Small Business in the News: December 10-16, 2016

We know there is too much to keep up with when you’re a busy entrepreneur, so we compile small business news highlights each week for you to read only what matters most. Here is a summary of the top stories for December 10-16, 2016.

Feds Increase Rates, Not Likely to Affect Business Owners

The Federal Reserve raised the nation’s benchmark interest rates, but business owners may not be affected. The funds rate was raised by a quarter of a percentage point, which is the first increase in a year and the second in a decade. Read more…

Loan Approval Rates at Banks & Institutional Lenders Increase

The latest small business lending index revealed loan approval rates at big banks and institutional lenders continue to surge. In the month of November, the index reached new highs at 23.7%, an increase of two-tenths of a percent from October. Read more…

Bank of America Joins Nav’s Small Business Financing Marketplace

Nav announced that Bank of America has joined its business financing marketplace, giving them the most business financing options available in one location. Business owners can use Nav to search funding options to grow their business. Read more…

SnapCap and BodeTree Form Partnership

SnapCap partnered up with BodeTree, allowing their small business customers to access the full suite of financial tracking and analytic tools for free. BodeTree’s bank sync technology connects to over 25,000 financial institutions to automatically categorize each transaction of your business. Read more…

BlueVine Gets $49 Million in Funding

BlueVine announced they recently secured $49 million from various investors. BlueVine will use the funding to continue expanding operations and add new product offerings. The company expects to provide more than $500 million in working capital financing to small businesses in 2017. Read more…

OnDeck Gets $200 Million

Online lender, OnDeck Capital, received a $200 million revolving debt facility from Credit Suisse. The new funding will help OnDeck fund more of its own loans, enabling it to rely less on outside investors. The funds will be used to expand its balance sheet lending operations. Read more…

 

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