Credibly Financial News Roundup for the Week of July 13, 2015


Jeffrey Bumbales

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 what caught our attention this week: 

Small-Business Loans: More Owners Seeking and Getting Funds by Benjamin Pimentel, nerdwallet
“Both demand and access to small-business financing have hit their highest rate since the fourth quarter of 2012, according to a quarterly survey by Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet, a business research firm.”

Americans Still More Confident in Small vs. Big Business by Andrew Dugan, Gallup

“Americans are more than three times as likely to express confidence in small business as they are in big business. Sixty-seven percent of U.S. adults report having ‘a great deal’ or ‘quite a lot’ of confidence in small business, far eclipsing the 21% who are similarly confident in big business. Confidence in small business is up slightly from last year’s 62%, while confidence in big business is unchanged.”

State Small Business Credit Initiative: A summary of States’ 2014 Annual Reports (Department of the Treasury)
“We are pleased to present the Summary of States’ 2014 Annual Reports for the U.S. Treasury’s State Small Business Credit Initiative (SSBCI). SSBCI was created by the Small Business Jobs Act of 2010 to support private lending and investing in small businesses. From 2011 through 2014, States reported that they had expended $864 million in SSBCI funds which, in turn, supported over 12,400 private sector loans or investments to small businesses totaling $6.4 billion.”

JPMorgan & Chase Co. (NYSE: JPM) Is All Set To Embrace Alternative Lenders To Stay Relevant by Neha Gupta, Invest Correctly, July 15, 2015
“JPMorgan & Chase Co. (NYSE:JPM) is showing interest in the alternative lending business. In a recent update to investors, the bank’s CEO, Jamie Dimon highlighted how startups are making interesting moves in alternative lending space. According to Dimon, JPMorgan would consider simplifying its lending to take away the usual ‘pain points’ of securing loans from big banks. Where possible, Dimon said, JPMorgan would not hesitate to partner to drive its alternative lending agenda.”

The Credit Score Every Small Business Owner Needs to Understand by Garrett Sutton, Time, July 14, 2015
“…Don’t be surprised if you haven’t heard of the FICO SBSS scores. The small business scores created by FICO are still largely a mystery and can be confusing to prospective borrowers, even though they can play a crucial role in the loan you hope to get to fund the growth or expansion of your business. But if you own a business, or hope to in the future, you should learn about them. Numerous lenders use FICO SBSS models and they play an important role in many Small Business Administration (SBA) loans.”


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

Over at we’re helping small businesses evaluate their working capital needs, source the right funding, and put those dollars to use more efficiently. In fact we just posted a great interview with Nicole Snow, the CEO of Darn Good Yarn, so hop on over and find out how she grew her yarn company from $16k to $1M in six years!