Connect with us

Crowdfunding

[Signals Analytics in Ai Thority] Signals Analytics Powers The Future Of Market Intelligence

Avatar

Published

on

Crowdfunding

Biz2Credit Teams Up With AICPA & CPA.com to Launch New Small Business Funding Platform

Avatar

Published

on

Small business funding platform Biz2Credit announced on Tuesday it is teaming up with the American Institute of Certified Public Accountants (AICPA), its business and technology arm, CPA.com, to launch a new small business funding platform, CPALoanPortal.com. According to Biz2Credit, the platform was created to help with the process for CPA firms advising small businesses both on loan forgiveness under the Paycheck Protection Program (PPP) and additional small business financing options.

Biz2Credit also explained that the platform adds new CPA-centric capabilities to the automated PPP loan forgiveness tool the companies introduced in July that has been used by over 30,000 borrowers and more than 5,000 CPAs and financial professionals.

[The platform] incorporates the PPP forgiveness calculator developed by the AICPA and is available to any business approved for a PPP loan. The platform produces all government forms required under the PPP program, supports calculations on payroll and other expenses, and produces a master report with the applicant’s electronic signature that can be delivered to the underwriting lender.”

The basic loan forgiveness tool is included in CPALoanPortal.com, with enhanced functionality now available specifically for CPA firms to support clients more efficiently. These features include:

  • Functionality that allows firms to easily aggregate clients, customize engagements and track progress on loan and financing applications
  • Integration to additional lending options for clients
  • Enhanced customer service for CPA firms

Two subscription tiers, premium and enterprise, are also available based on the number of users and volume of loan applications a firm is managing. The original basic loan forgiveness application service remains free. Speaking about the platform,  Biz2Credit CEO Rohit Arora, added:

“The PPP loan forgiveness process is only the start of the journey to recovery for many small businessesMany will need continued support and sound financing as the economy continues to slowly recover from the impact of the pandemic. That’s why the additional lending options we’re providing in CPALoanPortal.com are critical. It’s also crucial that CPAs play a key role in guiding small businesses through these decisions, particularly when it comes to financing. We’re committed to helping firms serve their clients better at this critical time and in the future.”

Source: https://www.crowdfundinsider.com/2020/09/167132-biz2credit-teams-up-with-aicpa-cpa-com-to-launch-new-small-business-funding-platform/

Continue Reading

Crowdfunding

Transferwise is Saving US Customers Lots of Money Compared to Other Fintechs (and Banks)

Avatar

Published

on

Transferwise, a UK based Fintech that has gone global, has distributed a note promoting the savings it can generate for US customers.

Transferwise is a Fintech that allows you to quickly and inexpensively transfer money anywhere – minus hidden fees and silly exchange rates. The company is also an emerging digital bank as it is anticipated to add investment features in the UK at some point in the not so distant future. The company recently published its annual report indicating the 4th year of profitability (read sustainability).

According to the release, Transferwise is targeting the $8.7 billion Americans lose each year when they use competitors when sending money, or spending money, abroad. The company reports that it is estimated that consumers and SMEs paid over $16.3 billion in 2019 in fees on foreign exchange. Of this, about $7.6 billion are shown as transaction fees, but more than half – about $8.7 billion – are hidden as exchange rate markups on conversions, payments, and card purchases. That’s not a small sum.

Transferwise states that 9 in 10 consumers do not understand the true cost of sending money internationally. Shockingly, 20% think it is completely free. It’s not.

According to Transferwise, in 2019:

  • Consumers sending money to friends and family in other countries (also known as remittances) spent more than $7.3 billion to move their own money, of which $2.2 billion is hidden in exchange rate markups.
  • Travelers on vacation spent more than $3.2 billion in fees on foreign exchanges, of which $2.1 billion is hidden in exchange rate markups.
  • Small businesses spent more than $2.4 billion on foreign exchange, of which $2.3 billion is hidden in exchange rate markups.

When comparing Transferwise to three of the largest retail banks and payment providers in the US, Transferwise came out on top. In fact, Transferwise says it is 7 times less expensive to use their services. Additionally, their fees to withdraw $500 and $1000 USD from an ATM are said to be up to 2 times cheaper. TransferWise can be up to 12 times cheaper to keep an account open each month.

While Transferwise is not always the cheapest way to move money around, on average, the Fintech typically comes out on top. Transferwise consistently crushes PayPal when it comes to transfers. If you are curious as to the cost of a transfer you may visit the Transferwise comparison page here.

The company also offers a growing number of services including a borderless account.

Kristo Käärmann, CEO & co-founder, TransferWise explains:

“Today’s findings expose the total lack of transparency in the foreign exchange industry. When banks and remittance firms hide fees in exchange rate markups and manipulate the cost for their benefit, it’s the consumer that’s negatively affected. American customers deserve to know how much they are charged – it’s a basic principle of business. TransferWise is calling on Congress to put a stop to the lack of transparency in international payments by banks and other money providers. It’s unfair and misleading. Congress should step in to make sending and spending money abroad easier, cheaper and fairer, for all of us.”

Recently, the European Union implemented rules to eliminate hidden exchange rate markups. The Australian government also has issued a report on the lack of transparent pricing and hidden fees in international payments. As well, the United Kingdom is in the process of creating new transparent disclosure standards. Transferwise, and others, believe the United States should do the same.

Cost of sending $5000 from the US to the Eurozone

Cost of sending $5000 from the US to the UK

Source: https://www.crowdfundinsider.com/2020/09/167128-transferwise-is-saving-us-customers-lots-of-money-compared-to-other-fintechs-and-banks/

Continue Reading

Crowdfunding

Real Estate Crowdfunding Marketplace DiversyFund Announces Significant Growth in 2020 Amid COVID-19 Pandemic

Avatar

Published

on

DiversyFund, a real estate crowdfunding marketplace, announced on Tuesday it has undergone a period of significant growth in 2020 despite the COVID-19 pandemic. The funding platform reported it saw an increase in customers this year and surpassed the 13,350 milestone. DiverseyFund further noted that it has responded to the growth by expanding its team to include two new senior leadership positions.

Launched in 2016, DiversyFund claims it is on a mission to help everyday investors build wealth like the 1%.

Through our online platform, we are democratizing alternative asset investing by breaking down traditional barriers to entry, such as eliminating broker fees and high minimum investments.We open up access to multi-million dollar commercial real estate investments to everyone and provide them with the opportunity to diversify their portfolio beyond stocks and bonds.”

Speaking about the growth, Craig Cecilio, CEO of DiversyFund stated:

“During times of heightened economic uncertainty, wealth gaps increase, so it’s no surprise that we’ve seen such interest in our investor-first, wealth-building platform. The everyday consumer is seeing the year 2020 — a time when political, social, and economic unrest is converging — as a crucial moment to build long-term wealth.  The 99% are demanding access to high-quality investments and the ability to attain financial freedom.”

DiversyFund also noted that it urrently has $25 million in AUM and approximately $75 million in real estate assets under management. Cecilio added:

“Now is the time to truly democratize investing through technology. With our bolstered team and new features, we’re providing accessible financial education for all, while working towards our core mission – closing the wealth gap. Technology is at the core of equalizing investing, so we are constantly developing our capabilities to enable our community to invest like the 1%.”

Source: https://www.crowdfundinsider.com/2020/09/167124-real-estate-crowdfunding-marketplace-diversyfund-announces-significant-growth-in-2020-amid-covid-19-pandemic/

Continue Reading
AI1 hour ago

How Artificial Intelligence Can Bring Online Casinos to the Next Level

Techcrunch6 hours ago

WeWork sells majority stake in Chinese entity, seeks localization

Blockchain6 hours ago

Ripple Aims To Expand Its Financial Institutions Network

CNBC6 hours ago

Seagate’s 1TB Game Drive for Xbox Series X, Series S costs $220

Automotive7 hours ago

Mobileye signs driver-assistance deal with Geely, one of China’s largest privately-held auto makers

Automotive7 hours ago

2021 Acura TLX First Drive | The mojo is returning

Techcrunch8 hours ago

Facebook gives more details about its efforts against hate speech before Myanmar’s general election

CNBC9 hours ago

TikTok ask the court to prevent a US ban from taking effect

CNBC9 hours ago

ByteDance applies for export license from China as TikTok deal waits for approval

CNBC9 hours ago

Nintendo just surprised Switch owners by releasing ‘Kirby Fighters 2’

CNBC10 hours ago

Stock futures little changed following sell-off on Wall Street

Blockchain10 hours ago

These 4 Trends Show That Bitcoin’s Likely to Move Higher After 20% Drop

Blockchain11 hours ago

RockX Launches $20M Investment Program to Support Polkadot

CNBC11 hours ago

Economist Stephen Roach issues new dollar crash warning, sees double-dip recession odds above 50%

CNBC12 hours ago

Jim Cramer on GoodRx’s IPO: Start buying if the stock pulls back a little

CNBC12 hours ago

‘Among Us’ developers cancel sequel plans, focus on their new/old smash hit

CNBC12 hours ago

Trump won’t commit to peaceful transfer of power if he loses the election

Blockchain12 hours ago

Here’s the Crucial Level Bitcoin Needs to Close Above to Kick Off Its Uptrend

Techcrunch12 hours ago

New report finds VC investment into climate tech growing five times faster than overall VC

Startups13 hours ago

Peterson Ventures, a firm that quietly backed Allbirds and Bonobos, just closed a $65 million fund

CNBC13 hours ago

JPMorgan to pay almost $1 billion fine to resolve US investigation into trading practices

AI13 hours ago

Gaining insights into winning football strategies using machine learning

CNBC13 hours ago

‘Amnesia: The Dark Descent’ and its sequel go open source

CNBC13 hours ago

Should front-line medical workers get the coronavirus vaccine first? Not necessarily

CNBC14 hours ago

VW unveils new global ID.4 electric SUV; U.S. production starts in 2022

Big Data14 hours ago

Machine learning and its impact in various facets of healthcare

CNBC14 hours ago

Stocks making the biggest moves after hours: Tesla, Dollar Tree, Jefferies Financial Group & more

CNBC14 hours ago

Google will try ‘hybrid’ work-from-home models, as most employees don’t want to come in every day

Blockchain15 hours ago

Analyst: Ethereum May Grind to $280 Before ETH 2.0 Hype Propels It Higher

SaaS15 hours ago

Email Marketing Consulting

Automotive15 hours ago

Autoblog is turning beautiful car photos into jigsaw puzzles

Author profile picture
Publications16 hours ago

To Remote Work or Not to Remote Work: That is the Question

Automotive16 hours ago

2021 Rolls-Royce Ghost has a fascinating new part to make it one of the most comfortable cars in the world

Visual Capitalist17 hours ago

The New Rules of Leadership: 5 Forces Shaping Expectations of CEOs

Twitter social icon
Publications17 hours ago

How to Measure your Trading Strategy Returns

how-to-improve-organic-ranking-by-resolving-wrongly-ranked-pages.png
Publications17 hours ago

How To Improve Organic Ranking By Resolving Wrongly Ranked Pages?

Automotive17 hours ago

Join Autoblog AMA on Thursday at noon ET | Bring your Bronco, Tesla, ID.4 and any other questions

Author profile picture
Publications17 hours ago

4 Reasons Why Email Is Obsolete, and You Should Move On

death-taxes-and-password-negligence-the-inevitability-of-pwned-passwords.jpg
Publications17 hours ago

Death, Taxes, and Password Negligence: The Inevitability of Pwned Passwords

Automotive17 hours ago

Why the Volkswagen ID.4 is a Very Big Deal

Trending