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Industry News - November 6, 2018
November 6, 2018
What Issues are Small Business Owners Taking to the Polls Today?
While campaign season has a tendency to bring up anxieties and concerns for the future, small business owners are largely optimistic.
SBA and VA Join Forces to Advance Entrepreneurship Opportunities for Veterans
Administrator McMahon and Secretary Wilkie signed a Memorandum of Understanding to scale a new joint pilot program that offers intensive management and leadership training for Veteran entrepreneurs.
Through this relationship, Popular Bank will leverage Biz2Credit’s patented analytics and technology platforms to process small business loan requests.
How Machine Learning Is Quietly Transforming Small Business Lending
Traditional metrics aren’t the best predictors of whether a small business can repay a loan. Enter machine learning, which has the potential to transform financial institutions from the inside out.
NCUA awards $2M in grants to 203 low-income Credit Unions
Grant awards ranging from $1,300 to $20,000 were made to credit unions in 42 states and the District of Columbia.
Source: Credit Union National Association
OakNorth: How AI Can Fuel Banks’ Return to SMB Lending
Large banks are struggling to overcome the challenges of small business lending, and it often comes down to data.