Three months ago, we were sitting at a bar in Brooklyn complaining about our jobs. We had no idea this all-too-common conversation would lead us to quitting those jobs and starting our own business. We’ve known each other for eight years, since meeting as magazine interns in college, and, though our career paths never overlapped, we had always wanted to work together. Our belief that teen girls deserve to feel informed and empowered inspired us to start Clover, a daily email newsletter and community for high school and college-aged girls.
8 Surprising Lessons We've Learned As 20-Something Female Entrepreneurs
Bipartisan House Letter Cautions Treasury on Business Lending
Business lending is fundamentally different from consumer lending, and regulations should not treat them similarly, a bipartisan group of 20 House members told Treasury Secretary Jack Lew in a letter yesterday. Led by Reps. Randy Neugebauer (R-Texas) and Lacy Clay (D-Mo.), the lawmakers cautioned the Treasury Department not to make any recommendations that would stifle small business credit.
Department of Treasury to Release Report on Marketplace Lending
The US Department of Treasury has announced its intent to release a white paper next week pertaining to their review of the marketplace lending industry (orginally labeled peer to peer lending). The document is expected to encapsulate the many comment letters submitted to Treasury following their initial “Request for Information” (RFI) in July of 2015. Treasury followed up the request with a gathering of over 80 industry participants in August of 2015 that included an “impromptu” visit by Secretary of the Treasury Jack Lew who gave a brief “supportive” speech.
Why Online Business Loans Are More Expensive Than Bank Loans
If you’re an entrepreneur looking to borrow money to grow your business, applying for funding might dampen your excitement. Bank business loan applications are tedious, tiring, and cumbersome, but the more convenient online business loans cost more.
Why the difference? Here’s what you need to know.
Banks Get Money Cheaper
Online business loans from alternative lenders cost more for borrowers because they cost more for lenders, too. Banks simply have access to cheaper money from a couple of different sources.
When Does Short-term Debt Make Sense?
There’s a reason why the old phrase “you have to spend money to make money” is so prevalent—because access to capital is the lifeblood of any business, and small businesses in particular.