Heard on the Street: 5 ways fintech can responsibly grow their small biz portfolios, why the SBA should make startups a priority, and a big commitment from Kresge

By April 8, 2019 April 9th, 2019 Heard on the Street

Heard on the Street – here’s what we were reading last week:

5 ways Fintechs can responsibly grow their small business portfolios: As their market share and portfolios grow, Fintech needs to do more than just provide capital to borrowers. Small business experts Next Street share five ways that fintech can serve small businesses better.

How Cities Can Help Entrepreneurs of Color Scale Up: The structural challenges that entrepreneurs of color face are well-documented, and disparities in business ownership are stark…yet most programs focused on supporting entrepreneurs of color target small-business creation, which leads to a self-perpetuating cycle that limits wealth building and may be exacerbating wealth inequities.

Why the Small Business Administration Should Make Startups a Priority: Economist Robert Atkinson wants to reinvent the Small Business Administration as the ‘New Business Administration’ with a broad agenda to foster startups.

Kresge pledges to place one-quarter of assets with women, minority firms by 2025: In a move meant to spur other foundations to follow suit, Kresge Foundation will place approximately $462.5 million under management of women- and minority- owned firms by 2025.

As relaxed regulations spur credit union memberships, banks cry foul: Credit unions are only supposed to serve certain communities, but the federal government has made membership restrictions a lot looser than they used to be, and that’s helped credit union membership shoot up by almost 60 percent over the past 20 years.