The Consumer Financial Protection Bureau (CFPB) rule requiring lenders to gather demographic information about small business borrowers has leapt another legal hurdle. A federal judge rejected a banking industry-backed challenge that argued that the rule’s data collection method was flawed, Reuters reported Monday (Aug. 26). U.S. District Judge Randy Crane in McAllen, Texas, ruled that the challenge
Lithuanian alternative lender Finbee Verslui has raised €35m ($38m) in a funding round led by Pollen Street Capital to expand its loan services for small and medium-sized enterprises (SMEs). The investment will be used by the lender to fast-track the provision of business loans, offering quicker processing and more favourable terms for Lithuanian SMEs. The
ATLANTA – A new study recently found that Georgia business receive the highest average loans compared to those in other states in America. Release: A recent study found that Georgia businesses receive the highest average loans compared to those in any other state. A study by business formation experts, CreditDonkey, analyzed U.S. Small Business Administration
At a time when every financial decision counts, many small to medium-sized businesses (SMBs) can at least take some comfort knowing there are a wide variety of borrowing tools available if needed. Today’s entrepreneurs can choose from reward-earning credit cards; merchant loans; bank loans; buy now, pay later (BNPL) products; lines of credit and more.
Key takeaways No collateral business loans are a higher risk to the lender, leading to higher interest rates than other loans When applying for an unsecured business loan, check that your business fits the lender’s minimum requirements to apply. Business loans without collateral often require that you sign a personal guarantee, which states that you