Industry News - October 22, 2018

October 22, 2018

USAA Taps StreetShares for Small Business Lending

In an industry that too often pits banks against fintechs, it’s good to see the magic offintech-bank partnerships alive and well. Together, USAA and StreetShares are making it happen.

Source: Finnovate

More Broken Promises for Returning Citizens

The Incarceration to Incorporation Entrepreneurship Program Act, an entrepreneurship model for returning citizens, passed in D.C. council and was signed by Mayor Bowser, but neither funded it in the last two budgets.

Source: Washington Post

Lendio Milestone: Tops $1 Billion in Business Loans Facilitated Through Online Marketplace

The lending platform reports that its small business clients have generated an estimated $3.8 billion in economic output and created more than 25,000 jobs nationwide.

Source: Crowdfund Insider 

Access Ventures Launching New Platform for Small Businesses and Lenders

Nonprofit investment firm Access Ventures is introducing Lenderfit an online platform to help ease the lending process for small businesses, microlenders, and regional banks.

Source: Insider Louisville

NAFCU Says NCUA Budget Boost is Unjustified Since Industry is Shrinking

NAFCU Board of Directors Chair Jeanne Kucey asserts that annual increases in the NCUA’s budget are not justified because the number of credit unions is decreasing.

Source: Credit Union Times

Cresset Capital Management and Diversified Real Estate Capital Have Launched a Qualified Opportunity Zone Fund
With more than 8,700 Opportunity Zones across all 50 states, Washington D.C., and Puerto Rico, both partners expect the Fund’s investments to help create significant impact and opportunity in many communities.

Source: AP News 


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