MARKETING AND NETWORKING
Nextdoor | March 13, 2023
Nextdoor has recently unveiled a suite of products designed to assist small businesses in growing in the face of increased economic challenges. This suite of free marketing tools, including events, videos, polls, and unlimited business posts, is aimed at small businesses worldwide, finding new approaches to create genuine connections with a high-intent local audience.
The new suite of marketing tools includes a streamlined post composer that allows small businesses to upload engaging content for free as often as they'd like. In addition, the new composer has unlimited access to the following new post formats:
Events: Businesses can create and share events to attract new neighbors and increase foot traffic. Events will be promoted on the Discover page for neighbors within a 10-mile radius, as well as in the newsfeeds of the business's neighbors and those who have Faved the business.
Polls: Businesses may create polls to learn more about their customers’ requirements and discover what neighbors desire. Polls make it simple for businesses to get data from verified locals.
Video: Video content brings businesses to existence by allowing neighbors to see available items or receive a warm welcome from local employees. A survey found that 87% of Nextdoor neighbors are more willing to spend money with a small business if they know anything personal about it, such as its backstory, local history, or individuals who work there.
All small business users worldwide can now access events, videos, polls, and limitless business postings. Small companies wishing to attract local clients may create a free Nextdoor business page to take advantage of the new capabilities and engage with their neighbors via unlimited business postings. Nextdoor Advertising is a simple method to spread the word up to 30 miles for eligible businesses wishing to increase their reach.
About Nextdoor
Nextdoor is a social networking platform that connects people within their local neighborhoods. The platform aims to create more robust and safer communities by providing neighbors with a way to communicate and share information with each other. It offers a variety of features, including a newsfeed, classifieds, and events, and allows users to share recommendations, ask for help, and offer assistance. Additionally, the platform provides tools for local businesses to connect with their community and promote their products or services. With over 10 million registered users in the United States alone, Nextdoor has become a popular way for neighbors to stay connected and informed.
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FINANCE
Eastern Bank | March 14, 2023
Eastern Bank announced the introduction of the Equity Alliance for Businesses to further accelerate the growth of underrepresented entrepreneurs and business owners as part of its longstanding and profound commitment to promote greater economic inclusion and mobility.
Equality Alliance for Business is a unique credit program geared to meet the requirements of diverse business owners who are people of color or women and all their intersectionality, such as the LGBTQIA+, veteran, and disabled communities. It also provides access to additional banking and community services, as well as entrepreneurial thoughts and tools, supplied by a team of diverse bankers with input from leading business support organizations.
Eastern Bank is the top SBA lender to Massachusetts's small business community, and as a community bank, it is deeply devoted to assisting small businesses and their vital role in ensuring a thriving local economy. The bank's efforts to address racial inequities and the wealth gap include community development and small business lending, supporting the growth of minority business owners, offering accessible banking services, and strengthening public-private partnerships.
Quincy Miller, Vice Chair & President of Eastern Bank, said, "Eastern has a deep and long-held commitment to advancing equity and opportunity for all, and Equity Alliance for Business is yet another step in advancing our commitment to economic inclusion and strengthening our communities." He added, "We understand resources such as specialized credit programs designed to address systemic inequities, specially trained bankers, and financial tools and community partnerships are game-changing in opening up much-needed opportunities of support for entrepreneurs and business owners."
(Source – Business Wire)
Equity Alliance for Business aims to meet the requirements of business owners with at least 51% ownership by people of color or women or all their intersectionality, including the LGBTQIA+, disabled communities, and veterans, who may not qualify for access to capital under conventional underwriting standards. The ecosystem provides:
• Local 1:1 Relationships
• Credit Solutions, with a Special Purpose Credit Program
• Supplementary Financial Products & Services
• Access to Other Tools & Resources
About Eastern Bank
Eastern Bank, founded in 1818 and headquartered in Boston, has more than 120 branches in Rhode Island, eastern Massachusetts, and southern and coastal New Hampshire. Eastern Bank had almost $23 billion in total assets as of December 31, 2022. Through its Eastern Insurance Group LLC subsidiary and Eastern Wealth Management division, Eastern provides banking, investing, and insurance products and services to individuals and businesses of all sizes. Eastern is proud of its outspoken advocacy and community support, which includes charity contributions of $240 million since 1994. Eastern is an inclusive business that employs around 2,100 individuals that respect their relationships with customers, colleagues, and communities.
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SMALL BUSINESS TRENDS
BILL | March 15, 2023
On March 14, 2023, BILL, a leading financial automation solutions provider for small and midsize businesses (SMBs), announced new offerings for businesses impacted by the recent events involving Silicon Valley Bank (SVB). These new programs are aimed at helping SMBs remain fully operational during this challenging time.
BILL's new offerings include programs to enable business continuity for existing customers who are also SVB customers. The first program is BILL balance, a secure and convenient way for customers to store and move funds in order to make quicker payments to vendors to any bank in the US with no additional fees. The second program is pre-approval for a Divvy line of credit, which allows small businesses to quickly pay bills using an existing or new Divvy corporate card. The third program is the ability to connect SVB debit cards to BILL Pay By Card, allowing customers to access their funds immediately and use them to pay vendors. For the next 30 days beginning March 14, BILL will reimburse all pay-by-card transaction fees made with SVB debit cards.
In addition to the above three programs, BILL is also offering a new three-month free trial of the BILL platform for any businesses looking to improve control, efficiency and visibility of their financial operations.
BILL's core products and services can also assist SMBs in streamlining financial processes, improving financial controls and visibility, and providing users with access to capital. On the BILL platform, SMBs can automate payables and receivables workflows, manage cash in and out with an array of quick and safe payment offerings, and access business credit and control expenses with Divvy's Spend and Expense Management Platform.
All of these offerings are part of BILL's ongoing commitment to automating the future of finance so that businesses can thrive, particularly during challenging times like those facing SVB customers.
About BILL
BILL is a financial automation software company that provides solutions to small and midsize businesses (SMBs) to streamline their financial operations. The company's mission is to automate the future of finance, so businesses can thrive by providing a platform that simplifies and automates financial processes.It offers a suite of products and services that enable SMBs to automate payables and receivables workflows, manage cash in and out, access business credit and control expenses. These services include ACH, card, and international transfers, as well as the ability to store and move funds securely and conveniently using BILL balance. In addition, it integrates with popular accounting software like QuickBooks, Xero, and NetSuite, making it easy for businesses to manage their financial operations in one place.
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