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Credibly Financial News Roundup for the Week of October 26th, 2015


Ben Goldstein

With the world of small business finance changing so quickly, who can stay on top of it all? Here at Credibly, we sift through hundreds of blogs, news alerts, and emerging Fintech trends every day, selecting the most important industry updates so you don’t have to. Here’s the financial news that caught our attention this week.

Credibly Passes $200 Million in Funding for SMEs, Partners-up With BodeTree by J.D. Alois, Crowdfund Insider
“Credibly, an online direct lending platform has announced a new partnership with BodeTree, a cloud-based service that provides access to combined financial accounts and cash flow trends in a single location.  Simultaneously, Credibly shared it had surpassed $200 million in lending to over 4500 small businesses. Credibly facilitates SME loans from $5000 and up.”

Bitcoin For Beginners: What You Need to Know by Carrie Gallagher, Small Business Bonfire
“Industry experts, regulators and journalists alike hail the evolution of Bitcoin as one of the most transformative developments within financial services over the past decade. But what exactly is it? And why does it matter to your small business?”

Facebook Says Nearly One Third of Online Shopping Transactions Are On Mobile Devices by Mike Shields, The Wall Street Journal
“Is 2015 going to be the year of when everybody stuffs their stockings using smartphones? New data from Facebook suggests that consumers are rapidly growing more comfortable shopping with mobile devices, particularly younger demographics—which could have implications for advertisers and retailers during the upcoming holiday shopping season.”

REI Shocks Retail World By Closing For Black Friday, Paying 12,000 Employees to ‘Opt Outside’ by Micah Solomon, Forbes
“REI, the Seattle-based outdoor recreation and sporting goods giant, announced today that it is going to close for Black Friday (you read that right) and pay its 12,000 employees to go out and play. REI is also encouraging other companies to join them in what they describe as a stand against the commercial madness that’s characterized the day after Thanksgiving for at least a decade and a half.”

Rising from the Ashes, How the Credit Industry Transformed Post-Crash by Sanjib Kalita, Ngenuity journal,
“Kevin Brown, VP of Marketing and Product for Credibly, spent more than eight years at Citi. Brown described Credibly as ‘an emerging fintech platform leveraging data science and technology to serve small and medium businesses to deliver the most affordable and right-sized capital.'”

Three Baseline IT Security Tips for Small Businesses by Dan Patterson, TechRepublic.com
“When massive organizations like Sony, Home Depot, and the Office of Personnel Management are hacked they grab equally massive headlines. Yet, while they rarely grab headlines, small and middle-market companies are particularly susceptible to hacks, said Chris Crellin, Vice President of Product Management at Intronis, a data protection firm, because many SMBs can’t afford to employ a security team, or are uninformed of the risks posed by attackers.”

Seattle Councilmember Wants Rent Control for Businesses by Josh Green, King5.com
“Seattle City Councilmember Kshama Sawant unveiled her “Progressive Plan for Seattle’s Small Businesses and Their Workers” on Tuesday. In the 7-point document, she details how she plans on pushing for commercial rent stabilization to benefit small businesses.”


Have you checked out our small business education blog, In.Credibly?

Over at in.credibly.com we’re helping small businesses evaluate their working capital needs, source the right funding, and put those dollars to use more efficiently. This week, we published a list of 10 Things Your Restaurant Should Do Every Day to Stay Successful, and our contributing editor Chris Myers of BodeTree gave us Four Tips for Organizing and Managing Your Company’s Finances.