You know going paperless can reduce your carbon footprint and help the environment. And you know that maintaining electronic records has been fully compliant with regulations for years now. But there are some unexpected pluses to reducing your bank's reliance on paper, beyond the benefit to the environment. Here are three hidden benefits to going […]
Fintech innovation operates in an ever-evolving financial regulatory landscape. Regulators are stepping up scrutiny of non-banks, particularly marketplace lenders, even as the new Consumer Financial Protection Bureau (CFPB) establishes its mandate and rules. This shifting landscape carries regulatory implications for traditional banks weighing fintech partnerships. In this blog series, Mirador will recap the latest regulatory […]
Imagine a small business poised to expand–for example, a coffee shop expanding to a second location. The entrepreneur who runs this coffee shop has got a lot on her to-do list. She's got to scout locations, do market research to figure out the demand for her product in a new neighborhood, hire staff, advertise, and […]
Recently the alternative lender Kabbage launched a new app that makes the entire small business loan origination process mobile–and completely automatic. Using this app, small business owners can apply for a loan directly from their mobile phones. The application, identity verification, and approval processes are completely automated. Qualified borrowers are approved in seconds, literally. The […]
Bank lending is suddenly booming. A recent American Banker article reports double-digit loan growth for 80 banks surveyed, spanning either the entire loan portfolio or key loan categories like small business lending. JPMorgan Chase increased “consumer and community banking loans” by 23%, to cite just one of a string of examples. How can your bank […]
It's budget season. Like banks across the nation, your team is drawing up future plans for greater growth, efficiencies, risk management and balance. Where does small business lending fit in this picture? SMB lending has weathered some challenges post-2008. But more recent trends confirm SMB lending as a promising growth area for banks large and […]
In the confusion after the 2008 market crash, new, innovative financial players cropped up and started nibbling at the edges of several profitable markets, including consumer lending, investment management, and small business lending. Now that nibbling is starting to turn into bigger and bigger bites–and banks are starting to take notice. Non-bank originators already hold […]
Fintech innovation operates in an ever-evolving financial regulatory landscape. Regulators are stepping up scrutiny of non-banks, particularly marketplace lenders, even as the new Consumer Financial Protection Bureau (CFPB) establishes its mandate and rules. This shifting landscape carries regulatory implications for traditional banks weighing fintech partnerships. In this blog series, Mirador will recap the latest regulatory […]
With reports touting the health of the economy and the Federal Reserve talking about raising interest rates again, the lending environment must be good for small business owners, right? Wrong. According to Babson's 2016 State of Small Business in America report, obtaining capital is a challenge that frustrated SMB owners continue to face. […]
7(a). 504. Working capital. Merchant cash advance. Professional practice. Franchise startup. Peer-to-peer. Microloan. Line of credit. With more than 25 different types of loans, it's tricky for small business owners to navigate the lending environment. Various restrictions complicate matters even further, leaving borrowers unsure if they're getting the right loan to match their needs […]