FinTechs Help Banks Ease The PPP Lending Pain

PYMNTS.com | April 08, 2020

Small businesses overwhelmed U.S. financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. When the program went live on Friday (April 3), only two FIs, Bank of America and JPMorgan Chase, had been able to begin accepting applications — Bank of America saw a whopping $6 billion worth of applications in only a few hours, ending Friday with $32.6 billion in applications. It was a shaky start for the initiative that was designed to ease the pain of the coronavirus pandemic, with small businesses expressing frustration at the “nightmare” process of attempting to access a portion of the $349 billion available under the legislation.

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TECHNOLOGY, SMALL BUSINESS ADVICE

CyberCatch and Arizona Small Business Association Announce Partnership to Help Small Businesses in Arizona Mitigate Cyber Risk

CyberCatch | September 22, 2022

CyberCatch, today, jointly announced with the Arizona Small Business Association (ASBA), a strategic partnership to enable Arizona's small businesses to quickly and easily implement necessary cyber security controls for digital success.According to the U.S. Small Business Administration, there are more than 590,000 small businesses (those with fewer than 500 employees) in Arizona, and these businesses employ nearly 43.5% of the state's private workforce. Small businesses are the growth engine of Arizona's economy, and this partnership provides a valuable tool for continued success,said Debbie Hann, Chief Operating Officer, ASBA. We are delighted to partner with CyberCatch to keep Arizona's small businesses one step ahead of cyber threats, so they can continue to grow and succeed digitally. Nearly all small businesses are digital these days, and need to stay proactive, said Hann.ASBA is pleased to take a leadership position with this program and announce a new ASBA membership benefit in the form of a subscription to CyberCatch, at a discount. CyberCatch's patented, innovative, cybersecurity Software-as-a-Service (SaaS) solution is specifically designed for small businesses and enables quick and easy implementation of all necessary controls for continuous cyber security. The SaaS solution automatically and continuously tests cyber security controls to detect security holes for prompt remediation so attackers cannot exploit and ensures ongoing compliance and cyber risk mitigation. "CyberCatch is a one-stop-shop for small businesses. We are honored to partner with ASBA. Our compliments to ASBA for their foresight and forward thinking to recognize cyber risk as a key threat to small businesses in Arizona and to partner with us to craft a valuable and timely solution for their members and prospective members to assure their continued success." Sai Huda, founder, chairman and CEO, CyberCatch. The root cause of data thefts and ransomware is security holes which derive from missing or ineffective cybersecurity controls that the small business is unaware of," said Huda. "Small businesses have limited resources and generally don't know what cyber security controls to implement or how to implement them in order to be secure from cyber threats, and now must comply with new requirements such as Zero Trust. ASBA and CyberCatch aim to fill those gaps in small business knowledge, with this innovative new partnership. This member benefit gives small businesses immediate savings and continual digital compliance and security. To learn more about this benefit, visit website. About Arizona Small Business Association The Arizona Small Business Association (ASBA) was founded in 1973 and serves as the collective voice of small businesses in Arizona by driving a better environment for all of us to do business. Today, ASBA is focused on delivering statewide education, mentoring, networking, and advocacy programs, providing innovative entrepreneurs with the resources necessary to grow and evolve in an ever-changing marketplace. For more information, visit website. About CyberCatch CyberCatch is a unique, patented cybersecurity Software-as-a-Service (SaaS) company that protects small and medium-sized businesses (SMBs) from cyberattacks by focusing on the root cause why SMBs fall victim: security holes. It provides an innovative cloud-based SaaS platform coupled with deep subject matter expertise to help SMBs implement just the right type and amount of cybersecurity controls. The platform then performs automated testing of controls from three dimensions: outside-in, inside-out and social engineering. It generates the Cyber Breach Score to continuously measure cyber risk and finds security holes and guides the SMB to fix them promptly, so attackers can't exploit any missing or broken controls to break in and steal data or infect ransomware. CyberCatch's continuous value proposition:

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MARKETING AND NETWORKING

ShopBIPOC launches free online marketplace featuring BIPOC small business owners

ShopBIPOC | November 18, 2022

ShopBIPOC has launched a new online marketplace featuring BIPOC-owned small businesses in Colorado. (BIPOC is an acronym for Black, Indigenous, and People of Color). The creation of ShopBIPOC was a response to calls from individuals, businesses, and institutions who wanted to support BIPOC-owned businesses and didn't have access to a central marketplace. So, twelve community organizations came together to create the ShopBIPOC platform an online marketplace where conscientious consumers can shop with Colorado's BIPOC-owned businesses. For the first time, Colorado consumers will have a new opportunity to invest their dollars into businesses owned by BIPOC entrepreneurs in an easy-to-access and shop platform. This holiday season, Americans are expected to spend an average of $932 on gifts, up from an average of $837 last year (Gallup, October 2022). According to the U.S. SBA, Hispanic entrepreneurs comprise 11.1 percent of business owners in Colorado, and BIPOC entrepreneurs comprise 7.4 percent. ShopBIPOC is where Colorado shoppers can buy from nearly 200 local, BIPOC-owned businesses. "People have a real appetite for buying from local small businesses right now, but they can be hard to identify and find, We care about closing the racial wealth gap and lifting entrepreneurs of color. We created ShopBIPOC to connect local BIPOC-owned small businesses with a wider market." Yessica Holguin, Executive Director of Center for Community Wealth Building, one of ShopBIPOC's twelve founding organizations. This platform also supports these entrepreneurs in establishing and strengthening their digital presence and connecting with new consumers that may have never had access to them. Restaurateur Edwin Sandoval of Xatrucho Concepts shared, ShopBIPOC has been a valuable resource to Xatrucho in many ways, primarily in helping us reach and connect with government offices and organizations that are looking to diversify their purchasing.ShopBIPOC is free for business owners to list their businesses and accessible for consumers to shop and explore. About ShopBIPOC Through a collaborative effort of twelve community organizations led by the Center for Community Wealth Building, ShopBIPOC was launched in the Fall of 2022 to connect consumers with BIPOC-owned businesses through an online marketplace.

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TECHNOLOGY

BAU Launches New and Revolutionary Mobile App to Help Small Businesses Promote Themselves

BAU | November 21, 2022

BAU has launched a new mobile app designed to help small businesses advertise themselves through super-charged word-of-mouth for our digital age. Imagine a construction contractor attracting new clients by reaching the audience of a nearby real estate broker, or a coffee shop partnering with a nearby bagel business and getting its ads shown directly to their viewership. BAU lets you take advantage of industries that naturally appeal to consumers together in order to reach the right buyers and send the right message. Most business owners use Google, Meta, Yelp and other platforms as expensive but necessary tools to reach target audiences online ... but it doesn't have to be that way. BAU has created an opportunity to connect with the exact type of complementary businesses that have access to desired customers, attracting attention, sales, and clicks from the right prospects. "This is a 'dating' platform for everyone to build better relationships with small businesses nearby," BAU CEO Lambert Egbuchulam. The new BAU mobile app offers: BETTER TARGETING Let's face it: most ads are misplaced annoyances that people can't wait to skip. Advertisements on BAU get seen by your specific target audience, meaning better results with no exposures wasted on people you don't want to appeal to. LOWER PRICES Digital advertising is like the housing market—prices just keep barreling upwards, driven by competition. With BAU, you could save a fraction of what you would on a monthly ad budget compared to what you'd waste on "the big guys," increasing R.O.I. and making advertising a no-brainer. COMPLETE TRANSPARENCY BAU compiles straightforward, up-to-the-minute reports with results that let you know how your ads are doing at a glance. Update, suspend, or alter your campaign at any time. SIMPLIFIED MANAGEMENT No tech stuff, no setup wizards, no degree in computer science needed. We built BAU to be simple enough for Grandma to use, without all the jargon and learning curve. LOCAL BAU is all about symbiotic relationships within your local community. Not only do people like to buy where they live, but it also makes it more cost-effective and seamless for you, the business owner. ABOUT BAU At BAU, we believe it shouldn't be about who has the biggest ad budget or most genius marketing team —we dream of a world where needs are met and businesses are built based on honest, local collaboration. By connecting local businesses and having them help advertise each other, we're inspiring commerce to be more simple, more honest, and more clear. We consider our business model to be super-charged word-of-mouth, updated and revolutionized for our digital age. We invite you to join us on our crusade to bring the power back to the small businesses as we create marketing opportunities that don't just create profits... they also empower people.

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SMALL BUSINESS ADVICE

Outreach Team Selected to Support Local Small Businesses

Community Business Connector | October 07, 2022

The Seattle Metropolitan Chamber of Commerce, the Port of Seattle, and King County announced today that seven community organizations would serve local small businesses through the Community Business Connector (CBC) program These organizations, identified as Connectors, will serve small businesses in five geographic hubs in King County through a targeted outreach program. Connectors will provide access to available business resources to help them sustain and grow their enterprises. A review panel selected the Connector finalist following a competitive application process. Seven connectors, in the first phase of this pilot program, will ease the way for small businesses across King County to connect with advisors and access resources for business recovery. Connectors will receive a one-time funding award from $30,000 to $40,000 over 12 months as part of the pilot program. Those selected include the following. Lake City Collective OneEastside Spark Growing Contigo, LLC International Rescue Committee Indian American Community Services Kent Chamber of Commerce SnoValley Chamber The Chamber's team of Connectors utilizes an online ticket system to connect with business owners directly. Connectors provide referral options to lenders, small business development centers, and other helpful resources. The Port of Seattle invested $650,000 in community-based partnerships to open doors for ethnic businesses that anchor our communities and neighborhoods, Port of Seattle Commissioner Hamdi Mohamed. "Helping small companies tap resources is vital as the region grows amid uncertain economic conditions locally and globally. Connectors will make the region's small business support ecosystem more accommodating and inclusive by building relationships with businesses facing challenges due to linguistic, cultural, and geographic barriers. "Companies owned by people of color, and those based in rural communities have faced higher barriers to accessing capital, receiving state and local relief funding, and pivoting to online sales ,We are committing $500,000 from King County COVID-19 Local Recovery Funds to ensure that small businesses throughout King County can get the direct support and resources they need " Seattle Metro Chamber CEO Rachel Smith

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Spotlight

You can start Event Management business after getting event management training. There are many event management presentation, event management software, event management tutorial are available in the market. Event management business is very popular in Bangladesh, India, USA, UK, Canada and also Germany.

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