Category Archives: News

Stalham start-up owner criticises government enterprise support scheme

A start-up owner has criticised a government scheme designed to help entrepreneurs get their businesses off the ground after it failed to help him secure finance. Tim Tarrant sought help from the New Enterprise Allowance (NEA) to kickstart his fishing tackle sales and rental business, Hooked, in Stalham. But the former pet shop manager said he failed to secure a loan with his NEA business mentor’s help – leaving him with just a £65-per-week allowance from the scheme to buy stock.

Why This Belt Startup Is Donating $1.5 Million in Loans to Entrepreneurs in Developing Countries

It doesn’t take a lot of brain power to guess what Mission Belt does–its name says it all. The belt startup, which has a charitable mission to fight hunger and poverty, hit a huge milestone in pursuit of that objective. The Orem, Utah-based company has lent $1.5 million, or 60,000 micro-loans, to small business owners around the world, the company announced Monday. The startup partnered with Kiva, a nonprofit that lets people lend money to low-income entrepreneurs in developing countries, when it launched in 2012.

HSBC Settles Start-Up Loan Fraud Claims

MANHATTAN (CN) — HSBC’s U.S. subsidiary will pay more than $2 million to settle a whistleblower’s claim that it bilked a federal program to boost small businesses by seeking reimbursements for fraudulent loans, prosecutors said Friday. The whistleblower, identified in a settlement stipulation as Jan Orlando, will receive a slightly more than $360,000 share of the $2.1 million deal.

UAE Renewable Energy Startup Enerwhere Raises AED1 Million Loan Via Crowdfunding

Dubai-based commercial solar power company Enerwhere firmly believes that its offerings have the potential to make the world better. But, in order to execute its mission, the capital-intensive entity was smart enough to realize that it needed to look beyond conventional financial institutions and venture capitalists for funds. In January 2017, Enerwhere raised a corporate loan of AED1 million from regional peer-to-peer lending platform Beehive. That’s not all though- the startup managed to crowdfund the entire amount under Beehive’s reverse auction system (which has investors bidding against one another to fund the company’s target, thereby driving down the interest rate) in a few weeks’ time, and also received the entire proceeds in the same week.

Redfin alums net $1M to launch start-up that streamlines home loan process

Approved, a San Diego start-up that aims to make mortgage application documents digital, has received $1 million in pre-seed funding led by Bay Area funds Social Capital and Precursor Ventures. The young company was founded by Redfin alums Andy Taylor and Navtej Sadhal. Redfin is a technology centered real estate brokerage, where Taylor was former director of product development and Sadhal was head of the platform technology and the mobile group.

This Wilmington student loan startup raised $30 million

Applying for college and finding the right student loan to meet your financial needs can be nerve-wracking. College Ave Student Loans, a venture-backed student loan startup based in Wilmington, is launching the Applying for college and finding the right student loan to meet your financial needs can be nerve-wracking. College Ave Student Loans, a venture-backed student loan startup based in Wilmington, is launching the Naked Financial Truth Digital Tour to provide financial advice, strategies and tips for parents and students. Financial Truth Digital Tour to provide financial advice, strategies and tips for parents and students.