no physical presence. Among other things, the ABA noted that the lending volumes that would trigger an RLAA are “not large enough” and could inadvertently cause banks to “reduce retail lending in locations that are incidental to the company’s business strategy. bank and where the bank does not actively market its loan products.

The association further recommended that regulators rethink the proposed benchmarks and rating methodology; allow for an adequate transition period once the rule is finalized; and allow more time for industry to provide comments on the proposal. The ABA also pointed out that credit unions and other non-bank financial companies should be subject to similar requirements as the CRA.

How could your data be used to bill you?

This week is great news in tech: Uber misbehaved. A huge dump of documents reveals that she knowingly broke the laws to roll out her services as widely and quickly as possible. Of course, the company can blame its disgraced former CEO. “We ask the public to judge us on what we have done over the past five years,” reads his devout statement. Where are you ? Should Uber have paid a higher price for its shares? Or was moving fast and breaking things the only way to disrupt the taxi industry? Intervene in the comments. In the meantime, here’s this month’s update.

Monitoring in a Post-deer America

We have mapped the implications of the reversal of Roe vs. Wade, which is expected to lead about half of US states to ban or severely restrict abortion. One thing that stands out is that law enforcement technology is much more advanced than it was in 1973 when deer has been decided. Back then, the easiest way for police to catch illegal abortions was to raid a clinic, perhaps by acting on a hose. If a woman was not caught red-handed, it was very difficult to prove that she had an abortion. The doctors who practiced them were the main targets.

Today, there is a huge surveillance infrastructure made possible, in large part, by the data clouds we all create every day. Prosecutors can subpoena location data (particularly in the form of geofence warrants, which request data on anyone at a particular location at a particular time), search queries, and postings about social media, as well as data from fertility and health tracking apps. . A proposed EU regulation to make it easier to capture child pornography could have the side effect of giving US prosecutors more power to scan phones for abortion-related messages. Not all data needs a warrant, either: Automated license plate readers could be used to provide evidence that someone left the state to have an abortion or drove someone off. another, for which he could be prosecuted for aiding and abetting a crime.

This means that online platforms will also try to avoid prosecution for inadvertently helping people to have abortions. Meta, at least, has already been removing some abortion-related content for years. Changes to the law will likely make businesses much more cautious. A glimpse of how this might work is what has happened to sex workers since the passing of FOSTA-SESTA, a 2018 law that allows platforms to be sued for hosting content that promotes or facilitates prostitution. . This has forced social media platforms, payment processors and allegedly even food delivery apps to suspend or ban sex workers. Tailoring this response state by state will be difficult, so it could affect people even in states where abortion is legal.

None of these enforcement methods are new; they have been used to catch criminals for years. It’s just that now people in half the country could be turned into potential criminals. It should also make you think: how could your data be used in unexpected ways to pin charges against you or someone else?

China in the driving seat

The world is scrambling to switch to electric vehicles, and as our special series reports, China is leading the way. Nearly 15% of new vehicles sold there in 2021 were electric, compared to 10% in the EU and 4% in the US. It already has some of the biggest electric vehicle makers, and manufacturers like Foxconn (which makes most iPhones) are turning their attention to cars. Chinese companies make more than 50% of the world’s lithium-ion batteries and have cornered much of the world’s lithium supply, and the country controls at least two-thirds of the world’s lithium processing capacity. It’s about solving the thorny problem of creating a massive public charging network compatible with many different car brands, the lack of which is one of the main reasons adoption has been slow in the states. -United.

All of this means that your first (or next) EV is more and more likely to be Chinese. “So what?” you can say. Isn’t everything you own made in China? Well, yes, but consider the national security implications of having hundreds of thousands of what are essentially mobile detection devices – very quick and heavy devices which, at least in theory, can be remote control– roaming the streets, transmitting untold amounts of data to their makers, who are under the thumb of an increasingly authoritarian superpower government. The West freaked out when it decided that Huawei-made networking gear could eventually be used for spying, and that gear didn’t even wheels.

University of Detroit Mercy plans police strategy

The University of Detroit Mercy is working to create a private police force as part of a larger plan to provide public safety around the Livernois-McNichols corridor.

Why is this important: Organizational leaders attempt to reduce high crime rates, while centering residents’ perspectives on what keeps them safe.

The last: Detroit Mercy hopes it nears the end of a years-long process this fall to get its certified private college security guards as sworn officers, Antoine Garibaldi, who just retired as school president, tells Axios. More steps are needed before it is final.

  • About 30 Detroit Mercy security personnel who were previously police officers could be certified. They would have the power to make arrests in designated areas outside of its campuses, including Detroit’s main northwest.
  • State legislation past in 2016 allows this for private colleges.

What they say : Some reactions to an additional police presence are mixed, I’Sha Schultz-Spradlin, president of the nearby College Core Block Club, told Axios.

  • “We don’t really know how to minimize (violent crime) without police presence, but police presence also means an additional form of violence” in the form of potential police brutality.

Between the lines: Detroit Mercy’s lead attorney, Monica Barbour, said officers will focus on campuses.

  • Geneva Williams, director of neighboring nonprofit Live6 Alliance, said Detroit Mercy officers would not act “in isolation, and it was never meant to be that way.”

State of play: Live6 Alliance has been thinking about public safety strategies for years with businesses and residents in surrounding neighborhoods. It’s an evolutionary process with “many ingredients,” Williams tells Axios.

  • He explored various options ranging from police involvement, as with Detroit Mercy, to alternative deterrence methods like clearing vacant lots, connecting residents resources and support the development along the trade corridor.
The office and community center of the nonprofit Live6 Alliance, HomeBase, and a business incubator under construction along McNichols Road. Photo: Annalize Frank/Axios

The context: The public safety umbrella includes improving economic opportunities for residents. In that vein, community-funding organization Invest Detroit is renovating a building next to Live6’s office that the nonprofit will run as a small business incubator. The city has also invested $7 million in street improvements.

And after: Live6 Alliance plans to host in-person community conversations after holding virtual forums this spring.

Sri Lanka faces hyperinflation as inflation rises | Print edition

By Bandula Sirimanna

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Sri Lanka now faces a hyperinflationary situation, with the country’s inflation hitting a new high of 54.6% in June, several leading economists have said, referring to the Central Bank’s latest announcement of official data. on economic indicators.

The Sri Lankan rupee has depreciated by more than 50% against the dollar this year, forcing the Monetary Authority to stabilize its inflation-ravaged rupee and it opts to withdraw some low-value banknotes from circulation .

The Business Times, in its article on the economic catastrophe published on March 27, predicted that soaring inflation would lead to hyperinflation in the country, putting pressure on people already struggling with shortages and suffering in chaos. economic. This critical situation has now emerged as the prices of goods and services are rising out of control almost on a daily basis, Colombo University economics professor Sirimal Abeyratne told the Business Times.

He added that in general, the term hyperinflation is used when the inflation rate increases by more than 50% per month. Typically, hyperinflation is triggered by very rapid growth in the money supply.

This could be due to the government printing money to pay for its expenses or something called demand-pull inflation. The latter occurs when increased demand exceeds supply, driving up prices due to a shortage of goods and services, he explained.

The Central Bank was managing the situation when it resorted to inflation targeting and money supply control during the period 2018-2019 on the instructions of the International Monetary Fund.

But inflation targeting went haywire following the Monetary Authority’s tilt towards Modern Monetary Theory in 2020, where the Central Bank printed historic volumes of money putting severe pressure on the rupee, triggering the worst import and exchange controls since the 1970s. He pointed out that when more money is put into circulation, the real value of the country’s currency can fall.

Therefore, when measured in terms of its impact on people’s lives, hyperinflation can be devastating, with the prices of essential goods rising daily.

The Monetary Authority should focus on core issues in a comprehensive plan to tackle the causes of the hyperinflationary situation to combat runaway inflation, which has significantly weakened the local currency, he suggested.

The country will have to correct inconsistent and misguided economic policies while controlling money printing only to match the value of overall monetary transactions in the economy, he stressed.

A shortage of essential products in the market and ever-increasing prices must be tackled while tackling supply chain disruptions; he said, adding that the depreciation of the rupee and domestic policy issues will have to be settled in a short period of time.

In this framework, the value of the Sri Lankan rupee acceptance may soon be diminished and this has been clearly indicated with the decline in the value of the rupees. 5000 note because people can’t even buy a cup of tea with Rs. 20 or even Rs 50, said Aminda Methesila Perera, senior professor in the faculty of business studies at North Western University.

Rs. 10, 20, 50 notes will soon be out of circulation, forcing the Central Bank to print new high-denomination notes following the ever-increasing amount of rupees to be paid for the dollar, he claimed.

It was the first time the increase in the Colombo Consumer Price Index (CCPI) crossed the psychologically important 50% mark, according to the Census and Statistics Department.

As a result, the prices of essential items are skyrocketing every day with the price of petrol rising to Rs.470 per liter from Rs.420 and short distance bus fares rising to Rs 40 from of Rs 12.

People’s purchasing power has gone down considerably as they now buy five kg of samba rice at the price they bought a year ago for 10 kg of the same variety of rice.

“In such a situation, a large sum of money is needed to purchase goods and services and meet other payment obligations,” he said.

Sri Lanka will be forced to stop printing money and introduce a new currency or peg to a long-term basket of currencies, he said, adding that this was in the works.

Sri Lankan authorities and the Reserve Bank of India are considering setting up a dedicated payment mechanism with Sri Lanka to allow Indian exporters to collect payments in Sri Lankan rupees as the country grapples with the worst crisis. economy, said a senior finance ministry official. Under the scheme, Sri Lankan importers will be allowed to pay for the goods to Indian banks in Sri Lanka, and the banks, in turn, will make payment in Indian rupees to the exporters, he disclosed.

This will allow Sri Lanka to import goods from India as the country’s foreign exchange reserve dwindles making it impossible to import essentials including food and fuel.

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Merchant Cash Advance Market Next Big Thing: Major Giants Rapid Finance, National Funding, Lendio, Fundbox, CAN Capital

The market research is broken down and major geographies with country-level breakdown. According to AMA, the global merchant cash advance market is expected to grow at a growth rate of 6.46% and could reach a market size of USD 1,142.63 million by 2026.

This press release was originally distributed by SBWire

New Jersey, USA – (SBWIRE) – 09/07/2022 – The Global Merchant Cash Advance Market In-Depth Research Report 2021, Forecast to 2026 is the latest study released by AMA assessing the market , highlighting opportunities, risk side analysis and leverage with strategic and tactical decision support. The influencing factors of growth and regulations regarding the use of information, the availability of highly reliable products in the market and the increase in operational efficiency of global merchant cash advance players. The study provides insights into market trends and development, drivers, abilities, technologies, and changing dynamics in the global merchant cash advance market. According to the study, the key and emerging players in this market are Lendio (USA), Fundbox (USA), CAN Capital Inc. (Costa Rica), National Business Capital (USA), Kabbage (USA), United States), Rapid Finance (United States). USA), National Funding (USA), Kalamata Capital Group (USA), Libertas Funding (USA), Perfect Alliance Capital (USA), OnDeck (USA).

Get Free Exclusive Sample PDF Copy of This Research @ https://www.advancemarketanalytics.com/sample-report/176834-global-merchant-cash-advance-market

Merchant Cash Advance Report Scope
Unlike traditional loans, merchant cash advance is a business financing process that provides cash funds to an organization for expansion, business growth, seasonal cost coverage, etc. The option can be useful for businesses that do not have a sufficient balance to apply for the loan. and are in urgent need of cash. It is structured as a lump sum payment to a company in exchange for an agreed percentage of future sales. When applying for a cash advance, merchants do not need to do lengthy paperwork like bank business loans and also get quick approval and funding. By type of method, fractional financing segment will dominate over the forecast period, and by vertical, retail and e-commerce sector will take the largest market share by 2026.

The titled segments and sub-sections of the market are illuminated below:
by sector (IT and telecommunications, healthcare, manufacturing, retail and e-commerce, travel and hospitality, energy and utilities, other), method (split financing, escrow account, direct debit)

Market factors:
Increased preference for merchant cash advances as they provide quick access to capital
Growing demand due to various benefits
No fixed payment term as reimbursement is based on company sales history

Market trends:
Growing trend for less documentation during application and closing costs
Increasing digitization across the world
Technological Advances Associated with Merchant Cash Advance

Easy financing option for SMEs that don’t have a limited balance for traditional loans
The rapid growth of the e-commerce industry
Growing demand from developing countries such as India

Regions included are: North America, Europe, Asia-Pacific, Oceania, South America, Middle East and Africa

Country level breakdown: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), Netherlands, Spain, Italy, Belgium , Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand, etc.

If you have any queries regarding the Global Merchant Cash Advance Market Report, ask our [email protected] https://www.advancemarketanalytics.com/enquiry-before-buy/176834-global-merchant-cash-advance-market

Market leaders and their expansionist development strategies
In July 2021, Libertas Funding announces a strategic partnership with WebBank, the best-in-class digital lender. Libertas Funding, LLC, a leading technology-driven specialty finance and asset management company, has added a term loan product powered by popular digital lender WebBank, a state-chartered bank insured by the FDIC. The new product allows small and medium-sized businesses to access capital quickly, through a simple online application process.
In February 2021, Fundbox was targeting $300 million raised at a $1.5 billion valuation via Wall Street SPAC. If the deal is signed, Fundbox will be the latest in a series of Israeli companies expected to enter US stock exchanges through an inactive company. A partial list includes Pioneer, Ree, Taboola, Innoviz and Otonomo

Strategic Points Covered in Table of Content of Global Merchant Cash Advance Market:
Chapter 1: Introduction, Market Driving Product Objective of Study and Research Scope of Merchant Cash Advance Market
Chapter 2: Exclusive Summary – the basic information of the merchant cash advance market.
Chapter 3: Displaying Market Dynamics – Drivers, Trends and Merchant Cash Advance Challenges and Opportunities
Chapter 4: Introducing Merchant Cash Advance Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL Analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Product Display by Type, End User and Region/Country 2015-2020
Chapter 6: Evaluating the leading manufacturers of the Merchant Cash Advance Market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To assess the market by segments, by countries and by manufacturers/company with revenue share and sales by key countries in these various regions (2021-2027)
Chapter 8 & 9: Viewing the appendix, methodology and data source

Finally, Merchant Cash Advance Market is a valuable source of advice for individuals and businesses.

Read Detailed Index of Full Research Study at @ https://www.advancemarketanalytics.com/reports/176834-global-merchant-cash-advance-market

Thank you for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

For more information on this press release, visit: http://www.sbwire.com/press-releases/merchant-cash-advance-market-next-big-thing-major-giants-rapid-finance-national -funding-lendio-fundbox-can-capital-1360345.htm


The Match Group companies seek injunctive relief and other appropriate remedies for the material and irreparable harm that Google’s manipulation, broken promises and abuse of power caused

DALLAS, May 9, 2022 /PRNewswire/ — The Match Group, Inc. (NASDAQ: MTCH) companies, including those that operate the dating apps Tinder®, Match®, OkCupid® and several others (collectively, “Match Group”), sued today Google for its strategic market manipulation, broken promises and abuse of power by requiring Match Group to use Google’s billing system to remain in the Google Play Store. Google’s requirement will eliminate user choice on Match Group apps and increase costs to consumers by allowing Google to charge Match Group an arbitrary and discriminatory tax of 15% on all subscriptions and up to 30% on all other in-app purchases, representing hundreds of millions of dollars in inflated “fees”, while monetizing the personal data of billions of digital app users. Google has monopolized the Google Play Store and is now abusing its power.

Read the lawsuit HERE
Learn more about the Match Group case: endthegoogletax.com

“Ten years ago, Match Group was Google’s partner. We are now its hostage,” the lawsuit alleges. Google lured app developers like Match Group to its platform with the assurance that they could offer users the choice to pay for the goods and services they want. But once it monopolized the Android app distribution market with Google Play by overlapping the most popular app developers, Google sought to ban alternative in-app payment processing platforms in order to be able to reduce almost all in-app transactions on Android. , despite users choosing Tinder billing options over Google Play Billing most of the time. Google Play Billing prevents Match Group from providing its users with the best possible experience. And Google Play Billing is inferior, lacking the capabilities Match Group’s payment systems currently offer. (Read more about this HERE).

“Earlier this year, when Google touted the benefits of ‘user choice’, I hoped they would pave the way for a fairer Google Play Store. Unfortunately, their demand that we now remove user choice the user of our apps, something we’ve been offering for years and mandating their billing system which doesn’t have many of the features that our users are used to and depend on, can only mean that they don’t don’t really care if users are being harmed in their efforts to extract their unfair share of fees from developers like us, while regulators in the US are investigating this issue and regulators overseas are calling it illegal “, said Shar Dubey, CEO of Match Group, Inc. “They control the distribution of apps on Android devices and claim that developers could successfully reach consumers on Android elsewhere. That’s like saying ‘you don’t need to take the elevator to get to the 60th floor of a building, you can always scale the outside wall. It’s not legitimate. This trial is a measure of last resort. We have tried, in good faith, to resolve these issues with Google, but their insistence and threats to remove our branded apps from the Google Play Store by June 1 left us no choice but to take legal action.”

The lawsuit, filed in the U.S. District Court for the Northern District of Californiaalleges that Google violated Sections 1 and 2 of the Sherman Act, the California Cartwright Act, the California Unfair Competition Act, and California tort liability through its illegal mandate requiring certain app developers to exclusively use Google Play Billing to process payments.

The Google Play Store is essentially the only viable mobile app distribution channel on smart devices running the Android operating system. Over 90% of all Android app downloads happen through the Google Play Store. Google seeks to exert this dominance over app developers and users to force them to exclusively use Google Play Billing, which levies a tax of up to 30% on each transaction. Google describes this fee as a “fee”, although it is almost 10 times higher than fees charged by payment processors in competitive markets.

Google, in trying to attract the best apps to Google Play, had previously assured Match Group that if it enabled in-app purchases in its dating apps on Android, Match Group could use its own payment systems. Google then issued a bait and switch by announcing that it would begin requiring all apps that sell “digital goods and services” – a term it applies arbitrarily – to exclusively use Google Play Billing despite its previous assurances to the contrary. to Match Group and other developers. If Match Group does not comply with the new policy in June 1, Google has threatened to remove Match Group apps from the Google Play Store. In fact, Google has already started rejecting updates to the Match Group app that didn’t remove long-existing alternative payment systems.

By insisting on the exclusive use of Google Play Billing, Google seeks to insert itself as an intermediary between users and developers, preventing Match Group from serving its customers directly on many important issues. If Google is allowed to enforce this warrant, Match Group would suffer irreparable damage to its customer relationships, reputation, business performance, and customer base, and its users would be harmed by price increases and the monetization of their data by Google.

Google has also been sued by a coalition of 37 state attorneys general seeking to prevent the same illegal behavior, and investigations have been conducted by the US House and Senate, the European Commission and government entities in India, France, Germany, JapanGreat Britain, Australiaand South Africa, with some litigation resulting in billions of dollars in fines. (Read more about this HERE).

About Match Group
Match Group, Inc. (NASDAQ: MTCH), through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global brand portfolio includes Tinder®, Match®, Hinge®, Meetic®, OkCupid®, Pairs™, PlentyOfFish®, OurTime®, Azar®, Hakuna Live™, and more, each designed to increase the connection likelihood of our users with others. Through our trusted brands, we provide tailored services to meet the different preferences of our users. Our services are available in over 40 languages ​​for our users around the world.

favicon.png?sn=AQ51390&sd=2022-05-09 View original content to download multimedia: https://www.prnewswire.com/news-releases/match-group-files-lawsuit-against-google-over-unlawful-billing-mandates-301542985.html

SOURCE Match Group

Launched War Pigs Token as First Crypto Partnership with Corporate America via Decentralized App

NEW YORK, NY, USA, July 8, 2022 /EINPresswire.com/ — New York — Today, War Pigs Token ($WPT) launched on the Ethereum blockchain as the first cryptocurrency to partner to the corporate world and blockchain through a decentralized application, starting with major Merchant Cash Advance (MCA) lenders. By syndicating their Treasury Tax funds to MCAs, WPT will bring 10% to 20% of the return on investment into their ecosystem. Each time this happens, there will be large redemptions and USDC rewards and their token stakers will receive consistent and considerable passive income.

War Pigs CEO Jonathan Menjivar said, “Our ecosystem and the utility we provide is one of a kind and sets us apart from any other token on the market today. We are excited to finally bring blockchain and crypto to Corporate America and conquer it as we continue to secure more and more partnerships in the MCA lending space.

MCAs are an alternative type of financing for small businesses. Generally speaking, MCA companies provide funds to companies in exchange for a percentage of the companies’ revenues. Typically, an MCA company will make daily withdrawals from the company’s bank account until the obligation is fulfilled. The MCA market is a multi-billion dollar market that is expected to experience dramatic growth estimated at nearly $1.14 trillion by 2028. MCA loans are especially needed in challenging economies like the one we live in today. Moreover, as this industry matures and the world of technology advances rapidly, more and more technology companies are using MCAs.

WPT is a fully incorporated entity in New York State with a fully doxxed team. Their CEO, Jonathan, has been a registered business consultant in New York for 16 years and their COO Nahla Kamaluddin is a licensed attorney. WPT is in the process of applying for a money transfer license, and its ecosystem has both an anti-whale mechanism and an anti-bot system.

WPT is also launching a 2D NFT collection and a 3D NFT collection. Their ecosystem will allow NFT holders to stake and earn what will be called “Bacon” Tokens. These in return can be used to claim high percentage USDC rewards.

Corporate Treasury tax funds will be used to syndicate into major Prime MCA lenders. Although WPT is not a lending platform, funds syndicated to MCA lenders will generate significant profits through project ROI, which can typically range between 10-20%.

Official website: https://www.warpigs.io/

Official Twitter: @WarPigsToken

Official telegram: https://t.me/warpigstoken


About the War Pigs Token
Cryptocurrency is changing the world and the lives of many people who invest in it every day; however, American companies and businesses in the United States have yet to fully use it to their advantage. War Pigs Token directly addresses this problem, as we bridge the gap between Corporate America Merchant Cash Advance (“MCA”) private funding and blockchain.

Blair Fitzgibbon
RP wake
+1 2025036141
[email protected]

Add rent to rising costs that plague small businesses

Martin Garcia, owner of gift and home decor store Gramercy Gift Gallery, poses for a photo at his San Antonio boutique. Landlords forgave rent in the first two years of the pandemic, but now many are asking for rent arrears. Meanwhile, most government assistance programs that helped small businesses through the pandemic have come to an end. (AP Photo/Eric Gay)

NEW YORK — Rent has come due for American small businesses and at a very inopportune time.

Landlords were lenient with rent payments during the first two years of the pandemic. Now many are asking for rent arrears, and some are also increasing the current rent. Meanwhile, most government relief programs that have helped small businesses through the pandemic have ended as inflation has driven up the cost of supplies, shipping and labor. work.

Martin Garcia, owner of the Gramercy Gift Gallery gift and home decor store in San Antonio, Texas, survived the first part of the pandemic in part by paying his landlord whatever rent he could each month. Then in August 2021, after the federal eviction moratorium ended, her landlord demanded the full amount of back rent he owed.

“I needed $10,000 in 15 days,” Garcia said. He took out every loan he could find – often at high interest rates – and barely made it to the deadline.

A good holiday season has helped him pay off his loans, but so far this year sales have plummeted and he’s used credit card financing to pay his June rent. Garcia believes some of his customers are cutting back on non-essentials to afford the higher prices for gasoline and other essentials.

Thirty-three percent of all U.S. small businesses were unable to pay their May rent in full and on time, down from 28 percent in April, according to a survey by Alignable, a referral network for small businesses. And 52% said the rent had gone up in the past six months.

“Many small businesses are still recovering frankly from the last phase of COVID,” said Chuck Casto, corporate communications manager at Alignable. “Plus, they’re facing a year of rising inflation on top of that. It’s hard for small businesses to really get by. »

Ris Lacoste owns a namesake restaurant, Ris, in Washington, DC, and keeps herself afloat thanks to the help she received from the Restaurant Relief Fund to pay her rent. But the money must be spent by March 2023.

“What I have to do to stay alive after this, every penny I can save has to go into reserve,” Lacoste said. To cut corners, she is renovating tables to cut linen costs, not printing color copies of menus, and working with 22 employees instead of the 50 she had previously.

Before the pandemic, the 7,000-square-foot restaurant was often full, but it’s not “back to full occupancy at all,” Ris said. At the same time, inflation worsens the cost of doing business.

“The payroll is going up, the workforce is going up, the cost of goods is going up, the utilities are going up,” Lacoste said. “I wear 20 hats instead of 10 and I work six days a week, 12 hours a day.”

But the rent is not something she can control, and that adds to the stress.

“You work for the owner, how long do you want to do this, how long will you survive?” ” she says. “It’s not sustainable.”

Data from commercial real estate finance and advisory firm Marcus & Millichap shows rents rose 4.6% in the first quarter of 2022 from the year-ago quarter as the vacancy rate fell to 6, 5%, the lowest since before 2015. But Daniel Taub, national retail sales manager at Marcus & Millichap, said inflation will make it harder for landlords to impose rent increases as the consumer begins to feel rushed.

“Consumers can only spend so much when the dollar doesn’t go that far, and retailers can’t pay so much to carry space and have enough inventory to pay employees,” he said. “It’s a tough retail market and something is going to have to give.”

Charleen Ferguson owns the building that houses the tech company she owns with her husband, Just Call the IT Guy, in Wylie, Texas. She also has 13 tenants, so she sees the dilemma from both a small business and landlord perspective.

During the pandemic, Ferguson has agreed with his tenants, who range from a massage therapist to a church, to impose a moratorium on rents. Once things started to reopen, she worked with tenants on the backlog of rent. They all caught up in three months – except the church, whose debts she forgives.

But she had to raise the rent by around 5% from May to meet her own building maintenance costs. Prices rose for utilities and cleaning supplies, as well as property taxes. So far, it has not lost any tenants.

“I made just enough to cover the raises, I didn’t make more,” she said. “We don’t make a lot of money, but we keep people in business.”

For some small businesses, higher rent just isn’t an option. The solution: go remote.

Alec Pow, CEO of ThePricer.org, a credit management consulting firm with eight employees in New York, said its landlord plans to raise rent by 30% when the contract is renewed. Pow expected a smaller increase. The landlord said he had a potential tenant who would accept the lease for the full asking price.

So Pow decided to lose the office and let its New York employees work remotely for two months while they looked for cheaper space. The company also has an office in San Francisco and two in Europe.

“We were in the process of increasing the salaries of our employees to counter rising inflation,” he said. “Our annual budget didn’t have room for these two expenses, so we had to choose one.”

Can I buy a car with cryptocurrency in 2022?

Whether you think cryptocurrency is just a fad or the future of finance, it’s a fascinating technology. You probably made your last car purchase with boring old dollars, but maybe the next one will be with digital currency.

If you’re wondering if you can buy a car with cryptocurrency, you’ve come to the right place. Let’s see how it works and if it’s a good idea. As with all money matters, it’s best to consult your financial advisor before making any investments.

What is Cryptocurrency?

Cryptocurrency is a decentralized digital asset. Created in the aftermath of the 2008 financial crisis, Bitcoin is the original cryptocurrency. It is still the largest in terms of market capitalization and has inspired thousands of “altcoins”. Popular alternatives are Ethereum, Litecoin, Ripple, Solana, etc. The purpose of some cryptocurrencies is to be a store of value like “digital gold”. Others intend to be a medium of exchange like cash to buy and sell goods and services.

Another type of cryptocurrency is stablecoins. Stablecoins like USD Coin and Tether are tied to government-issued currencies like the US Dollar and Euro. For example, one USDC is worth $1. Stablecoins serve as digital placeholders for real-world global currencies.

America’s largest cryptocurrency exchange is a website called Coinbase. You can buy, sell, and manage hundreds of different cryptocurrencies on Coinbase. Merchants can use it as a payment processor for crypto, similar to PayPal.

How to buy a car with cryptocurrency

There are several ways to buy a car with cryptocurrency. Some online car marketplaces such as Car for Coin and BitCars allow you to exchange crypto – primarily Bitcoin – for a vehicle.

There’s a simple way to use cryptocurrency as payment anywhere debit cards are accepted. Crypto debit cards like the BitPay Mastercard and Coinbase Visa card work like regular debit cards, but they pull funds from your crypto wallet rather than a bank account.

Some of BitPay’s trusted partners include RM Sotheby’s, Vegas Auto Gallery, and Mecum Auctions, but you can use a BitPay card anywhere Mastercard is accepted. You can use a crypto debit card for down payment, monthly payments, and insurance payments, but you might have trouble finding a dealership that lets you buy a car directly with a debit card.

BitPay supports many major cryptocurrencies like Bitcoin, Ethereum, and Litecoin, stablecoins like USD Coin and Binance USD, and even some memecoins like Dogecoin and Shiba Inu.

A few other crypto debit card options include the CryptoWallet Mastercard and the Crypto.com Visa card.

A list of cars you can buy with Crypto

Some car dealerships across the country accept cryptocurrency as payment, but no manufacturer accepts crypto across their entire dealership network.

Here are some dealerships that accept crypto through payment processors like BitPay and Coinbase:

  • Jeff Wyler Automotive Family in Ohio, Kentucky and Indiana
  • Carriage Auto Group in Georgia and Alabama
  • Bob Moore Auto Group in Oklahoma
  • Edmark Toyota in Nampa, Idaho
  • Lamborghini Newport Beach in Irvine, California.
  • Reed Jeep Chrysler Dodge Ram in Merriam, Kansas
  • Porsche Towson in Towson, Maryland
  • Rockville BMW in Rockville, Maryland
  • Atlanta Motor Cars in Atlanta, Georgia

Tesla CEO Elon Musk has accepted Bitcoin as payment at Tesla stores, but at the time of this writing, this system is not in place. However, if you want to buy a Tesla or other electric car with cryptocurrency, you might find it for sale on crypto exchanges or at the car dealerships mentioned above.

Should I buy a car with Crypto?

Anyone who has spent time with digital currency knows that anything involving crypto carries a lot of risk. Cryptocurrency values ​​are extremely volatile.

For example, Bitcoin hit an all-time high of nearly $68,000 in November 2021. You could have bought a new Porsche 718 Cayman with one Bitcoin. However, at the time of this writing, the value of Bitcoin is around $19,000. That same bitcoin that could have bought a Porsche less than a year ago will now give you a basic Subaru Impreza.

Since car values ​​do not fluctuate as much as cryptocurrency values, stablecoins would be a good way to pay for a car with digital currency. For example, placing USDC in a BitPay wallet and using it to make car payments is a safer way to pay for your car without worrying about the value of your crypto tanking.

If you are a true cryptocurrency supporter, buying a car directly with crypto like Bitcoin could be a great way to use this innovative technology. Also, it might be fun to tell your friends that you bought your car with Bitcoin.

Read related car buying stories:

AO World plunges for second consecutive session amid fears for its future

AO World plunges for second consecutive session amid fears for the future of the white goods sector

Shares of AO World slumped for the second straight session as fears grew over its future.

The white goods sector – which sells everything from fridges and washing machines to TVs and computers – came under pressure after insurer Atradius withdrew its credit cover amid the cost of home crisis. life hits sales.

Without credit insurance, AO suppliers require payment up front, rather than spreading the cost over the normal 90-120 day period, further increasing the company’s cash flow worries.

Uh oh: AO World – which sells everything from fridges and washing machines to TVs and computers – came under pressure after insurer Atradius withdrew its credit cover

The company confirmed on Monday that it had become aware that a third-party credit insurer of some of its suppliers had “rebased their coverage in May 2022 from AO, reflecting post-Covid sales levels”.

He tried to reassure investors, saying he had access to an £80million loan facility, but brokers believe the company will have to tap into shareholders’ money to survive.

The update provided little reassurance and shares fell another 15.5%, or 8.65p to 47p yesterday, meaning the stock is down 33% this week.

At the moment, it is not known how much money the company spends on a daily basis.

But analysts at Peel Hunt say there is evidence that deteriorating supplier payment terms are now eating away at ‘working capital’. In March, AO said it had total liquidity of £50m, up from £66m in September.

Analysts said scrapping credit insurance would have sent shockwaves through AO’s investor base, a move that in the past marked the beginning of the end for retailers like Woolworths, HMV , Comet and Toys ‘R’ Us.

The bankruptcies of retailer Debenhams and Sir Philip Green’s Arcadia were also preceded by cuts to the cover that protected their suppliers.

Julie Palmer, a partner at corporate restructuring firm Begbies Traynor, warned that once credit insurance is cut, a business can be gone quickly.

“This situation can escalate quickly,” she said. “They need to nip this in the bud or they will end up with a cash flow squeeze. It becomes a death spiral.

The move caps a rotten period for AO, which issued its third profit warning in six months in April after being pounded by the cost of living crisis.

At the time, the firm also revealed that it was postponing the publication of its annual results for the year to the end of March.

The business experienced a strong pandemic as people sat at home, using their accumulated savings to buy themselves white goods and appliances.

But that recovery proved to be short-lived and since then people have tightened their belts with major spending ending as consumers are squeezed hard by rising energy, fuel and food bills.

Neil Wilson, an analyst at Markets.com, said: “Retail of all kinds is struggling as discretionary spending will be rattled by inflation and dire consumer confidence.”

“Spending on appliances is at its worst level in eight years, people are cutting back on everything but the essentials, so pets, upholstery, appliances are all going to be under pressure.”

Under pressure.  AO chief executive John Roberts (pictured) founded the company in 2000 after a friend bet him £1 in a pub that he would not start his own business

Under pressure.’ AO chief executive John Roberts (pictured) founded the company in 2000 after a friend bet him £1 in a pub that he would not start his own business

The crisis will be the toughest test yet for charismatic CEO John Roberts who founded AO in 2000 after a friend bet him £1 in a pub that he wouldn’t start his own business.

Famous for its excellent customer service, the company has grown rapidly and was listed in London in 2014 with a valuation of £1.2 billion. Roberts still holds a 22% stake.

But the former kitchen salesman, who left school at 17, has never been far from controversy, saying a year after floating that he ‘couldn’t give like a**t’ if managers of funds bought the shares. The company’s market capitalization is now just £267 million.

The company has faced a number of problems since its IPO, including a failed expansion into Germany.

The company pinned its hopes for growth on the country and invested heavily in a fleet of trucks, only to find they were too big to pass under bridges in Germany.

Last month the company announced it would close the German business at a cost of £15million.


2022 Funding Circle Review | Navigation

  • Funding Circle is known for offering fast, affordable loans with fixed rate terms to businesses with an established history.
  • For small businesses that want to avoid the slow and cumbersome aspects of traditional bank lending, Funding Circle offers an attractive alternative.
  • Funding Circle loans can also be a good alternative to the U.S. Small Business Administration (SBA) 7(a) loan due to higher maximum loan amounts, faster time to fund, and a shorter and less complicated application process.

What is the Funding Circle?

Funding Circle is an online lending platform that offers small business loans using peer-to-peer lending, connecting small business investors in the US, UK, Netherlands and Germany. They are the largest small business loan provider online and have specialized in small business loans since 2010.

As an online lender, Funding Circle does not have physical locations or bank branches, and they do not offer other financial services like checking accounts. But like other online lenders, they tend to provide faster approvals, faster funding, and less stringent application procedures.

With a completely online application, small business owners can see their loan options quickly and can get funding in as little as two business days after approval. In terms of small business financing, Funding Circle offers a lot to qualifying small businesses.

Funding Circle Competitors

There are many lenders, online and offline, that focus on small business loans. Here are some of Funding Circle’s main competitors in the United States:

  • Cabbage
  • BlueVine
  • On the bridge
  • Lendio
  • Fundera
  • loan club
  • LoanCrowd
  • SoFi

Outside of the US, Funding Circle also competes with lenders like iwoca, Zopa, and Assetz Capital.

Who is Funding Circle for?

Although they focus on small businesses, Funding Circle is not good for startups or business owners with unestablished creditworthiness. It’s a good idea to learn how to establish and improve business credit if you’re looking to improve your loan offerings.

Funding Circle is best for established businesses with at least two years of business experience and a personal credit FICO score of at least 720 or higher for majority owners. They will not lend to Nevada businesses or those working in the following industries:

  • Manufacturers of firearms or weapons
  • Gambling companies
  • Cannabis or marijuana dispensaries or developers
  • Non-profit associations
  • Speculative real estate

What does Funding Circle offer?

Funding Circle offers business term loans with long repayment terms and low monthly payments. They are known for having a free and easy application process that won’t affect your credit score. They also offer a faster application process and funding time, especially compared to traditional banks or SBA loans. Compared to short-term lenders, they offer lower interest rates, usually in the single digits. Funding Circle also does not apply prepayment penalties, so you can prepay your loan free of charge.

The lender will assign you an account manager once you have completed your application, and they will guide you through the application process, approval and funding.

You can use your funds for almost any business expense, including equipment purchases, inventory purchases, expanding an existing location or purchasing real estate for a new location, or l hiring and retaining staff.

Funding Circle Calculator

Wondering what your monthly payment would look like with a Funding Circle loan? You can determine this based on your loan amount, interest rate, and repayment terms.

Nav has created a loan calculator to help you figure out how much you’ll pay over time. Check it out:

Funding Circle Fees and Fees

Ready: Medium-term loan by financing circle

Assess: 10.46% -24.30% APR

Assembly costs: 1.99% – 5.99%.

Loan conditions: Monthly up to 84 months

Funding amount: $25,000 – $500,000

The rapidity: 3 days.

How to Qualify for Funding Circle Business Loans

Eligibility for Funding Circle business loans includes:

  • 720+ FICO Credit Score for Majority Owners
  • At least two years in business
  • No bankruptcy filings in the last seven years
  • Personal income tax returns for any guarantor holding a 20% or more interest in the company
  • Personal guarantee of at least 60% ownership of the business

How to Apply for a Funding Circle Business Loan

Funding Circle’s loan application is completely online. Borrowers can complete the application in less than six minutes and receive their approval notification within 24 hours.

To apply for a Funding Circle business loan, make sure you have the following documents:

  • Two most recent business tax returns
  • Two most recent personal tax returns (for all guarantors)
  • Six months of the most recent bank statements from the main bank account
  • A guarantor form for each additional owner who owns more than 20% of the capital of the company (at least 50.1% of the ownership must be signed)

Then, visit the Funding Circle website and apply by giving them:

  • The loan amount you think you need
  • The duration of your loan that you want
  • The legal name of your business
  • Last name and first name of the majority owner of the business
  • Your email
  • Business phone number
  • phone number

You can also choose whether you want Funding Circle to offer you loans from its partners.

Funding Circle Client Reviews

According to Funding Circle reviews, the lender has a good reputation among its customers. They have an A+ rating from the Better Business Bureau (BBB) ​​and a 4.6-star rating from Trustpilot.

These ratings are accurate at the time of publication. Please check directly with each resource for the most recent ratings.

Funding Circle Frequently Asked Questions (FAQ)

How is Funding Circle different from a bank?

Funding Circle is an online lender that uses peer-to-peer lending to lend to small businesses. This means that they help accredited institutional investors find ways to invest in small businesses. They also act faster than most traditional banks, working to get your small business financed as quickly as possible.

How do I apply for a loan with Funding Circle?

To apply for a loan from Funding Circle, gather the documents (listed above) and visit their website. You’ll need to know how much you want to borrow and how long you want to pay it back, and provide contact information and a bit about your business. Once you submit your application, you will be assigned an account manager. They will help you submit the required documentation and guide you through the process.

What are the benefits of borrowing money from Funding Circle?

The main advantage of working with Funding Circle is efficiency and speed. The underwriting process is completed using technology and approval decisions are made in as little as one business day. Plus, because they report your loans to major credit reporting agencies, your payments can help you establish business credit.

Where is Funding Circle located?

Funding Circle has two US offices in San Francisco and Denver.

The Last Word from Nav: Funding Circle

If you are a small business owner with relatively good credit, an established business, and high annual income looking for a simple application process, fast approval times, and fast funding to quickly improve your fund turnover or your cash flow, Funding Circle may be a good choice for you.

Nav can help you compare lenders, loan types, and business financing options, including a line of credit, business credit cards, merchant cash advance, or other options. Find out which financing options you are most likely to qualify for by register for a free Nav account today.

This article was originally written on July 5, 2022.

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Weaponsmiths go south

Of all the companies leaving blue states, those in the firearms industry are leading the pack.

Renowned gun manufacturers, some of whom have operated in the northern states for centuries, are now heading south. Remington, founded in 1816 and America’s oldest gunmaker, announced in November that it was moving its headquarters from New York to Georgia.

Announcing the move, which will include a $100 million investment in a state-of-the-art manufacturing facility and create 856 new jobs, Remington CEO Ken D’Arcy said, “The decision to locate in Georgia is very simple. The state of Georgia isn’t just a business-friendly state, it’s a gun-friendly state.

Dark Storm Industries, a firearms manufacturer and retailer, is also leaving New York. They will move to Titusville, Florida, where they have begun construction of a new manufacturing facility, creating up to 75 jobs in Florida.

“If you’re in the gun industry and you have the opportunity to move to Florida, you realize that’s where you want to be,” said Kevin Elder, director of communications for Dark Star. , to The Epoch Times. When the company asked its employees if they would consider moving south, they didn’t hesitate, Elder said, “they were ready to go.”

Dark Star was founded to manufacture firearms that complied with New York’s strict regulations, “but they keep adding more and more restrictions and hurdles to jump through,” Elder said. “Our clientele is very friendly, and our community, and we try to give back as much as we can. We do a lot of charity work and local law enforcement loves us. But as far as the state itself, they don’t want that stuff here.

Elder said Dark Star’s problems in New York go beyond state regulations to also include banks and payment companies. “We had to change the credit card processors,” as well as the company’s bank, he said, because they refused service to gun companies, despite their strong creditworthiness.

Tennessee was another popular destination, attracting Smith & Wesson in September and Troy Industries last May, both of Massachusetts. Even before the announcement of these moves, Tennessee was already home to more than 20 firearms manufacturing companies.

Smith & Wesson’s move to Maryville, Tennessee will involve an investment of $125 million and create 750 new jobs. Among the many reasons cited by CEO Mark Smith are new laws proposed by the Massachusetts Democratic-led legislature banning the sale, possession and manufacture of “assault weapons” and “large capacity magazines” in civilian use. Smith noted that these products accounted for 60% of his company’s revenue.

Steve Troy, CEO of Troy Industries, also cited the “changing climate for firearms manufacturers” in Massachusetts, which “determined the need for our relocation to Tennessee.” Troy Industries will invest $7 million in Clarksville, Tennessee, creating 75 jobs.

Other gun companies leaving blue states include Kimber Manufacturing, which moved from New York to Alabama; Winchester Centerfire, who moved from Illinois to Mississippi; Stag Arms, who moved from Connecticut to Wyoming; and Magpul Industries, which moved from Colorado to Wyoming and Texas.

The gun industry’s migration is part of a broader move by American companies to escape high-tax, high-regulation states like California, New York, Illinois and New Jersey. But gunmakers are in particular pressure to leave these states in response to new laws and regulations seemingly designed to drive them out.

What all destination states have in common is that “they respect the contributions these companies make to state economies,” Mark Oliva, chief executive of the National Shooting Sports Foundation, told The Epoch Times. “And they respect the Second Amendment rights of consumers who buy these guns.”

The firearms industry is a growing business. “Our last economic impact report showed we’ve grown 270% since 2008,” Oliva said, “and it’s an industry that continues to grow every year.” About 20 million firearms were purchased in 2021, the second highest year on record after 2020, when nearly 22 million were sold. Gun owners are an increasingly diverse group, with women and minorities making up the fastest growing percentage of new gun owners.

American small arms manufacturers also supply the police and the army. According to the Buy America Act of 1933, the federal government must buy from American companies whenever possible. This prompted many foreign arms manufacturers, including the Austrian Glock, the Italian Beretta and the Czech CZG, to set up shop in the United States. Beretta originally set up manufacturing in Maryland, but moved to Tennessee in 2016. Glock manufactures in Smyrna, Georgia, and CZG bought Colt Manufacturing in 2021, giving it production facilities in the United States and Canada.

However, efforts to bankrupt the gun industry continue, both at the federal and state levels. Last June, New York State passed a law making it easier for the state and its residents to sue gun manufacturers for injuries caused by the guns they make. New Jersey and California are considering similar legislation, and in February grieving parents of elementary school children who were shot in the 2012 Sandy Hook massacre successfully sued Remington, the maker of the gun used in that tragedy. , on the grounds that it was commercialized. improperly under a Connecticut consumer protection law.

President Joe Biden has called for a nationwide ban on semi-automatic rifles and magazines with more than 10 rounds, spoken out against the use of 9mm ammunition and demanded the repeal of the 2005 the Lawful Arms Trade Protection, which protects the firearms industry from prosecution for the “criminal or unlawful misuse” of firearms. Biden claimed, incorrectly, in April 2021 that “the only industry in America, a billion dollar industry, that cannot be sued, exempt from being sued, are the gun makers.”

“President Biden stood on the campaign stage during one of the early debates and declared that gun manufacturers are the enemy; not an adversary, not an adversary, an enemy. Olivia said. “It’s compelling when our Commander-in-Chief sees the industry that provides the means to protect our nation, protect our communities and protect us, as the enemy.”


Kevin Stocklin is a writer, film producer and former investment banker. He wrote and produced “We All Fall Down: The American Mortgage Crisis”, a 2008 documentary about the collapse of the American mortgage financing system.

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Import and export of agricultural equipment after Brexit

How is the global machinery buying and selling landscape changing?

The past few years have been anything but quiet in the global economic marketplace, with the repercussions felt across the agriculture, technology and energy sectors.

The result is that business owners are paying more attention to their annual budgets than ever before, as they try to plan what the next five years will look like for their business.

Of course, when weighing costs, it’s essential to consider what short-term investments are worth making for long-term success, and in particular what equipment your business needs to secure its future.

Faced with the challenges presented by our current economy, it is likely that many will find this dilemma difficult to resolve as they enter the new period of buying and selling.

However, information provided below by Reece Dye, Head of Corporate Transactions at Clear Currency, might help shed some light on the situation.

Q: Why is it worth investing in new, high-quality machinery and equipment?

A: Despite the initial capital outlay, it can help increase the productivity, efficiency and long-term profitability of your business. I think a big challenge for companies today is that they have to learn to work smarter, more sustainably and to think about how best to use the resources on offer.

Smart farming technologies, such as Internet of Things (IoT) devices, which are sensory objects, can collect real-time environmental metrics that can improve nearly every aspect of a farmer’s job. This can help them meet food production demand, reduce costs, reduce waste and improve product quality.

Green technology and equipment will also be essential to help businesses meet the climate change commitments made by countries attending COP26 in 2021. To avoid fines from the Environment Agency, businesses need to consider the equipment that can help them achieve these goals.

Q: What are the most popular countries that UK companies source equipment from?

A: The Brexit trade deals have impacted machine sales worldwide. However, Italy, China and Germany continue to be among the top countries where UK businesses buy equipment.

Investing in smart farming technology can increase productivity, sustainability and improve product quality.
– Credit: Getty Images/iStockphoto

Q: Has Brexit had any other impact on machinery imports to the UK?

A: Since leaving the EU, the agricultural subsidiaries have been dissolved. Previously, the EU paid farmers money every January, which they could use to buy new equipment if they wanted to.

This is no longer the case, many farmers are buying less and delaying their purchases. Instead of replenishing equipment in 5-10 year cycles, companies are more reserved about committing to such purchases and would prefer to keep more cash in the bank.

Brexit has had a huge ripple effect between trade and financial services. The UK government is in talks with the EU to facilitate this transition period, but nothing is set in stone yet and we still do not fully understand the ramifications of Brexit. It will probably be several years before we realize the true extent of how Brexit has affected businesses and consumers.

Q: How have the rising cost of living and Covid-19 affected manufacturing and global supply chains?

A: The pandemic has slowed down the global economy and clogged supply chains. This has resulted in shortages, delays and higher shipping costs. Coupled with rising inflation, many are seeing the prices of overseas purchases skyrocket. It will be essential for businesses to factor in these extended lead times and increased costs when purchasing equipment overseas.

The Bank of England is set to raise interest rates further, meaning businesses will have to weigh what is a good investment for them in the short term versus the long term to ensure their capital is being used wisely. .

It is difficult to attribute any particular event to the state of the current market. Rather, it is the culmination of many events that have occurred nearby over the past five years.

The drone flies over the plowed fields agriculture

Internet of Things (IoT) devices collect metrics, such as weather conditions and soil quality, that farmers can use to streamline operations and address today’s labor shortages.
– Credit: Getty Images/iStockphoto

Q: What are the risks involved in buying equipment from another country?

A: Exposure to currency risk is one of the main things to consider when purchasing transatlantic machinery. Exchange rates are in a constant state of flux, which means values ​​can go up or down at any time.

If the exchange rate fluctuates when a sale is made, shipped, and delivered, it can significantly affect how much a business can end up paying.

Finalization and delivery of overseas machinery sales can take three to six months. Typically, you see longer lead times with high value items and different vendors work on different terms. Most require an upfront payment of 30%, and the remaining 70% is paid upon delivery.

During a three-month period, exchange rates will inevitably fluctuate. However, in the current climate, we have seen moves of up to 6%, which is historically extremely rare over a relatively short period of time. If companies don’t put adequate protection in place, they could end up spending more than expected and, in some circumstances, more than they can afford.

SMEs should have the appropriate discussions to mitigate the risk of currency fluctuations. Tools such as futures are an effective way to mitigate currency risk by locking in a fixed price for a set period of time.

Q: How can using a currency specialist like Clear Currency help businesses when buying equipment overseas?

A: Due diligence and forecasting will be critical for businesses over the next 12 months. They should start the exercise by understanding their currency exposure, how currency volatility might affect them, and developing an effective strategy to ensure they are protected against adverse market movements.

Our team of dedicated account managers aim to work alongside companies to discuss an appropriate cost/price budget ratio, implementing a bespoke strategy that is cost effective and tailored to the client’s risk appetite. .

When transferring large sums of money overseas, it is essential to know the current exchange rates and ensure that no hidden costs are involved. Clear Currency offers great exchange rates, same-day international transfers, and transparency with fees. Sign up for an account today.

We get to know the intricate mechanics of each client’s business and can provide key currency insights to help achieve their future goals.

Consulting the right advisors and experts will play a vital role in helping businesses overcome future hurdles and compete on the global stage.

Clear Currency is regulated by the FCA and has a 5* Trustpilot rating.

For more information on international payments, visit clearcurrency.co.uk.

Call +44 (0)20 7151 4871 or email [email protected] for more information.

City loan helps launch cafe: Alice Good takes over space vacated by Tuvalu | Company

A loan from the city of Verona will help ensure “all is well” for the business moving into premises at 300 S. Main St.

Alice Good will take over the space which was vacated by the Tuvalu Coffeehouse in December. Like its predecessor, Alice Good will be a café-café, and will aim to be specialists in Colombian coffee.

Co-owner Ralph Stern has always been a coffee enthusiast, but how he ended up living in Colombia – a country where the coffee is often considered some of the best in the world – was more accident than design.

Stern was born and raised in the Madison area, but moved for college.

He had studied economics and after university in 2008 he decided to go to Paris for a summer in business school, and he loved it so much that he decided to stay there, until “just one year” becomes eight years.

He met his wife in France, but she was of Colombian origin and had just visited him. Stern moved with her to the South American country and lived there for five years.

“It was a happy accident that I was a coffee freak,” he said.

But while Stern and his wife, Laura Serrato, were happy in South America, the pandemic made them see life differently and they decided to move to the United States to be closer to Stern’s parents, who were having some health issues. health.

Returning to Wisconsin offered Stern the chance to pursue a new career.

“I was a geek and a coffee enthusiast for years, and people were like, ‘Why don’t you work in coffee? ‘” Stern said. “I always had an excuse – I already have a good job, the economic conditions are bad.”

Just when he finally decided to focus on his passion, the pandemic hit Colombia. Luckily, that was right before he and Serrato signed a lease to open a cafe there, so they started an online packaged coffee business instead.

When Stern and Serrato landed in the United States, they began looking for different spaces to open their dream business in Madison, Sun Prairie or Verona. Their timing coincided with the Tuvalu shutdown.

“Verona with its cycling culture, trails, nature and Epic – we were happy to take this space,” Stern said. “We want to not only provide great coffee, but make the space inviting where people want to hang out, want to stay – a neighborhood place. We really felt the location in Verona was head and shoulders above the rest we looked to be able to provide that. Icing on the cake, it was an old cafe. That should help put our stamp there. I hope the service we provide is as good or better than Tuvalu once we open in a few weeks.

The remodel is going well, Stern said — but as tends to happen with remodeling projects — there were some little surprises along the way, which pushed them back from opening.

“The carpets were quite old and other elements needed to be removed to make the space look and feel,” he said. “We’re not ripping everything, but we wanted some upgrades to make it a bit more modern, it had an old look.”

They are aiming for a summer opening, but were already hoping to be open.

Like its predecessor, the focus will be on coffee, but there will be plenty of free drinks, including organic teas from Rishi Tea and hot chocolate with cocoa sourced from Colombia. They also partner with Madison’s Bloom Bake Shop to offer a selection of donuts, scones, and other baked goods. The menu will be complemented by light dishes such as salads and sandwiches.

To start, the hours will be from morning to early afternoon. They won’t start in the evening, partly because it has been difficult to hire enough staff.

They are considering extending the hours at some point, perhaps to piggyback on nearby nighttime events like Music on Main or to offer their own live entertainment.

Since Serrato is a Colombian resident getting her green card, the pair were ineligible for many small business loans because they couldn’t meet the stipulations that 51% or more of the owners were US citizens.

“We found ourselves in difficult situations in the banks,” Stern said.

They were able to breathe a sigh of relief when they discovered a loan program offered by the city of Verona when they were looking for financing options in February. They applied in March and were approved in May to receive $75,000 under the city’s revolving loan fund.

“The purpose of the Verona Economic Development Commission Revolving Loan Fund is to provide capital funding to encourage business development in the city,” the city’s website says. “VEDC loans are intended to be used in conjunction with conventional private financing to fill financing needs and gaps and serve as an economic development tool to encourage business expansion, employment opportunities and investment in the community.”

City Administrator Adam Sayre told reporters he was aware of four revolving loans the city had disbursed in the past 10 years. In addition to Alice Good, the fund has helped Edelweiss Cheese, Verona Area Community Theater and Treehouse.

In terms of repayment for the city, it’s a regular loan with monthly payments and interest, Stern said.

City funding will be an extra, as Stern and Serrato have to invest more than the city.

“They provided capital to get us started,” Stern said.

And now, thanks to the help of the city, all is well at Alice Good. But who is Alice Good, apart from Stern and Serrato?

The name has a double meaning.

Stern’s grandmother was a Holocaust survivor who spent time in Auschwitz and Buchenwald. She fled to the United States and started a new life under the pseudonym Alice Good, which she derived from the Yiddish-German phrase “alle ist gut” which means “all is well”.

With their funding a little more secure, now Stern and Serrato are looking forward to being able to open their doors in three weeks.

“Verona is a great community and we are happy to be part of it,” Stern said. “We are excited to open up and welcome the Verona community and anyone who wants to come.”

Google agrees to $90 million settlement with app developers

Image for article titled Is Google's $90 million settlement a win for app developers or for Google?

Photo: Kirill Kudryavtsev (Getty Images)

Small app developers snatched $90 million from Google in a legal settlement announced on Friday, in the wake of a similar agreement with Apple.

In a Blog After Friday, Google said it had agreed to pay $90 million to settle a lawsuit with app developers who claim the Android maker abused its dominant market position to unfairly charge them fees. 30% off for in-app purchases made through the Play Store. Although the major settlement marks a short-term win for developers, critics tell Gizmodo that Google’s concessions appear to be just another attempt to thwart the proposals. antitrust legislation that threatens Google’s mobile app business at a fundamental level.

“There is clearly a pattern here where they [Google] try to give the impression that they are responding to critics’ concerns without changing their fundamental problem”, American Economic Freedoms Project (AELP) policy director Pat Garofalo told Gizmodo in a phone interview.

Google’s proposed $90 million fund would pay developers who earned $2 million or less in annual revenue through the Play Store between 2016 and 2021. According to Google, this cohort represents the “vast majority of US developers” who earn money on the play store. Additionally, and possibly more permanently, Google has said it will revise its Developer Distribution Agreement to make it clear to developers that they have the ability to use users’ contact information on their app. to contact such users by email or other methods to discuss payments. The settlement will also allow developers who earn less than $1 million in annual fees to Continue pay a reduced service fee of 15% until at least May 25, 2025. The proposed settlement is still awaiting court approval.

Google, presumably with gritted teeth, said it was “satisfied” with the settlement, which it said would avoid “years of uncertain and distracting litigation.” The online advertising company struck a similar deal with Spotify in March this year, allowing Spotify subscribers to pay through the Play Store or Spotify’s own payment system.

Lawsuit accuses Google of monopoly status

The class action court case, originally filed in 2020, claims that Google’s Play Store payment requirements violate antitrust laws. The lawsuit says the rules hurt developers by allowing Google to retain a monopoly in the U.S. market for digital distribution on Android phones and for in-app purchases. Attorneys for Hagens Berman, representing the plaintiffs, said these restrictions forced their customers to pay “exorbitant fees.»Hagens Berman valued around 48,000 app developers have been eligible for a minimum payment of $250. Some developers might even walk away with over $200,000.

“Today, nearly 48,000 hard-working app developers receive the fair payment they deserve for their work product, which Google has sought to capitalize on, at all costs,” the managing partner said. and co-founder of Hagens Berman, Steve Berman.

Richard Czeslawski, chief operating officer and president of Pure Sweat Basketball, one of the developers involved in the lawsuit, welcomed Google’s commission rate changes. “Google’s commitment to maintain a reduced fee through May 25, 2025 gives Pure Sweat and Settlement Class Members the substantial direct benefit of a significant and ongoing 50% reduction in the service fee rate of Google from 30% to 15%,” Czeslawski said in a statement. “We’re proud to know that our work in this lawsuit has helped secure this program that will make it easier for consumers to find apps from small developers who distribute new apps through Google Play.”

Google did not immediately respond to Gizmodo’s request for comment.

Experts say Google feels ‘seriously threatened’ by impending antitrust law

Google’s settlement offer comes as lawmakers consider new antitrust legislation that would effectively ban Google from requiring developers to use its payments system. Introduced by Sen. Connecticut Democrat Richard Blumenthal theOpen Application Markets Act would put in place provisions requiring app stores to allow developers to use separate payment systems. The bill, as currently drafted, would also prevent app store owners like Google from punishing developers or imposing less favorable terms if they choose to use “pricing or different sales via another in-app payment system or on another app store.

Although the settlement may result in immediate positive results for affected developers – more money –corporate responsibility groups like the AELP warn that this could also serve as a defensive measure for Google ward off impending state and federal competition laws, which, if passed, it would likely result in lost revenue that would far eclipse the $90 million settlement.

“This is another move by Google in a series of moves to stave off legislation such as the Open Markets app,” AELP’s Garofalo said. “Google responded to this [proposed legislation] trying to appease the critics. Garofalo said Google’s recent changes and lobbying efforts, both in statehouses and at the federal level, prove he feels “seriously threatened by antitrust action.”

Developers have been crying foul at Google for years supposedly application fee. The problem also extends to Apple. In this case, Apple switched to lower its commission rate of 30% to 15% in 2020 for app developers who make less than $1 million in annual net sales on its platform. Google followed with a similar fee reduction months later. The developers were still dissatisfied, and, in the midst of growth calls for regulationApple agreed to create a $100 million fund for developers who earned $1 million or less from all of their apps each year between June 4, 2015 and April 26, 2021.

Hagens Berman has been involved in Apple and Google settlement cases and said the payments should send a message to the industry as a whole.

“Following our victory against Apple for similar behavior, we believe this pair of regulations sends a strong message to Big Tech: the law watches, and even the world’s most powerful companies are accountable when they stifle competition,” the lawyers said in a statement.

Garofalo acknowledged that Friday’s settlement, if approved, would benefit developers, but said it fully addresses anti-competitive and allegedly monopolistic behavior in app markets.

“It doesn’t change the fundamental fact that there are these two players in this space on app distribution and they have sullied monopolies next to each other,” Garofalo said. “This is no substitute for vigorous government action to break their monopoly on app distribution.”

Just like the Harlem Globetrotters changed basketball forever, the Perth Heat can change the sport forever with Bitcoin

An Australian baseball team, the first to fully adopt a bitcoin standard, is well positioned to be an advocate for bitcoin in the sports world.

Almost 100 years after the formation of the Globetrotters in 1926, the Perth Heat, Australia’s bitcoin baseball team, is set to change the sport forever, but in a different way.

Originally, the Globetrotters played a huge role in the desegregation of professional basketball. But some 20,000 victories later and having played for more than 120 million fans in 123 countries around the world, the legend of the Globetrotters lives on.

In November 2021, Perth Heat became the first team in the sports world to start operating on a Bitcoin standard. It was a decision that surprised many – a decision that skeptics scoffed at and a decision that standards had no idea what it meant or why a company would even consider BTC.

But like every piece of technology that has passed into human hands over the centuries, these attitudes will change and it won’t be long before every professional sports team is integrating bitcoin into their business.

Why will sports teams integrate Bitcoin?

First, because their players will demand payment in bitcoin. Athletes understand the low preference for time better than most.

Second, sports organizations will not remain competitive if they sit on the sidelines.

Likewise, bitcoin will not win if it sits on the sidelines.

Recently, Block Inc. published research on global bitcoin awareness which Marty Bent summarized in issue-1218:

“Currently, the conversation around bitcoin is limited to Twitter, YouTube, tech mailing lists/forums, and GitHub. Whether you like it or not, one thing bitcoiners can do to try to bridge the information gap is to meet audiences where they live these days, which include platforms like TikTok and Instagram,” Bent wrote.

So how does the famous story of the Globetrotters and a baseball team from Perth, Australia contribute to the global adoption of bitcoin?

Well, just like the Globetrotters helped bring basketball to so many new fans, the Perth Heat can bring bitcoin to so many new communities.

Did you know that there is a semi-professional baseball league in France?

Now imagine this.

The Bitcoin baseball team lands at Charles de Gaulle airport, Paris, to play a series of games against France’s top baseball team, the Rouen Huskies.

The Huskies are like the Yankees. They’ve won 15 of the last 17 championships – they win a lot.

So can a baseball team, running on a bitcoin standard, stop the Huskies juggernaut?

Would such a game intrigue the great French newspaper L’Equipe?

What about scenario two?

This time, the Bitcoin baseball team is crossing the Atlantic Sea for a trip to Mexico!

Mexicans love baseball and we know Ricardo Salinas loves bitcoin.

Now, if Uncle Ricky were to throw out the ceremonial first pitch at the game, do you think photos of Salinas throwing a bitcoin-branded baseball would make headlines?

In Mexico, the Bitcoin baseball team could play a series against Durango. Durango is in the Mexican league and the organization has developed its own fan token, Xoy Coin!

Suddenly we could have the first-ever international event between a Bitcoin sports team and a tokenized team – and when Perth wins, bitcoin’s inevitable conquest over all other coins will become evident!

The cities and the places of reception are innumerable.

Tournaments around the world could be created, and the Bitcoin Cup could be held in different cities like London, Shanghai or Johannesburg.

Imagine, the Bitcoin Sports League! Perth Heat (baseball), Peter McCormack’s Real Bedford (soccer) and the NBA’s Houston Rockets who partnered with NYDIG (basketball).

Off-season, from March to October, the Bitcoin Baseball Team could travel the world to help education and global adoption as role models and community partners, even supporting projects like Jack Dorsey and Jay Z’s Btrust in Nigeria.

Just as the Globetrotters took basketball to all parts of the world, entertaining communities that knew little about basketball, the Perth Heat are poised to play a similar role for bitcoin.

It’s time to play ball.

This is a guest post by Steven Nelkovsky. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Small businesses are stable now but worried about the future |

Small business owners are doing well financially right now, but their worries about the future are growing, according to a new Small Business Finance Index from NerdWallet.

This is the first installment of the NerdWallet SMB Funding Index. It tracks and weights data from multiple sources, beginning in December 2021. Future index readings are always relative to the initial entry of 100. For example, an index reading of 110 would indicate that the index increased by 10% since December 2021.

Tracking this data provides a consistent view of the economic context in which small businesses operate. The ability to receive, deploy and repay funding is crucial for many small businesses. Changes in funding activity can signal an expansion or contraction in overall business activity.

Overall, the index has remained relatively stable since the start of the year, suggesting that funding-related activity has remained stable. After a slight dip in January, the index, which gauges factors such as delinquency rates, new loan volumes and small business owners’ optimism about future economic conditions, rose slightly in February and March. .

However, in April, the most recent entry, the index fell to 101.9, down 0.4 percentage points from the previous month. New loans and healthy credit card repayment rates have helped push the index higher since January 2022, but the index’s underlying data suggests that rising interest rates and deflating optimism have started to weigh on small business owners.

The current index plunges to 101.9

The overall rise in the index since the start of 2022 indicates that small businesses could increase their use of financing, that they are able to repay loans on time and that owners are preparing to spend to meet future demand. anticipated. The volume of loans to small businesses has increased slightly since January, although this pace slowed in April. Credit card usage (the percentage of a card’s credit limit that a cardholder uses for purchases), another sign of expansion, also rose slightly.

However, business owners have become more pessimistic about future sales and fewer plans to increase inventory, the data shows. Supply chain issues, inflation and geopolitical turmoil have only intensified since April. If more small businesses stop looking for financing, struggle to repay loans, or adopt a more defensive mindset for the coming months, the index could continue to fall. And because some loans can take a few months to go from application to completion, a slowdown in new loan applications today might not yet show up in recorded data.

Small businesses plan for an uncertain future

It doesn’t take mental gymnastics to understand the mindset of a small business owner. “Small business owners worry about the same things consumers worry about,” says Lori Martinek, a Los Angeles-based certified mentor with SCORE, which offers free business coaching nationwide.

The rise in prices weighs on the budget of households as well as that of small businesses. In addition, a slowdown in one pocket of the economy can impact others, including small businesses, says Frank LaMonaca, a certified mentor with SCORE. Production cuts at major automakers could affect smaller companies making auto parts, and restaurants near hotels could struggle if business and leisure travel dries up, for example.

A national slowdown in small business activity could have a significant impact. The United States has about 8 million small businesses, according to the US Census Bureau, and these small businesses account for about 40% of the country’s economic activity, according to the US Small Business Administration.

“We always used to say in banking that when you give a loan to a small business, you don’t get paid back by them; you get reimbursed by their customers,” LaMonaca says. “That’s what banks do, that’s what small businesses need to look at too.”

Experts Say: Do These 7 Things Now

1. Make plans for a range of results

Martinek says uncertainty is a reason to plan more, not less. Creation of schedules for a variety of situations, including an economic downturn, could prepare you to act quickly on whatever the future throws at you. “You can’t pivot if you’re not ready to act,” she says.

2. Look at the calendar

Securing financing should be the last thing to scuttle if you’re considering switching from one plan to another. “Apply for credit is not a short process,” says Martinek. “Make sure if you want the money tomorrow, you can get it tomorrow.”

3. Pay attention to your cash levels

“I used to recommend six months of cash [for new businesses]“says LaMonaca. “Now I recommend 12 months.” The change in recommendation is a direct response to uncertainty. “If you’re in business right now, I’d say the successful ones have the greatest cash flow.”

4. Cut expenses where you can

Preparing for a downturn could mean having the ability to weather a drop in revenue or the ability to take advantage of a sudden opportunity, Martinek says. To strengthen your cash flow, reduce your expenses. For example, delay acquisitions if you can and rationalize inventory where possible.

5. Eliminate slack in business operations

Adjusting the way you do business can also improve your cash flow situation, Martinek says. If you issue invoices, for example, focus on reduce outstanding payments and improving future payment terms.

6. Keep paying your bills

“The first thing you can do is protect your credit rating so that when you have a need in the future, it won’t hold you back,” says Martinek.

7. Talk to your banker before a default

Schedule a time to talk to your banker. “If you don’t have a local relationship, get one now,” says Martinek. Share your plan to overcome a possible slowdown. They should be able to help you troubleshoot your plan, and they might offer proactive solutions, like refinancing loans now to lower your monthly payment. “Your local banker has a lot more flexibility to give you new terms before a default,” says LaMonaca. “After 30 or 90 days of delay, their hands are tied. Their options to help you are greatly reduced.

NerdWallet’s Small Business Finance Index combines elements of Equifax’s Small Business Lending Index and Dun & Bradstreet’s Small Business Health Index, which capture small business lending activity and small business credit cards; and the National Federation of Independent Business’ Small Business Optimism Index, which measures owner sentiment.

Covid-19 has accelerated the shift to digital financial services

More than a third of adults in developing economies who paid a utility bill from an account did so for the first time after Covid-19, an indication of how the pandemic has boosted the adoption of digital financial services, according to the Global Findex 2021 database released Wednesday by the World Bank.

Worldwide, 70% of adults have access to the Internet. According to the report, 1 billion adults who have an account have not made any digital payments, including 540 million in India. And about 620 million adults who have an account still paid their utility bills in cash.

In developing economies, 1.6 billion adult account holders made cash-only merchant payments, including 670 million in India.

Experts say the future is digital, but not everyone is on board yet.

“Obviously, e-commerce has grown from a financial point of view. Transactions through the digital system are growing tremendously,” said Omesh Lal Shrestha, Managing Director of CAS Solution and Silver Lining.

“In Nepal, the number of digital payment users has skyrocketed after Covid-19, and people are becoming more accustomed to paying online,” said Shrestha, who is due to speak on the topic. From conventional to e-commerce in Nepal” at the Annual Daraz Summit 2022 on Sunday.

This year’s Daraz Summit aims to create a space for distinguished digital thought leaders to discuss the development phases of the e-commerce industry in Nepal, the prospects and challenges of business digitization and the steps that the industry can take together to transform these challenges. into opportunities.

According to the World Bank report, globally, the share of adults making a digital merchant payment also increased after the Covid-19 outbreak. For example, in India, over 80 million adults made their first digital merchant payment during the pandemic.

In China, 82% of adults made a digital merchant payment in 2021, including more than 100 million adults (11%) who did so for the first time after the pandemic began.

In developing economies, excluding China, 20% of adults made a digital merchant payment in 2021. These data indicate the role of the pandemic and social distancing restrictions in accelerating the adoption of digital digital payments.

In developing economies like Nepal, there are still many challenges due to lack of postal addresses or house numbers, which makes it difficult to deliver on time, Shrestha said.

Companies like Daraz have launched their own logistics wing, Daraz Express, which helps customers collect their goods from select pickup points, he said.

According to the World Bank report, in developing countries, women are less likely to have an account than men. Nepal has double-digit gaps in the use of digital payments among account holders.

Shankar Uprety, CEO of Hamro Patro, said that in Nepal financial decisions are mostly taken by men and hence there is also a gender gap in the digital payment system.

A large number of male users are making digital payments for electricity, internet, mobile phones and other services.

Uprety, who will be speaking as a panelist at the summit on “Blending Market and Trade for the Digital Economy,” said making the digital economy inclusive starts with bridging the gap in the informal economy.

“Unless women become digitally literate and become users, the gap will not easily close,” Uprety said. “Government can initiate programs for women on digital transactions to encourage the use of digital payment.”

There are significant gender gaps in Nepal where women report not having a bank account because a family member already has one, according to the World Bank report.

In Nepal, 73% of unbanked adults have a mobile phone, according to the report.

The report suggests that mobile phones could overcome some of the barriers that unbanked adults believe prevent them from accessing financial services. For example, digital financial services could alleviate the problem of physical distance between financial institutions and their customers.

The Daraz Summit will bring together key digital stakeholders and thought leaders from government, financial institutions, education, service providers, and the business and development sectors to provide valuable input to address the financial needs and bridging gender gaps in the digital marketplace. time.

Aanchal Kunwar, managing director of Daraz, said the summit would focus on building trust among customers.

He says e-commerce alone is not something that affects customer experience, as banks, financial systems and government policy are also required to deliver the service.

“Summits like this will help stakeholders come together to find better solutions and promote digital markets,” Kunwar said.

Some stakeholders claim that the lack of legislation has hampered the rapid growth of the e-commerce market in Nepal.

“We haven’t been able to go for an all-digital economy because we still lack e-commerce laws,” said Santosh Pandey, co-founder of OHO Cake and Offering Happiness. “Laws are needed to provide a clearer picture and to stimulate the industry,” he said.

Pandey will make his contributions on the theme “Blending Market and Trade for the Digital Economy” at Sunday’s summit.

The government has prepared an E-Commerce Bill which aims to create a regulatory environment that facilitates online commerce in Nepal.

The bill, when passed, will regulate and facilitate trade in goods, services and intellectual property rights electronically, and support the growing digital ecosystem.

E-commerce has steadily grown in Nepal, and the extraordinary situation created by the stay-at-home order following the coronavirus pandemic has underscored its importance.

Govinda Bahadur Karki, co-secretary of the Ministry of Industry, Trade and Supply, said the draft e-commerce law has been sent to the Ministry of Law for their suggestions. “We are preparing to register the bill in Parliament soon,” he said.

In addition to this, the Information Technology Bill is also in parliament, Karki said. “These two bills, once ratified, will help Nepal move towards a digital economy.”

According to Nepal Rastra Bank, there were 62.64 million digital transactions worth Rs 5.31 trillion during the month-long period from mid-April to mid-May of the exercise in progress.

“In Nepal, the e-commerce ecosystem is being built, with sellers in the marketplace being gradually formed,” Pandey said. “As logistics improve, so too are the number of digital payment options,” he said.

“An increase in the number of platforms such as Daraz, Pathao, Foodmandu and Bhojdeal, among others, helps generate 40-50% of our daily sales,” said Pandey, co-founder of OHO Cake and Offering. happiness.

Pandey said the number of customers ordering goods from social media platforms is huge compared to customers downloading a particular company’s mobile app.

“One of the biggest challenges in e-commerce is increasing the footprint outside the Kathmandu Valley due to logistical issues,” he said.

Sanjit Subba, CEO of Nepal Electronic Payment System, said e-commerce has grown over the past five years. “The Covid-19 pandemic has been the main driver.”

Subba will speak on “From Conventional to E-Commerce in Nepal” at the summit.

He said e-commerce has empowered local sellers, which is important for the economy and a big step forward for the digital economy.

“Although the number of online shoppers making digital payments has increased, many customers still stick to cash on delivery,” Subba said.

According to the World Bank report, 620 million adult account holders paid utility bills in cash globally, and more than 1.6 billion account holders in developing economies only used cash for merchant payments.

However, digitizing cash payments is not just about getting account holders to use an account.

Financial infrastructure – enabled by actors such as governments, telecommunications providers, payment processors and financial service providers – is also necessary to create an environment in which safe, affordable and convenient products and functionalities are widely available, according to the report.

“More needs to be done to do fewer cash transactions,” Subba said. “To make digital payment more inclusive, the government must also extend infrastructure to rural areas,” he said.

“Furthermore, we have also not been able to increase consumer confidence,” Subba said. “Unless a customer receives the product as expected and with a no-hassle return policy, it will be difficult to gain customer trust,” he said.

Developing and enforcing clearer guidelines on effective price disclosure and transparency could help build trust in the financial system and help account holders recognize the difference between legitimate fees that are part of the price of service and improper charges or excessively high interest rates, the World Bank said.

Merchant Cash Advance Market Booming with Strong Growth Prospects – Fundbox, Kabbage, Square Capital, National Funding, CAN Capital, Credibly, Stripe Capital, CanCapital – Indian Defense News

Merchant Cash Advance Market Research Report 2022 This research report provides Covid-19 outbreak study accumulated to offer the latest information on the acute characteristics of the merchant cash advance market. This intelligence report includes investigations based on Current Scenarios, Historical Records, and Future Predictions. The report contains different market forecasts related to the market size, revenue, production, CAGR, consumption, gross margin, charts, graphs, pie charts, price, and other important factors. While emphasizing the major driving and restraining forces of this market, the report also offers a comprehensive study of future trends and developments of the market. It also examines the role of major market players involved in the industry including their company overview, financial summary and SWOT analysis. He presents the 360 degree overview of the competitive landscape of industries. The merchant cash advance market is showing steady growth and CAGR is expected to improve over the forecast period.

Key Players of the Global Merchant Cash Advance Market Covered are:
Square capital
National funding
Capital CAN
Stripes Capital
PayPal working capital
American Express Merchant Funding
Financial Forum

In Chapter 6, on the basis of types, the Merchant Cash Advance market from 2015 to 2025 is majorly split into:
$5,000 to $250,000
$250,000 to $500,000
> $500,000

In Chapter 7, based on application, the Merchant Cash Advance Market from 2015 to 2025 covers:
Time spent in business 18 months

Global Merchant Cash Advance Market report provides you with in-depth insights insights, industry knowledge, market forecasts and analysis. The Global Merchant Cash Advance Industry Report also clarifies economic risks and environmental compliance. Global Merchant Cash Advance Market Report Helps Industry Enthusiasts Including Investors and Policy Makers Gain Confidence capital investments, develop strategiesoptimize their business portfolio, innovate successfully and perform in a safe and sustainable manner.

Merchant Cash Advance Market: The regional analysis includes:

  • Asia Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)
  • Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
  • North America (United States, Mexico and Canada.)
  • South America (Brazil, etc)
  • The Middle East and Africa (GCC countries and Egypt.)

Main points covered in the table of contents:

  • Insight: Along with a broad overview of the global Merchant Cash Advance market, this section provides an overview of the report to give an idea of ​​the nature and content of the research study.
  • Analysis of the strategies of the main players: Market players can use this analysis to gain a competitive advantage over their rivals in the merchant cash advance market.
  • Study on the main market trends: This section of the report offers a deeper analysis of recent and future market trends.
  • Market Forecast: Buyers of the report will have access to accurate and validated estimates of the total market size in terms of value and volume. The report also provides consumption, production, sales and other forecasts for the merchant cash advance market.
  • Regional Growth Analysis: All major regions and countries have been covered Merchant Cash Advance Market report. The regional analysis will help market players to tap into unexplored regional markets, prepare specific strategies for target regions, and compare the growth of all regional markets.
  • Sector analysis: The report provides accurate and reliable forecasts of the market share of important segments of the Merchant Cash Advance market. Market players can use this analysis to make strategic investments in key growth pockets of the Merchant Cash Advance Market.
  • Free report data (in the form of an Excel data sheet) will also be provided upon request with a new purchase.

Key questions answered by the report include:

  • What will be the market size and the growth rate in 2028?
  • What are the key factors driving the global merchant cash advance market?
  • What are the key market trends impacting the growth of the Global Merchant Cash Advance Market?
  • What are the challenges of market growth?
  • Who are the key vendors in the Global Merchant Cash Advance Market?
  • What are the market opportunities and threats faced by the vendors in the global Merchant Cash Advance Market?
  • Trending factors influencing the market shares of Americas, APAC, Europe and MEA.
  • What are the key findings of the five forces analysis of the Global Cash Advance Merchant Market?

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Slavic Village owner talks town’s initial pandemic funding plan

CLEVELAND — Meeka Compton was finally able to own her home in Cleveland’s Slavic Village neighborhood just three years ago and now hopes the city will use millions in US federal funds to help others achieve the same dream.

Compton told News 5 that the City of Cleveland should invest more money to try to repair and save distressed homes as the Cleveland City Council drafts a $56 million ARPA spending plan June 27.

“Start fixing some of these houses that can be fixed, not just tearing them down,” Compton said. “There are so many houses that can be saved.”

“There are many ways to use this money, also for more law enforcement, education, tutoring, financial literacy for adults and homeownership programs that actually work.”

Slavic Village resident Ed McDonald, who has used his drone to film videos of distressed vacant homes for the past few years, believes federal pandemic relief funds should also be used to promote the growth of small businesses. businesses, especially along commercial corridors like Fleet Avenue.

“If you start pumping money into making some of these storefronts look good, and the insides of these buildings look beautiful, and you try to renovate them so they’re salable, we can have viable businesses. in this neighbourhood.”

Cleveland City Council Speaker Blaine Griffin said the city council is in ongoing contact with Mayor Justin Bibb and his administration to develop a final plan, which he says could be ready for a council vote in late August. or September. Griffin said the current draft plan is to be reduced to $53 million and could include up to $35 million in various forms of housing assistance.

“We have a catastrophe right now, we have a catastrophe in housing insecurity,” Griffin said. more stable and affordable housing, where they can become owners. There needs to be a sense of urgency to deal with the crisis.

Cleveland Ward 7 Councilwoman Stephanie Howse told News 5 that she hopes the final plan will focus on children, families and seniors.

“Also educationally, understanding that many of our children are several years behind and how to prepare them, not just for today but also for the future,” Howse said. “How are we thinking through our municipal services and even working with our county partners to re-engage our seniors in new and innovative ways.

In May, Bibb announced 10 priorities in the use of federal ARPA funding, including:

Stabilize the budget: The ARPA funds were primarily intended to help cities replace revenue lost due to the impacts of COVID-19.

Inclusive economic recovery: We are moving away from managing decline to making investments that drive growth in Cleveland neighborhoods that have been overlooked or excluded in the past.

Housing for all: Affordable housing and investments that stimulate wealth creation and home ownership.

Violence prevention and public safety: A comprehensive approach to public safety invests in initiatives that address the root causes of violence and crime. We need to invest in proven programs that focus on proactive intervention and prevention.

Bridging the digital divide: Thirty percent of residents do not have access to the Internet or reliable Wi-Fi or broadband services. We are committed to making targeted investments to bridge the digital divide and make internet access more affordable and accessible.

A Modern & Transparent Town Hall: Cleveland residents deserve a responsive city hall that embraces best practices in voter engagement. Achieving this requires investing in new technologies, services and process improvements.

Education for all: From newborns to adult learners, from students to CEOs, improving education is the foundation of our future. We must support learning at all ages, inside and outside the classroom to improve literacy rates, college readiness and work readiness.

Cleveland Unleaded: Cleveland faces a lead crisis. Nearly 90% of our housing stock was built before lead paint was banned. We must put an end to this public health emergency and make properties lead-free to ensure that no more children are affected by the dangers of lead exposure.

Neighborhood arts and amenities: Cleveland is a booming city and our arts, recreation, parks, cultural treasures and other amenities should reflect that.

Civic Participation Fund: Cleveland’s 17 neighborhoods can identify important neighborhood projects and advocate for change at the hyperlocal level in partnership with the city council.

By targeting churn in the payments space, Arcum seeks to expand ATL’s fintech landscape

The team behind Arcum Partners think the merchant services space is missing something quite critical. “For an industry that uses the word ‘services’, there is a huge lack of services”, co-founder Sebastien Buils explained to Hypepotamus.

The Atlanta-based team built an analytics platform to help payment processors better understand their merchants and why they might be looking for new solutions. The goal added by Builes is to tackle the massive churn problem in the payments space.

“Payments are pretty commoditized, so anyone can offer business credit card processing,” Builes said. “[Most businesses] don’t know too much about credit card processing. Their concern is to start the business and ensure that the customers are satisfied with the product. Credit card processing is one of the last items on their priority list. As a result, many traders are exploited.

In these cases, disgruntled merchants will eventually unsubscribe and seek another payment processor. Arcum helps payment companies leverage historical data and behavioral patterns surrounding their merchants to better predict future churn. That, Builes told Hypepotamus, can give a company time to repair that relationship before it loses that customer forever.

Targeting the payments space

Arcum Partners takes its name from the Latin word for bow, which was “the first ultra-targeted weapon developed by man,” Builes explained. “We thought Arcum would be the name because we leverage data to help our clients increase their bottom line, and ultimately create insights that increase overall profitability in a highly targeted way.”

While Arcum’s initial go-to-market strategy was focused on the small and medium-sized business market, it has become clear over the past few months that major players in the payments industry are looking for a solution to combat churn as early as now. Builes said it had “changed the whole timeline and type of customers” early-stage startup plans were considering in the near term.

This type of service could be particularly beneficial for players in the payments space looking to build customer loyalty in times of economic uncertainty.

“If we go into a recession, the churn rate will increase. I think a lot of large organizations have seen the writing on the wall and determined that they can’t wait for the recession to hit. They should start finding solutions now,” Builes said.

The Arcam team

Raised in Colombia and Florida, Builes received his bachelor’s and master’s degrees from Florida State University before moving to Atlanta. He first began looking at customer churn while working for a consulting firm that helped newspapers and other publications better understand their subscriber base. Builes then worked as a financial analyst at Evo Payments, a public financial services and payments technology company.

Arcum was born out of Builes’ experience in analytics and payments. He co-founded Arcum with Taohang (Tad) Zhang and Mikhail Dmitriev, Ph.D., a current FSU economics professor who has taught Builes at the undergraduate and graduate levels.

Zhang and Builes were colleagues at a consulting firm before they both entered the payments space.

The team was seeded for the first three years before raising a small circle of friends and family via WeFunder earlier this year.

Most recently, the team won the top prize in the Fintech South Innovation Challenge 2022.

The team may have been all smiles at Fintech South earlier this month, but they are quickly getting back to work and ready to scale the platform to prepare for bigger clients.

“Our solution tries to put the word service back into the industry. We’re able to work with processors and let them know when a customer is upset and why they’re upset, so they can ultimately improve that service or provide a better solution,” Builes said.

Featured photo courtesy of Arcum Partners. Photo from left to right: Co-founders Tad Zhang, Sebastian Builes, Mikhail Dmitriev

What is a merchant cash advance loan?

If you buy something through our links, we may earn money through our affiliate partners. Learn more.

Believe it or not, merchant cash advance (MCA) business loans are a great option for small business owners looking for quick and easy access to capital. They are an ideal financing solution for businesses that have been turned down for a traditional bank loan or don’t have time to wait for a business loan to be approved.

So what exactly is an MCA and how can it help your business? Keep reading to learn more.

What is a merchant cash advance loan?

A merchant cash advance loan is a type of financing that allows businesses to borrow money based on future credit card sales. The loan is repaid with a percentage of the company’s monthly credit card sales, making repayment easy and flexible.

Are merchant cash advances right for your business?

To qualify for a merchant cash advance, you will need to have credit card sales. The amount of money you can borrow will depend on your sales volume. Plus, you won’t need to have a business bank account to qualify. One of the biggest benefits of an MCA is that it can provide much-needed cash flow to your business.

Best Cash Advance Companies for Merchants

It can be difficult to find reputable cash advance providers for business loans. That’s why we’ve put together this list so you can find the best merchant cash advance company.

1. Fast Funding

With merchant cash advance provider Rapid Finance, you can get small business loans between $5,000 and $500,000 as long as you have a credit score of 550, have been in business for at least three months and you have $5,000 in monthly credit card sales.

2. Term financing

To obtain a loan between $5,000 and $300,000 with term financing, you will need at least $10,000 in monthly income and a credit score of 500+.

3. PayPal working capital

PayPal Working Capital is for select sellers who have had a Business or Premier account for at least three months. You can borrow up to $97,000 on your first advance without a credit check.

4. Capital CAN

To qualify for a loan from CAN Capital, you must have been in business for at least six months with an annual income of $150,000. You can borrow between $2,500 and $250,000 and receive funds in two business days.

5. Fundera by Nerdwallet

The qualifications to receive Fundera small business loans are a 550+ credit score, an annual income of $180,000 and a minimum of 2 years of time in business.

6. Funding Dependent

Reliant Funding will lend you up to $400,000 provided your business has been in operation for at least six months and averages $10,000 in monthly sales.

7. Libertas Funding

If you have been in business for at least six months, have an annual income of $150,000, and have a credit score of 550, Libertas Funding will lend you $7,500 to $1 million.

8. Credible

Credibly, you’ll lend up to $400,000 as long as you have a credit score over 500, have been in business for at least six months, and have $15,000 in monthly sales.

Merchant Cash Advance Requirements

Here are the conditions required to obtain an MCA loan, which are less strict than traditional loans:

  • Business Activities – You must have been in business for at least six months. This requirement is flexible, as some merchant cash advance companies will work with startups that have been up and running for three months.
  • Credit Card Transaction Volume – You must have a minimum monthly income of approximately $5,000. This requirement is also flexible since some lenders will work with businesses that have a lower volume but may charge a higher interest rate.
  • Credit Score Requirements – You must have a personal credit score of 500 or higher. Some lenders will work with borrowers who have a lower score, but this may increase the interest rate on your loan.
  • Repayment Method – You must agree to repay the loan by a percentage of your daily credit card sales. This is usually done through an automated redemption system, so you don’t have to worry about making manual payments.
  • No Red Flags – You must not have major financial issues, such as bankruptcy or foreclosure. If you are in financial trouble, you may still be able to get an MCA loan, but again the interest rate will be higher.

Benefits of taking a business cash advance

Cash flow is the lifeblood of any business, and business loans can give you the boost you need to move your business forward. Here are five benefits of taking out an MCA loan:

  • Flexible spending – You can use the money for business purposes, whether it’s buying inventory, hiring new staff, or covering unexpected expenses.
  • Fast Funding – You can get the money you need in as little as 72 hours, which is much faster than traditional bank loans.
  • Easy repayment – You can repay the loan with a percentage of your daily credit card transactions, so you don’t have to worry about fixed monthly payments.
  • No Collateral Required – You don’t need to post collateral to qualify for a merchant cash advance, so it’s ideal for businesses that don’t have any assets.
  • Bad credit? No problem – You can still qualify for a cash advance even if you have bad credit.

Disadvantages of taking merchant cash advance loans

While these loans can provide a much-needed cash injection, there are also some potential downsides that business owners should be aware of.

  • Can be expensive – An MCA loan is based on your daily sales, which means you’ll pay a higher percentage of your credit card payments on sales in interest and fees than with other types of loans.
  • Not Federally Regulated – MCA loans are currently not federally regulated, which means there is no industry standardization.
  • Repayment terms can be rigid – MCA loans usually have to be repaid within 6-18 months. If you are unable to make your payments on time, you may be charged additional fees or your loan may be sold to a collection agency.

What is a merchant cash advance used for?

A merchant cash advance is a type of financing that allows a business owner to borrow money based on future sales.

The amount that can be borrowed varies by lender, but is usually a percentage of the company’s monthly credit card sales.

Are merchant cash advances a good idea?

Merchant cash advances can be a good option for businesses that need funding quickly and don’t have access to traditional forms of financing.

However, merchant cash advances can also be expensive and can strain a business’ cash flow.

What is a merchant cash advance agreement?

It is an agreement between a company and a lender in which the lender provides the company with an initial sum of money in exchange for a percentage of future sales.

This arrangement is typically used by businesses that have difficulty qualifying for traditional loans.

Image: Envato Elements

Entrepreneurial Success: Cash Flow Management (III) – By: Musbahu El Yakub

In this series, we’ve covered the cash flow cycle so far, some key working capital and cash flow management terms, and the importance of careful cash flow management. We’ll finish the cash flow projection today and introduce some principles and practices for managing cash flow wisely.

Cash Flow Projection “Template”: A simple cash flow projection table for a small business will essentially consist of multiple rows and columns of cash receipts and payments. At the top are cash receipts which add to the total cash receipts for a period, say, a month or a year. Individual receipts may include cash sales receipts, debt collection, loan proceeds, etc. These are added together to give you the total cash inflow for the period. Below the rows and columns for cash inflows, you will have another set of rows and columns for cash outflows. Individual cash outflows may include purchases of materials and supplies, payment of wages and salaries, interest payments, principal loan repayments, etc. These are also added together to get the total outflows for the period. The total outflow (“B”, in the table below) is deducted from the total inflow (“A”, in the table below) to obtain the net cash at the end of a period. Net cash at the end of a period is carried forward to the beginning of the next period as opening cash.

It should be noted that the specific composition of sources of cash inflows and outflows may be unique to each company. Therefore, you must establish your own cash flow projection table to meet your own plans, requirements and realities. The table below is an example of what a simple cash flow projection table might look like.

There are several simple, free cash flow projection templates available on the Internet that can be adapted to meet your needs. However, if you have just learned how to develop a cash flow projection or are not yet proficient, I strongly suggest that you first learn how to build it manually and then move on to using Excel before you start using the adaptable templates on the Internet. Equally important, you can hire an accountant or business consultant to help you through the exercises until you fully understand what might go into the cash flow projection table, how, when, and which won’t. . This is very important so that you become very clear about what it takes to do the throws in various situations. Once you are very comfortable, you can start using the templates.

Principles and practices of sound cash flow management: I find three variables particularly important in the management of most businesses. These are profitability, cash flow and growth. In its simplest form, profitability is when your sales revenue is greater than all of the costs attributable to delivering your products or projects to your customers over a period of time. In the short term, a business can survive and even grow with little or no profitability as investors and creditors continue to provide needed cash. But that’s usually not sustainable in the long run. The immediate and long-term survival and growth of a business can only be sustained by being profitable and with positive cash flow. As is often said, cash is truly the lifeblood of a business. Some of the principles and practices of sound cash management include:

• You must be able to make intelligent and realistic projections about the economy, your industry, your business and the market.

• You must keep complete and accurate financial records. Specifically, you need to generate cash flow projections based on your plans, operational realities, and the market.

• You must remain mindful of the objective of maintaining positive cash flow even as you strive to maximize the profitability of your investments and operations.

• Be alert and prepared for periods of negative cash flow based on your projections. In such situations, you should either plan to cover the gap in advance or reduce some exits.

• Minimize credit sales and associated risks. When you must make sales on credit, you must have clear and firm policies and actions regarding credit control and debt collection.

• Evaluate your customers and limit trade credit to those who deserve it. Even if you do this, you should also ensure that you have contract documents to protect your interests.

• Always expedite collection of your receivables and be friends with your customers’ payment agents.

• Don’t wait for due dates to follow up on payments with your customers. Instead, start officially reminding them of upcoming payments days and weeks in advance!

• Negotiate to take advantage of your suppliers’ trade credits and delay payments within the time available to you, but certainly without default.

• Your operations and the technology you deploy should help you make it easier to receive payments.

• Establish a good relationship with your bank and make sure you get a backup line of credit.

• Monitor and reduce the tendency to tie up cash in inventory and even fixed assets.

• Consider and evaluate every investment and payment you make. Negotiate and get favorable payment and repayment terms that let you breathe easy.

• Safeguard your money with every payment you make and eliminate waste.

• Where appropriate, consider leasing rather than outright purchasing of assets.

• Regularly review your financial and cash position.

With these we finish this series and next week we will discuss Providing Leadership.

Latinos in Iowa were under pressure for risky loans. These 2 change that

Left: Toribio, Right: Ibarra

Since learning English in his youth, Jorge “Junior” Ibarra has often been called upon to translate for his Spanish-speaking parents.

Sometimes the stakes were low. At parent-teacher conferences, when his teacher said Ibarra was a frequent talker and got into trouble, “I would turn around and say, ‘Mom, she thinks I’m a good student,'” he said. – he says laughing.

Often, however, as children of non-native English speakers well know, the stakes were much higher.

When it came to buying a car or even a house, areas such as financing terms, interest rates, etc. – already a foreign language for some native speakers – were almost impossible for a child to understand, let alone transmit.

“I had no idea what I was translating,” recalls Ibarra. It was particularly difficult when his parents bought a house: “English-English real estate is difficult enough. But I was supposedly translating.

As Ibarra grew and began to invest in real estate himself, he realized that Spanish translators were still in short supply in such large transactions. And, more often than it should, it’s resulted in bad business.

Financial institutions seemed to take advantage of the language barrier – and the lack of full citizenship of their customers, in some cases – by inducing borrowers to accept riskier loans or terms. Ibarra talked about people he knew who were encouraged to buy houses under contract with interest rates that would increase every year, or predatory balloon clauses that imposed refinancing within a certain time frame, all of which weren’t not clearly explained.

“Unfortunately, some of my family members lost their homes because they probably had this 12 or 13-year-old translator, and they didn’t know what they were buying,” Ibarra said.

In 2014 he started Ibarra real estate group, a Des Moines-based team at real estate brokerage Keller Williams that not only treated these types of clients fairly, but actually spoke their language. It was the first place in Iowa, and a rarity nationwide, that focused exclusively on non-Native Latino residents who were on the path to citizenship.

“You can still buy a house as long as you file taxes,” Ibarra said. “It’s been a game-changer because you don’t have to buy under contract anymore if you don’t want to, and it really creates a tremendous opportunity for immigrant communities.”

Now immigrants like Ibarra’s parents could buy houses fairly. But they also wanted to start their own business, not only to live, but also to prosper. Here, too, they faced problems.

“First and foremost, there are no loans” at all on the business side, Ibarra said. This meant that would-be business owners racked up tens of thousands of dollars just to clear the first hurdle to opening or expanding their business.

And when they finally saved enough for a lease, “they were taken advantage of,” Ibarra said, just like on the residential side. “They signed leases (where) they didn’t know what they were signing.”

This is where Manny Toribio comes in.

Toribio has experience and relationships on the government side, working for and with cities and learning the ins and outs of applying for small business loans and tenant law. He and Ibarra first connected with the board of the Latino Center of Iowa and realized they could combine forces for good.

“Is (this) type of business allowed? What would be the requirements? What about fire escapes or landscaping?” says Toribio. be thoughtful and communicated to them, because sometimes when they just see a contract to sign the lease… they’re going to burn that the first year with things that they didn’t know they were going to come in.

The two real estate professionals, along with COO Ryan Cahoy, are already seeing results on their new 25-person project, just six months old. Recently, they reported helping Mariela Maya, owner of popular Peruvian restaurant Panka in Des Moines, prepare to open a second location, Panka Peruvian Chicken.

“She is now in the final stages of opening up,” Toribio said. “We learned a lot with her, she learned a lot with us.”

Maya, herself a former real estate broker, said she was referred to Ibarra Realty Group. She said the pair were “great, very helpful and professional” and noted that she had recommended them based on their attentiveness.

“It’s very important that if you need them they are able to answer your questions, and they were there the whole time trying to help you, and that’s important,” Maya said. “They’re not like, ‘I’ll call you back,’ and then never call back.”

At conferences in more Latino-heavy places like Dallas, Ibarra answers questions from like-minded realtors who want to tap into the fast-growing new Latino market. He and Toribio have also worked with credit unions, which they say seem much more willing than traditional banks to try new ways to adequately fund underrepresented populations.

“Everyone is just surprised that this is happening, at this level, in Des Moines,” Toribio said.

It’s a struggle, both acknowledge. But they intend to do it right and take advantage of a large exponentially growing market.

“The purchasing power of Latinos goes like this,” Ibarra said, arm raised. “Big, big companies pay attention, do what they have to do, and hire a lot of bilingual or Latino talent. But when I see the commercial world of real estate, we are in the infancy in this regard to be able to provide good services and products to entrepreneurs.

By Amie Rivers

Do you have a story idea for me? Send an email to [email protected] I am also available by SMS, WhatsApp and Signal at (319) 239-0350, or on Twitter at @amierrivers.

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Why Trusted Executions Will Be an Integral Part of Proof-of-Stake Blockchains

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Since the invention of Bitcoin, we have seen a tremendous influx of computing creativity into the open community. Despite its obvious success, Bitcoin has several shortcomings. It’s too slow, too expensive, the price is too volatile, and the transactions are too public.

Various cryptocurrency projects in the public space have attempted to address these challenges. There is particular interest in the community to solve the scalability challenge. Bitcoin’s proof-of-work consensus algorithm only supports seven transactions per second. Other blockchains such as Ethereum 1.0, which also relies on the proof-of-work consensus algorithm, also show poor performance. This has a negative impact on transaction fees. Transaction fees vary depending on the amount of traffic on the network. Sometimes the fees can be less than $1 and sometimes more than $50.

Proof of work blockchains are also very energy intensive. As of this writing, the Bitcoin creation process consumes approximately 91 terawatt hours of electricity per year. That’s more energy than that used by Finland, a country of about 5.5 million people.

Although some of the commentators see this as a necessary cost to protect the whole financial system securely, rather than just the cost of running a digital payment system, there is another part that thinks this cost could be eliminated by developing proof-of-stake consensus protocols. Proof-of-stake consensus protocols also offer much higher throughputs. Some blockchain projects aim to deliver over 100,000 transactions per second. At this level of performance, blockchains could rival centralized payment processors like Visa.

Figure 1: Validators

The move towards a proof-of-stake consensus is quite significant. Tendermint is a popular proof-of-stake consensus framework. Several projects such as Binance DEX, Oasis Network, Secret Network, Provenance Blockchain and many others use the Tendermint framework. Ethereum is becoming a proof-of-stake network. Ethereum 2.0 is expected to launch in 2022, but the network already has over 300,000 validators. Once Ethereum makes the transition, it is likely that several blockchains based on the Ethereum Virtual Machine (EVM) will follow. Additionally, there are several non-EVM blockchains such as Cardano, Solana, Algorand, Tezos, and Celo that use proof-of-stake consensus.

Proof-of-stake blockchains introduce new requirements

As proof-of-stake blockchains take hold, it’s important to dig deeper into the changes that are taking place.

First, there is no more “mining”. Instead, there is “staking”. Staking is a process of staking native blockchain currency to gain the right to validate transactions. The staked cryptocurrency is rendered unusable for transactions, i.e. it cannot be used to make payments or interact with smart contracts. Validators that stake cryptocurrency and process transactions earn a fraction of the fees paid by entities that submit transactions to the blockchain. Staking yields are often in the range of 5% to 15%.

Second, unlike proof-of-work, proof-of-stake is a voting-based consensus protocol. Once a validator stakes cryptocurrency, they commit to staying online and voting on transactions. If for some reason a significant number of validators go offline, transaction processing will completely stop. This is because a super-majority of votes is needed to add new blocks to the blockchain. This is quite different from proof-of-work blockchains where miners could come and go as they pleased, and their long-term rewards would depend on how much work they put in while participating in the consensus protocol. In proof-of-stake blockchains, validating nodes are penalized and have a portion of their stake stripped if they don’t stay online and vote on transactions.

Figure 2: Honest vote vs. dishonest vote.

Third, in proof-of-work blockchains, if a miner misbehaves, such as trying to fork the blockchain, they end up hurting themselves. Mining above an incorrect block is a waste of effort. This is not true in proof-of-stake blockchains. If there is a fork in the blockchain, a validator node is actually incentivized to support both the mainchain and the fork. This is because there is always a small chance that the forked chain will turn out to be the main chain in the long run.

Punishing Bad Blockchain Behavior

Early proof-of-stake blockchains ignored this problem and relied on validator nodes participating in consensus without misbehaving. But that’s not a good assumption to make in the long run, and so the new designs introduce a concept called “slashing.” In the event that a validator node observes that another node has misbehaved, such as voting for two separate blocks at the same height, then the observer can cut off the malicious node. The slashed node loses some of its staked cryptocurrency. The magnitude of a mined cryptocurrency depends on the specific blockchain. Each blockchain has its own rules.

Figure 3: Misbehaving validators are slashed by other validators for reasons such as “attestation rule violation” and “proponent rule violation”

Fourth, in proof-of-stake blockchains, misconfigurations can lead to outages. A typical misconfiguration is where multiple validators, which may be owned or operated by the same entity, end up using the same key to validate transactions. It’s easy to see how this can lead to cuts.

Finally, the first proof-of-stake blockchains had a strict limit on the number of validators who could participate in the consensus. Indeed, each validator signs a block twice, once during the protocol preparation phase and once during the validation phase. These signatures add up and can take up a lot of space in the block. This meant that proof-of-stake blockchains were more centralized than proof-of-work blockchains. This is a serious problem for proponents of decentralization, and as a result, new proof-of-stake blockchains are moving towards new cryptosystems that support signature aggregation. For example, the Boneh-Lynn-Shacham (BLS) cryptosystem supports signature aggregation. Using the BLS cryptosystem, thousands of signatures can be aggregated such that the aggregated signature takes up the space of a single signature.

How Trusted Execution Environments Can Be Integral to Proof-of-Stake Blockchains

While the core philosophy of blockchains revolves around the concept of non-trust, trusted execution environments can be an integral part of proof-of-stake blockchains.

Secure management of long-lived validation keys

For proof-of-stake blockchains, validation keys must be managed securely. Ideally, these keys should never be available in plain text. They must be generated and used in secure execution environments. Additionally, reliable runtime environments must ensure disaster recovery and high availability. They must be always online to respond to requests from validator nodes.

Secure execution of critical code

Today’s trusted runtimes are capable of more than secure key management. They can also be used to deploy critical code that operates with high integrity. In the case of proof-of-stake validators, it is important that conflicting messages are not signed. Signing conflicting messages can lead to economic penalties under several proof-of-stake blockchain protocols. Code that tracks the state of the blockchain and ensures that validators do not sign conflicting messages must be executed with high integrity.


The blockchain ecosystem is changing in very fundamental ways. There is a big shift towards using proof-of-stake consensus as it offers higher performance and a lower energy footprint compared to a proof-of-work consensus algorithm. This is not a negligible change.

Validator nodes must remain online and are penalized if they go offline. Managing keys securely and always online is a challenge.

To make the protocol work at scale, several blockchains have introduced penalties for misconduct. Validator nodes continue to suffer these penalties due to misconfigurations or malicious attacks against them. To retain the large-scale distributed nature of blockchains, new cryptosystems are being adopted. Reliable runtime environments that provide disaster recovery, high availability, support for new cryptosystems such as BLS, and enable execution of custom code with high integrity are likely to be integral to this shift from proof of work to proof of stake. blockchains.

Pralhad Deshpande, Ph.D., is a Senior Solutions Architect at Fortanix.


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Western Sydney United braces for more strikes after failed talks

WSU strike for better pay for staff on June 7. Photo: provided.


Western Sydney University (WSU) is preparing to continue fighting for fair pay, after a motion was passed at a recent WSU union meeting to “prepare for further strike action”.

The WSU branch of the National Union of Higher Education (NTEU) has decided to strike “as early as possible in the spring semester, and for various types of actions and more limited campaign activities in the period between semesters. “.

The motion also states that these activities will continue “unrelentingly until a result of decent remuneration is achieved”.

NTEU WSU branch president David Burchell said he was interested in thinking about “creative ways to play with the university’s chief executives.”

Talk to crossroads of the city, WSU occasional scholar Dr. Cali Prince said it could involve “creative approaches, as well as social media strategies with other actions on the ground.”

A full list of speakers during the WSU strike earlier this month

Dr. Burchell and Dr. Prince both attended an NTEU-organized strike at WSU on June 7, during which staff and the WSU College rallied to lobby for better pay and security. employment.

Dr Prince spoke during the strike, highlighting the prevalence of precarious work in Australian universities even though (quoting NSW NTEU Secretary Damien Cahill) “much of the work done by casual staff is not of an occasional nature”.

She spoke of the significant financial hardship casual scholars at the University of Western Sydney have faced, including the lack of job security, where many “struggle to make a living”. She added that it was common to see “casual workers doing unpaid work, with precarious work, treated like second-rate labour”.

Dr Prince notes that WSU Vice Chancellor and President Professor Barney Glover has previously committed United Nations Sustainable Development Goals, which includes a commitment to address inequality.

“The University of Western Sydney must and can do better. If the University is truly committed to the United Nations Sustainable Development Goals in a continuous and sustainable manner, these issues can no longer be ignored,” said Dr Prince.

University of Western Sydney staff

Western Sydney University staff dressed as a cow to protest over pay at WSU. Photo: provided.

Labor Senator Tony Sheldon and Green Senator Mehreen Faruqi also spoke at the event, criticizing WSU’s current approach and expressing hope for the future of higher education with the recent change in government.

“Here at Western Sydney University, we see why corporate university management has the nerve to offer only a 2% pay rise when inflation is 5.1%,” said Ms. Sheldon.

“At a time when families are grappling with mounting grocery bills, Barney Glover University management has tabled an offer that would set back its own workforce in real terms.”

Dr Prince described the strike as a “creative, engaged, creative, lively and diverse gathering”.

She said city ​​hub that the exploitation of casual workers was “unacceptable”, and that it was important for her to say “no” to universities that erode working conditions, “no” to the increasingly invisible or hidden force of precariousness, and ‘no’ to the exploitation of casual workers”.

Looking ahead, Dr Prince believes that future strikes will be “necessary and are in the works”.

“Never underestimate how small creative disruptions, incremental over time, can create significant effects.”

The union is still in negotiations with the WSU

Dr Burchell said the union was still working on a company bargaining agreement with WSU, after the deal had been in the works for more than 12 months.

He said some clauses in the agreements that were “not yet resolved” were in most cases “pretty close to resolution”, with the exception of the compensation clauses.

Dr. Burchell condemned an offer of a salary increase proposed by the management of the university as “totally insufficient”, representing “only 2.6% [pay rise] for most staff, and no more than 2.9% for any staff.

He further stated that “the proposal to cut the occasional conversion program by 50% would render such a program completely inoperative”.


A cake made for the WSU strike, saying “The Western Budget Stuff Staff”. Photo: provided.

The strike follows a similar action in University of Sydneywhere a three-day protest resulted in a 2.1% pay rise and a one-time payment of $1,000 for staff.

Similar to the University of Sydney’s massive surplus in 2021, Western Sydney University reported a surplus of $143 million, nearly double the amount from the previous year.

The announcement of the continuation of the strike by the WSU came just days before the Fair Work Ombudsman announced that the remuneration of University staff would be a main priority of its 2022/2023 surveys.

South African tech startup Yellow raises $23m

South African startup Yellow raised $23 million in debt financing. The funding round was led by London-based investment bank Lion’s Head Global Partners.

Yellow was founded in 2018 to provide technology-driven energy finance products to low-income households in Africa. To date, it has provided electricity on a pay-as-you-go basis to 30,000 homes in Malawi and Uganda, where the company specializes in providing asset-backed finance to households in underprivileged areas. served that lack access to electricity, financial services and connectivity. .

The capital injection comes nearly two years after Yellow raised $3.3 million from institutional investors in a Series A funding round. Previous investors include Triple Jump, SunFunder, SIMA and Trin.

The new funds will be used to support the company’s growth in Malawi and Uganda, where the company hopes to reach 100,000 customers. It will also be used to help Yellow expand into alternative and vertical markets.

“We were delighted to close our Series A in May 2020, this funding along with debt facilities from our new partners gives us the resources we need to serve at least one million additional people,” said Ross Thompsonfinancial director of Yellow.

In general, the shape of the investment landscape in Africa is mixed. Although venture capitalists invested a record $5.2 billion in the continent in 2021, this was largely due to a small number of large investments in Nigerian FinTechs like Flutterwave.

Earlier this year, PYMNTS reported on a lack of seed funding on the continent. The founders, in particular, have struggled to attract investment. Last year, female founders received just 0.7% of all startup fundraising on the continent, or $18 million out of nearly $2.7 billion.

More on this: Africa’s VC ecosystem: lack of seed funding, challenging landscape for female tech founders



About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

Which celebs spent the most on wedding dresses – from Ariana Grande to Kim Kardashian

For anyone curious about what the rich and famous spend on their wedding dresses, a new study reveals it all.

From the jeweled cape of Serena Williams to the hand-sewn lace worn by the British royal family, researchers at financial firm Merchant Cash Advance have taken a look at the most expensive celebrity designs worn.

Here we reveal the biggest spenders, ranked from lowest to highest, with prize money running into the millions.

Ariana Grande

For her wedding in 2021, singer Ariana Grande spent $150,000 on her custom dress by Vera Wang. When the singer married Dalton Gomez, she wore a strapless white silk charmeuse empire waist dress with a sculpted neckline. The back was low cut and she paired it with a shoulder length veil, topped with a satin bow.

Meghan, Duchess of Sussex

FILE PHOTO: Prince Harry and Meghan Markle leave St George's Chapel at Windsor Castle after their wedding.  Saturday May 19, 2018. Neil Hall/Pool via REUTERS/File Photo

The dress Meghan, Duchess of Sussex wore to marry Prince Harry was made by Clare Waight Keller at Givenchy and cost $265,000.

For the 2018 wedding, the Duchess of Sussex’s dress, which was made in just five months and in the greatest secrecy, was made with silk, with three-quarter length sleeves and a bateau neckline. It had a three-layer petticoat but was only made in six pieces.

Left completely plain, the decoration has been kept to the five-metre-long veil, which has been hand-embroidered with flowers representing the Commonwealth countries, Wintersweet, which is a flower in the garden of Kensington Palace, and the poppy of California, representing the Duchess’ home state.

At three meters wide, the veil also featured sheaves of wheat, a symbol of prosperity, and took over 500 hours to sew, far longer than the dress itself. The veil also reportedly contained a piece of fabric from the blue dress she wore when she first met Prince Harry.

Amal Clooney

magazine cover

For her 2014 fairytale wedding to George Clooney, human rights lawyer Amal Clooney wore a $380,000 dress custom made by designer Oscar de la Renta himself. Crafted from ivory tulle, the off-the-shoulder dress was adorned with 12.8 yards of Chantilly lace and the bodice was covered in hand-embroidered beads and crystals. It was cut with a waterfall in the back and is historic not only for the woman who wore it, but also as the last dress de la Renta worked on before her death.

Kate, Duchess of Cambridge

Prince William and his wife Kate, Duchess of Cambridge, stand outside Westminster Abbey after their wedding in London April 29, 2011. AP

In what is arguably one of the most famous wedding dresses in the world, Kate, Duchess of Cambridge married Prince William in 2011 wearing a hand-embroidered gown by Alexander McQueen’s Sarah Burton.

Costing an estimated $434,000, it was entirely covered in handmade lace and dotted with embroidered thistles, daffodils, shamrocks and roses, to echo the four nations of the UK. It also had a train of 2.7 meters.

Seamstresses working on the smock had to wash their hands every 30 minutes to ensure the fabric remained clean and the needles were replaced every three hours, to ensure they were sharp and precise.

A statement released on behalf of the Duchess said she chose the British design house “for the beauty of its craftsmanship and its respect for traditional craftsmanship and the technical construction of garments”.

Kim Kardashian

Kim Kardashian and Kanye West walk down the aisle.  Photo: E!  Entertainment Television

To marry Kanye West in 2014, Kim Kardashian wore a custom couture dress by her friend Riccardo Tisci for Givenchy, which cost $500,000.

The fitted swing dress was covered in lace and had a sheer back and sleeves. A pearl-studded sash cinched the bride’s waist, and the entire look was covered in a floor-length veil.

Victoria Swarovski

Victoria Swarovski wore a Michael Cinco dress to marry Werner Muerz in June 2017. Getty Images

Victoria Swarovski, of the famous crystal company, chose Dubai designer Michael Cinco to create her haute couture dress, which cost $1 million.

The dress, with a sheer, beaded bodice and sleeves, and full skirt was encrusted with 500,000 crystals – each applied by hand – and came with an eight-meter train. The sheer number of crystals used meant the entire look weighed in at over 45 pounds.

Serena Williams

Serena Williams in her Alexander McQueen wedding dress and hand-beaded sheer cape.  Photo: Serena Williams

Tennis star Serena Williams spent the most on her wedding look, shelling out $3.5million for a princess dress, complete with hand-beaded sheer cape and jewellery.

For the 2017 wedding to Reddit co-founder Alexis Ohanian, Williams wore a dramatic white strapless ballgown, complete with a huge skirt, which was covered in a hand-beaded sheer cape. Custom made by Sarah Burton for Alexander McQueen, Williams credited vogueIt was Anna Wintour who helped her find her perfect dress.

On social media, Williams wrote, “When Anna Wintour asked me what I wanted to wear, I said, ‘A cape. I just want to wear a cape. She said, ‘Well, Sarah Burton with Alexander McQueen is the one for you.” Thank you Anne. Thank you Sarah. I felt like a princess and a superwoman at the same time.

Updated: June 25, 2022, 06:10

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Janet Mills allocates $8 million in COVID-19 relief funds to help lobster fishermen

Governor Janet Mills is committing more than $8 million in federal COVID-19 relief funds to Maine’s lobster and aquaculture industries as they grapple with inflation and supply chain issues.

With bait and boat fuel prices rebounding to record highs and lobster prices down from last year’s levels, lobsters say 2022 is not looking good.

“We’re going to have to see a much better price per pound for lobsters just to cover the expense,” says Jeff Putnam, a fisherman from Chebeague Island whose harvests include lobster, scallops, menhaden and oysters.

Putnam says he’s offset some costs by catching his own bait, but maybe not enough to offset how tightly consumers seem to be holding their wallets this year.

“I think consumer sentiment is at pretty low levels right now. I’m very nervous about how we’re going to go this year. I think the expenses are going to eat up the earnings too much to really make a good year,” he said. said.

Mills is trying to ease the pain with $8.3 million to repay license and locker tag fees, and to pay similar expenses for dealers, processors and aquaculture businesses.

“It puts money back in the pockets of Maine fishermen, aquaculturists and traders to help offset growing business expenses, hoping to bring them a little relief,” Mills said in a news release.

Putnam welcomed the move, though he also said that instead of a one-time payment, the state should work to reduce the annual cost of trap tags. Those revenues fund lobster marketing campaigns and, under a new law, will help the industry pay legal fees to fight federal rules aimed at protecting endangered right whales.

Putnam estimates he will receive about $3,000 from the government. He adds that this is roughly equivalent to what he shelled out this year for the equipment he needed to comply with the new federal rules.

Holt calls for more investment in minority businesses

Kindred Spirits bar and community gathering space is one of the businesses operating in the EastPoint development in the 1700 block of NE 23rd Street. (Courtesy of Photo/Kind Spirits)

OKLAHOMA CITY — Oklahoma City is making intentional investments to ensure minority-owned small businesses have the resources they need to grow and thrive, but there’s still a lot of work to do.

Persistent racial and geographic disparities and generational poverty continue to limit people of color’s access to business credit, investment capital and mentorship, Mayor David Holt wrote in a recent opinion piece in The Hill. , co-authored by Levar Stoney, Mayor of Richmond, Virginia.

Both mayors highlighted the investments their cities have made to address disparities. “This will not only empower these entrepreneurs, but strengthen our entire economy for years to come,” they said. wrote.

“Oklahoma City is moving in the right direction with the investment commitment, but there are still gaps,” said black business owner Quintin Hughes, noting that only 2% of small business owners are black. Meanwhile, the US Census reports that 14% of the city’s residents are black.

“There really is an opportunity for growth there,” Hughes said. “I am optimistic about the investment we have committed to and the possibility of achieving parity. The concern is that we continue to invest in it and even more.

Hughes is co-owner of Kindred Spirits, a bar and gathering space in the EastPoint development. EastPoint is in the 1700 block of NE 23rd Street, which was once a bustling commercial corridor.

It took more than a year for Hughes and his business partners to secure the $100,000 financing needed for their project because the location was on the east side, where lenders had avoided investing for decades, a he declared.

Years of divestment and the resulting economic situation in the region have made it nearly impossible to convince lenders that a project there might be viable, Hughes said.

In fact, EastPoint developer Jonathan Dodson said 26 banks refused to fund the development before Citizens Bank of Edmond agreed.

Dodson’s Pivot Project Development purchased two buildings totaling 38,000 square feet. The first became the new home of Centennial Health, a community clinic. The first tenant in the second building was Intentional Fitness, followed by Kindred Spirits. The complex is also home to The Market at Eastpoint.

Pivot granted an equity interest in the project to EastPoint tenants. Those who sign a 10-year lease have 15% ownership of their spaces.

This is the kind of community building that Northeast OKC Renaissance Inc. members advocate, Hughes said. The group’s goal is interior development to improve the quality of life for residents of northeast Oklahoma City through economic prosperity and the preservation of cultural traditions.

EastPoint’s success will make it easier to secure funding for future projects in the area, but there are concerns about what those projects might be, Hughes said.

“The fear in our community is displacement, the fear of cultural erasure,” he said, “essentially what Deep Deuce is today.”

The once predominantly African-American downtown neighborhood has been revitalized to the point that black-owned and operated businesses have been depleted.

“A big opportunity here is to learn from communities across the country that have suffered from gentrification,” Hughes said. “We want people here to take advantage of economic opportunities. We seek an ally rather than an exploitation.

One example of Oklahoma City’s investment in minority-owned small businesses was the creation of the Small Business Continuity Program, using federal relief funds to help businesses overcome challenges caused by COVID-19.

The OKC Rescue Program provides small business owners and nonprofit organizations with 100 or fewer full-time employees a second round of financial support to cover business services such as marketing, accounting, or business planning. , exterior facade improvements or COVID-19 mitigation expenses such as outdoor ventilation and seating.

Hughes, who works asstrategic advisor for community development at Echo Investment Capital, said the company had “shown its willingness to put its money where it is”.

“My role allows me to create impact investment funds focused on real estate and small business development in northeast Oklahoma City,” he said.

Part of the solution is educating entrepreneurs about alternative access to capital and venture capital opportunities, Hughes said. The future of the city The Henrietta B. Foster Center for Small Business Development and Entrepreneurship of the Northeast will be an important part of the education process, he said.

MAPS 4 includes $15 million for the center, which will focus on minority and disadvantaged small businesses.

“This town will be in a better place in five years, 10 years, 20 years,” Hughes said.

Is Adyen a buy? | The Motley Fool

The global card payment market is expected to grow rapidly in the coming years. According to Nilson Report, a credit card data service, the global volume of card payments will reach $52.4 trillion by 2026, and for every transaction there must be a payment processor. Therefore, with the rapid evolution of digital payments, payment processors have a huge opportunity to thrive.

Adyen (ADYE.Y 1.91%) is an attractive choice in this market. Although many investors may not be familiar with the company, if you’ve ever bought a burger from McDonald’s or paid for your Spotify subscription with a debit card or digital payment method, you used Adyen, which is based in Amsterdam. With stocks around 60% below their all-time highs, should you add this payment processor to your portfolio?

Image source: Getty Images.

Adyen stands out

Adyen’s main sources of revenue are its processing and settlement fees, which the company gets when traders initiate a transaction or complete one on its platform. However, the company also has risk management and digital card issuance services to ease friction for merchants.

This complete offer attracted a lot of attention. As a result, the company processed more than €516 billion (about $540 billion) in total payment volume (TPV) in 2021. That said, Adyen faces fierce competition from behemoths like PayPal (PYPL -0.73%) and To block (SQ 3.44%)as well as pure games like Stripe.

However, Adyen has a competitive advantage that has enabled it to catch up with some of its rivals: it is the leader in low-cost. Instead of increasing its acceptance rate as consumers push more volume through its platform, Adyen lowers this. This incentivizes its customers to make Adyen their primary processing platform. In 2021, Adyen’s take rate was just 19.4 basis points, down 14% year-over-year, as it gained additional volume.

Catch up with the competition

This low-cost differentiator has worked well for the company in recent years. Remember when eBay abandoned PayPal as the main payment platform in 2018? It was in favor of Adyen. Recently, it has caught up with the big dogs in the payment processing industry. In 2021, the volume processed by the company grew by 70% year-over-year, a rate well above PayPal’s POS growth of 33% over the same period.

This helped boost revenue to €1 billion in 2021, a 48% year-on-year gain. In the medium term, Adyen hopes to grow revenue at a compound annual growth rate of 20-30%, far exceeding PayPal’s projected 12% revenue increase in 2022.

Although Stripe is likely growing much faster than PayPal, it is a private company, so its finances are unknown. However, Stripe’s estimated revenue in 2020 was $7.4 billion and grew 70% year over year, according to the the wall street journal.

What could go wrong

In terms of risks, the most important is fierce competition. That said, Adyen is growing fast and springing cash, which could help it invest much faster than its rivals. In 2021, Adyen posted a strong EBITDA (earnings before interest, tax, depreciation and amortization) margin of 63% and generated nearly €567 million of free cash flow.

Adyen is a global company with revenues from around the world, but nearly 60% of its revenue comes from Europe, the Middle East and Africa, and 23% from North America. The United States and many economies in Europe are experiencing higher inflation and higher interest rates, which could lead to slower economic activity. Since Adyen makes money on trading volume, this could hurt the business in the short term.

The final concern is valuation. Adyen is trading at 73 times earnings, a high multiple. However, the company might not focus on profitability but on generating cash to fuel long-term adoption. Therefore, a valuation based on free cash flow is more insightful – and on this front, Adyen is trading at an attractive 20x free cash flow.

Is Adyen a buy right now?

If the company can continue to persuade companies to move more of their payment volume to Adyen, then the company could see long-term success. With its breathtaking cash flow, Adyen has more than enough cash to continue building a more innovative and attractive platform for businesses. However, if the company’s pick rate continues to decline without an increase in processed volume, this would be of concern.

While Adyen isn’t a risk-free investment, there’s enough to like about the company to at least put it on your watch list. There is strong competition, but the company has its own competitive advantages. For this reason, I think Adyen is worth buying right now.

Spryker, FarEye partner for last mile delivery

FarEye, a software-as-a-service (SaaS) platform focused on last-mile logistics challenges, and Spryker, a B2B enterprise digital commerce platform, on Tuesday (June 21st) announced a partnership to integrate the platform. form FarEye’s smart delivery and Spryker’s digital commerce operating system.

“Speed ​​and the overall delivery experience are top priorities when it comes to retaining and satisfying consumers. This partnership will enable B2B, B2C and enterprise markets to quickly build a modular e-commerce platform, fulfill orders with the highest efficiency and deliver a superior experience to end consumers,” said Amit Bagga. , chief revenue officer at FarEye, in a prepared statement. .

The value proposition of the collaboration is that merchants will be able to deliver a customer experience that can be closely modified at every stage, from initiating a purchase to receiving a delivery, according to the announcement. Between FarEye and Spryker, the companies serve businesses such as “big and bulky”, manufacturing, grocery, industrial machinery, hardware, electronics and markets.

FarEye, according to the company, improves deliveries and “leverages millions of data points” to plot efficient routes for shipments and speed up the overall delivery process.

See also: Soaring logistics costs threaten high street business profits, optimism

“Companies around the world are grappling with the complexity of last-mile delivery logistics for their business offerings. FarEye’s delivery capabilities combined with Spryker’s expertise in sophisticated digital commerce will bring tremendous competitive advantage to our customers globally, said Manishi Singh, Senior Vice President of Application Composition Platform at Spryker, in a prepared statement.

Spryker said it works with more than 150 customers in 200 countries. FarEye said it has more than 150 customers in 30 countries. The company calls itself a “composable digital commerce platform.” Composable applications are created to easily allow integration of software from many vendors.



About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

Today’s Mortgage Rates: Broadly Stable Since Friday | June 21, 2022

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

Based on data compiled by Credible, mortgage refinance rate have been mixed since Friday.

Rates last updated on June 21, 2022. These rates are based on the assumptions presented here. Actual rates may vary. With 5,000 reviews, Credible maintains an “excellent” Trustpilot score.

What does that mean: At 5.250%, the 15-year and 10-year rates will lower interest costs over the life of a loan. But homeowners who want a longer repayment term can still save with 30- and 20-year rates, which are still lower than rates on other home improvement financing options like a credit card or personal loan.

Today’s Mortgage Rates for Buying a Home

According to data compiled by Credible, mortgage rates for buying a home have been largely flat since Friday, with the exception of 30-year rates, which rose slightly.

Rates last updated on June 21, 2022. These rates are based on the assumptions presented here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot reviews with an average rating of 4.7 stars (out of a possible 5.0).

What does that mean: After peaking immediately after the Fed’s interest rate hike on June 14, today’s mortgage rates mostly remained at Friday’s levels. Only 30-year interest rates rose slightly to 6%. Buyers who can make a larger monthly mortgage payment will realize the most interest savings with shorter repayment terms. Those looking for more time to pay off their mortgage could consider 20-year rates, which have remained stable below 6% since Friday.

To find great mortgage rates, start by using Credible’s secure website, which can show you current mortgage rates from multiple lenders without affecting your credit score. You can also use Credible’s mortgage calculator to estimate your monthly mortgage payments.

How mortgage rates have changed over time

Current mortgage interest rates are well below the highest average annual rate recorded by Freddie Mac – 16.63% in 1981. A year before the COVID-19 pandemic upended economies around the world, the mortgage rate he average interest on a 30-year fixed rate mortgage for 2019 was 3.94%. The average rate for 2021 was 2.96%, the lowest annual average for 30 years.

The historic decline in interest rates means that homeowners with mortgages from 2019 could potentially realize significant interest savings by refinancing with one of today’s lowest interest rates. When considering a mortgage or refinance, it’s important to consider closing costs such as appraisal, application, origination, and attorney’s fees. These factors, in addition to the interest rate and loan amount, all contribute to the cost of a mortgage.

Are you looking to buy a house? Credible can help you compare current rates from multiple mortgage lenders both in minutes. Use Credible’s online tools to compare rates and get prequalified today.

Thousands of Trustpilot reviewers rate Credible as “excellent”.

How Credible Mortgage Rates Are Calculated

Changing economic conditions, central bank policy decisions, investor sentiment and other factors influence the movement of mortgage rates. Credible’s average mortgage rates and mortgage refinance rates shown in this article are calculated based on information provided by partner lenders who pay compensation to Credible.

The rates assume a borrower has a credit score of 740 and is borrowing a conventional loan for a single-family home that will be their primary residence. Rates also assume no (or very low) discount points and a 20% deposit.

The credible mortgage rates listed here will only give you an idea of ​​current average rates. The rate you actually receive may vary depending on a number of factors.

How does the Federal Reserve affect mortgage rates?

The Federal Reserve System – or “the Fed”, as it is commonly known – is the central bank of the United States. It is responsible for taking measures to ensure the security, stability and flexibility of the economy. Therefore, the Fed controls the US money supply and short-term interest rates and sets the federal funds rate, which is the rate banks charge when borrowing from each other overnight.

But the Fed doesn’t actually set mortgage rates. On the contrary, several things the Fed does influence mortgage rates. For example, although mortgage rates do not reflect the federal funds rate, they tend to follow it. If this rate increases, mortgage rates generally increase in tandem.

The Fed also buys and sells mortgage-backed securities, or MBS — a set of similar loans that a large mortgage investor buys and then resells to investors in the bond market. When the Fed buys a lot of mortgage-backed securities, it creates demand in the market and lenders can make money even if they offer lower mortgage rates. Rates therefore tend to be lower when the Fed is buying a lot.

When the Fed buys less MBS, demand will fall and rates will likely rise. Similarly, when the Fed raises the federal funds rate, mortgage rates will also rise.

If you’re trying to find the right mortgage rate, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see pre-qualified rates in just minutes.

Do you have a financial question, but you don’t know who to contact? Email The Credible Money Expert at [email protected] and your question may be answered by Credible in our Money Expert section.

As a credible authority on mortgages and personal finance, Chris Jennings has covered topics like mortgages, mortgage refinance, and more. He was a publisher and editorial assistant in the online personal finance space for four years. His work has been featured by MSN, AOL, Yahoo Finance, etc.

The Integrated Funding Opportunity for Marketplaces and Gig Platforms

The United States will have more than 86 million gig workers by 2027, and 50% of online spending will take place in marketplaces by 2030. In Europe, 28 million workers are active on gig platforms and this is expected to double by 2030. The rise of gig economy markets has led to increased competition in the space. Gone are the days when Uber was the default choice for booking a taxi or Booking.com for booking a room.

Market places have become commonplace. The breakthrough to retain suppliers and customers in the long term is to add value-added ancillary services, which could arguably be the easiest way to create cohesion with suppliers and customers. This would discourage switching to a competitor, help vendors in their operations, and additionally create new revenue streams for marketplace platforms.

Integrating finance is the best retention strategy for marketplaces, as this article highlights. The figure below shows how integrating finance unlocks other network effects for marketplaces. By integrating financial services into the supplier’s digital account or journey, the platform creates cohesion, attracts and retains the best suppliers by providing a superior experience. This in turn means that the marketplace will get a competitive edge to host the best products and services that will attract customers. The integration of client-side financial services will lead to increased customer demand and return, which will attract even more suppliers and sellers to the platform. This creates a win-win situation for the platform, the provider and the customer.

Financial services integration allows providers to manage some of the most important aspects of their business, in one place. It will also give marketplaces the ability to help vendors improve the financial well-being of their business, which will ultimately lead to happier end customers (think pricing consistency, inventory management, or just survival through budgeting and cash flow management).

Here is a list of the top 10 “supplier-side” financial services to integrate into marketplaces. It has been prepared with typical “supply-side” market vendors in mind, such as:

  • List of apartment or hotel owners on Airbnb or Booking.com

  • Taxi drivers on Uber, Lyft or Bolt

  • Sellers selling goods on Ebay or Shopify

  • Petsitters, babysitters or teachers using online matchmaking platforms

  • Restaurant owners selling through UberEats or DoorDash

#1: Onboarding process

A first seller, or gig worker, opening an account on a marketplace would need a bank account, ID, possibly a legal entity, and provide proof of tax clearance. As the first point of contact with a vendor, the platform has the ability to provide a seamless onboarding experience.

By integrating Banking-as-a-Service into the platform, the seller can open a store/account and, at the same time, get a bank account – allowing them to manage their business in one place. Compliance checks and licensing will all be handled by the BaaS provider.

Shopify balance is a great example of how suppliers don’t need to open a traditional bank account. Businesses can keep their funds on Shopify, pay vendors, and receive offers from partners.

#2: Cash flow and budget management

Depending on the product or service offered, reservations, work or orders may be seasonal and ad hoc. This means suppliers struggle to predict cash flow. By owning the banking relationship with the provider, the marketplace has access to their transaction data and can easily provide information on inflows and outflows, as well as predict revenue and cost seasonality. This would incentivize vendors to run their business on one platform rather than multiple ones so they can have a single, consolidated view of cash flow.

#3: Financing and loans

It’s no secret that banks don’t cater to construction workers or small businesses with irregular incomes. Marketplaces have a history of supplier transactions and are in the best position to understand the business and perform a credit check and risk assessment of the supplier – which can be easily facilitated by AI. Receiving a loan could mean the difference between success and failure for sellers. With the right valuations and insurance in place, supply chain and working capital financing could become a profitable revenue stream for markets and, in turn, could mean they own the financing relationship. with suppliers, which creates a long-term bond. For a gig worker, it could mean the difference between a “payday” loan with exorbitant interest rates or an affordable offer from their trusted platform that knows their income trends.

#4: Investment and savings management

44% of Gig-workers are not saving for retirement. Integrating wealth management into marketplaces will help providers and gig workers improve their financial well-being. Consider helping them plan their quarterly tax payments and set long-term goals, such as planning for their children’s education or retirement and pension. Access to their transaction data could also mean pushing them, at the most relevant time, such as “payday”, to deposit into a savings account.

#5: Manage profit margins

Platforms usually provide suppliers with price information, based on demand and supply. Like AirBnB telling hosts that 90% of listings are sold out for certain dates and suggesting prices, based on apartments with similar characteristics to theirs. If the banking relationship with the supplier belongs to the platform, it will also be able to detect trends or seasonality in input costs. For example, they can help the supplier manage their profit margins by suggesting “energy prices have gone up 20%” or “we noticed your supplier bill is 20% higher this month”, “so consider to increase your selling price by X% to maintain your profit margins and ensure that you are able to cover the rent and the repayment of your loan this month”.

#6: Loyalty Rewards and Discounts

Chances are that all marketplace vendors in certain regions use the same vendors. Where transaction data is held, major vendors can be identified. Whether it’s laundry services for customers, fresh linen for beds, meat and fresh produce for their restaurants, service stations to refill their taxi or delivery service agents. When grouped together, the buying power of sellers is enormous and a discount could be negotiated with their suppliers. Integrating a cashback, rebate or loyalty reward with major suppliers into the platform could help suppliers manage costs and create stickiness for a satisfied long-term supplier.

#7: Digital Wallet

A top-notch add-on for markets is an integrated digital wallet. Of all the examples mentioned above, there is a lot of value in owning transaction data and the ability it gives the platform/marketplace to identify and provide bespoke value-added services to vendors. A wallet will also mean lower payment fees and faster payouts. This will allow platforms to remove third-party dependency or intervention and remove an additional low value-added process from the market-provider relationship.

#8: Insurance

With access to supplier transaction data, appropriate insurance products could be offered. These may include income protection, extended warranties or maintenance plans on purchased equipment, guest damage protection, cancellation coverage, accident coverage, healthcare insurance, supply chain disruption coverage, and more. With an integrated wallet, insurance claims can be paid instantly, allowing providers to focus on their business with peace of mind.

#9: Currency hedging

Marketplace sellers whose input costs are in foreign currencies are exposed to currency risk. A seller in the United States can order goods, to resell them on eBay, from China. They are expected to pay for the good within 30 days of placing the order. During these 30 days, the US dollar could lose value to the Chinese yuan and have a significant impact on their profit margins. The same can be said for suppliers with employees in different countries. With a
payroll coverage solutionsuppliers can also forecast and control their personnel costs.

#10: Manage VAT, taxation and accounting

Accounting software such as Xeroand Quickbooks have made it easy to stay complaint with tax, VAT and accounts preparation. Imagine if a marketplace had access to all incoming and outgoing transactions – wouldn’t it also be best placed to integrate accounting software to facilitate VAT and tax filings. This is linked to wealth management, to help them plan and save for the payment of VAT and taxes. Ideally, their payroll will also be managed on the platform, so all of their business is handled in one place.

Solana Price: Rival Bitcoin and Ethereum Crypto Value in GBP

If a cryptocoin shows the slightest sign of increasing in value, investors are everywhere – Solana is no exception

Cryptocurrencies are considered high risk investments due to unpredictability and volatility nature of the market.

As the already volatile cryptocurrency scene gradually becomes increasingly unpredictable, investors are looking for new coins to invest their real money in, hoping to earn a good return.

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The latest to catch people’s attention is Solana, which has seen several price spikes recently, bucking the trend of widespread crypto crashes.

So what exactly is it, and how much does Solana cost?

Here’s everything you need to know about it.

What is Solana?

Solana (or SOL) is the native cryptocurrency of the public blockchain platform of the same name.

What the developers of this platform hope to set apart from others – like Ethereum – is its “proof of history” concept.

Essentially, “proof of history” is a method of synchronizing time between computers that don’t trust each other.

When Bitcoin was created more than a decade ago, it solved a difficult problem: how to allow strangers around the world to conduct financial transactions over the Internet without the intervention of financial intermediaries or payment processors such as as Visa or Mastercard.

Blockchain was the technology that enabled decentralized transactions – but blockchains have always had one major drawback: they are slower.