Heard on the Street – here’s what we were reading last week:
How Entrepreneurs Are Tapping Into the Power of Local: Crowdfunding campaigns being used in Appalachia are “like a digital focus group” that can help entrepreneurs refine their product and marketing strategies.
Funding Circle Finds Banks Doing A Bad Job Lending to Small Businesses: New research from Funding Circle, the peer-to-peer marketplace operator for lenders, found that SMB lending accounts for just 0.7% of the overall balance sheets of US banks.
How a Digital Commercial Loan Gets Made: Eastern Bank is committed to the growth and prosperity of the communities it serves, and is also a leader in small business lending, ranking in 2018 as the No. 1 Small Business Administration lender in New England for the ninth year in a row and in Massachusetts for the tenth year.
The Co-op With Forty Years of Making Loans to Co-ops: As a cooperative itself, things run a little differently at Shared Capital Cooperative. Only member cooperatives may borrow from Shared Capital, and the borrowers are also the investors. Since 1979, Shared Capital has made more than 850 loans totaling $50 million to cooperatives in 30 states.