Heard on the Street – here’s what we were reading last week:
Small business owners are fighting on New York’s inflation frontline: They cut hours, slashed budgets, raised prices —anything to keep their doors open. There were no extra pots of money and no more government loans. They were small-business owners, and if they’d had good years and not so good years, now they were having a very, very bad year.
The Decline Of The Bank Starts With Small Business: Banks are seeing a vital component of the banking relationship slip away, and it has a disproportionately negative impact on smaller regional banks and credit unions. They are losing the small business customer.
Leading Mission-Driven Organizations Launch Momentus Capital to Transform How The Financial Sector Helps Entrepreneurs and Communities Thrive: Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies bring more than 80 years of combined small business and community development experience to the Momentus Capital family of organizations.
New fintech-led trends in the small business banking space: While the pandemic and digital transformation have, together, driven many positive changes in the fintech and insurtech industries, small businesses, in general, have suffered catastrophically.