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SMALL BUSINESS TRENDS

NOVO RAISES $40.7M SERIES A FUNDING TO WIDEN DIGITAL BANKING PLATFORM FOR SMALL BUSINESSES

Novo | June 17, 2021

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Novo, a simple small business banking platform, announced that the company raised $40.7M in Series A funding. Led by Valar Ventures and followed by other participants like Crosslink Capital, Rainfall Ventures, Red Sea Ventures, and BoxGroup. More than 100,000 small businesses have opened a Novo account since its launch in 2018. Novo surpassed $1 billion in lifetime transactions, opened a new office in Miami, announced several new features, and grew its leadership team. The company...

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LENDINGTREE SURVEY OF SMALL BUSINESS OWNERS FINDS 46% ARE CONCERNED THEY WON'T HAVE ENOUGH MONEY TO REOPEN

LendingTree | May 29, 2020

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Even as states and cities slowly allow more businesses to reopen, many entrepreneurs are anxious about doing so. Nearly half of small business owners worry they cannot afford to resume normal operations following mandated closures to slow the spread of COVID-19, according to LendingTree's latest survey of small business owners. Approximately 46% of small business owners cite funding as the primary obstacle to reopening, and that once open, increased health and safety measures could further s...

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U.S. FIRMS MAY FACE PROBES OVER PAYROLL LOANS, TREASURY, DOJ OFFICIALS WARN

Reuters | April 22, 2020

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U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that companies that received coronavirus rescue money intended for small businesses could be investigated if it appears they did not really need the money. Mnuchin said on Fox Business Network it was “questionable” whether some larger companies qualified for the Paycheck Protection Program (PPP), based on a self-certification step in the loan process. He said businesses need to look carefully at their applications to be sure ...

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THREE KEY COMPONENTS OF SMALL BUSINESS STRUCTURE

The Business Journals | March 02, 2020

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Motivational coach John Wooden once commented, “I worry that business leaders are more interested in material gain than they are in having the patience to build up a strong organization, and a strong organization starts with caring for their people.” I would further argue that leaders should take steps to design their organizations with their people’s needs in mind. If you Google “organizational structure,” you will get 20 different ways to structure a business, ran...

Read More
news image

SMALL BUSINESS TRENDS

NOVO RAISES $40.7M SERIES A FUNDING TO WIDEN DIGITAL BANKING PLATFORM FOR SMALL BUSINESSES

Novo | June 17, 2021

Novo, a simple small business banking platform, announced that the company raised $40.7M in Series A funding. Led by Valar Ventures and followed by other participants like Crosslink Capital, Rainfall Ventures, Red Sea Ventures, and BoxGroup. More than 100,000 small businesses have opened a Novo account since its launch in 2018. Novo surpassed $1 billion in lifetime transactions, opened a new office in Miami, announced several new features, and grew its leadership team. The company...

Read More
news image

LENDINGTREE SURVEY OF SMALL BUSINESS OWNERS FINDS 46% ARE CONCERNED THEY WON'T HAVE ENOUGH MONEY TO REOPEN

LendingTree | May 29, 2020

Even as states and cities slowly allow more businesses to reopen, many entrepreneurs are anxious about doing so. Nearly half of small business owners worry they cannot afford to resume normal operations following mandated closures to slow the spread of COVID-19, according to LendingTree's latest survey of small business owners. Approximately 46% of small business owners cite funding as the primary obstacle to reopening, and that once open, increased health and safety measures could further s...

Read More
news image

U.S. FIRMS MAY FACE PROBES OVER PAYROLL LOANS, TREASURY, DOJ OFFICIALS WARN

Reuters | April 22, 2020

U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that companies that received coronavirus rescue money intended for small businesses could be investigated if it appears they did not really need the money. Mnuchin said on Fox Business Network it was “questionable” whether some larger companies qualified for the Paycheck Protection Program (PPP), based on a self-certification step in the loan process. He said businesses need to look carefully at their applications to be sure ...

Read More
news image

THREE KEY COMPONENTS OF SMALL BUSINESS STRUCTURE

The Business Journals | March 02, 2020

Motivational coach John Wooden once commented, “I worry that business leaders are more interested in material gain than they are in having the patience to build up a strong organization, and a strong organization starts with caring for their people.” I would further argue that leaders should take steps to design their organizations with their people’s needs in mind. If you Google “organizational structure,” you will get 20 different ways to structure a business, ran...

Read More