Traditional thinking says that the risk banks make lending to small companies rarely outweighs the profits. Recent relationships between the small business community and fintech startups are causing lenders to reevaluate this line of thought.
In July 2016, in the small town of Duncan, Arizona, the last bank branch in the town closed its doors. They direct traffic to their nearest branch… 40 miles away. It is a popular belief nowadays that bank branches are on their way out and digital banking is taking its place, but are we looking at the whole picture? Don’t community banks offer a lot more to the communities they serve than just a place to make deposits?
Although there was a slight dip in December, the NFIB (National Federation of Independent Business) Small Business Optimism Index saw one of the highest yearly survey readings in 2019 since the creation of the survey in 1973. According to the December survey results, “an increased number of small business owners reported better business conditions and expect higher nominal sales in the next three months,” and “small businesses continued to hire and create new jobs with actual job creation.”
Ringing in the new year (and new decade!) is cause for celebration—spending time with friends and family and looking back on the year. A lot can happen in a year, good and bad. With reflection comes new beginnings and fresh starts.
Wishing you a Christmas filled with love and laughter that lends way to a bright and fresh New Year. May this season be filled with an abundance of peace, joy, and hope for you and yours. Merry Christmas and Happy Holidays from everyone at Teslar! We are grateful to you for making our progress possible.
The air is filled with good vibes and glad tidings at Christmastime. There are so many fun activities and events unique to the season, and while it’s not possible to do them all, it’s fun to deliberate and choose some that are special to you and yours. Whether you’re looking for new traditions or wanting to change up some standing ones, we’ve got you covered.
The Christmas season is a uniquely busy time of year. It seems like every single day in December a new event or task is being added to the calendar—holiday parties, family dinners, children’s performances, cookie exchanges, gift shopping, holiday traditions, Secret Santa’s, tree decorating… the list goes on and on. It often begins with the best intentions: time together, fun memories, and a wonderful holiday season for our family.
The Census Bureau collects household information in order to understand the nation’s people and economy. The data describes where people live, their living arrangements, ages, income, education level, commuting patterns, and occupations.1 This information helps all members of the community in different ways. Following the constitutional mandate of equal population representation, the data is used to apportion seats in the House of Representatives and draw district boundaries. Conducting a census every ten years is required by the U.S Constitution.
For the first time in ten years, the Federal Reserve cut interest rates this past July. Then again in September… and then again in October. Prior to these cuts, rates had been steadily rising. The quick and sudden shift in the direction of interest rates has left financial service providers re-strategizing how to grow deposits in the coming year.
Most of us have resigned to going for broke when it comes to the holiday season. We often overlook just how many people we need to buy for, just how much food we need buy, and all the parties we need to attend. Try budgeting first to see how much you have available to spend and remember all the small details that add up. We tend to miss minor expenses like postage for Christmas cards, ingredients for cookie exchanges, home décor, travel expenses, etc. Most importantly, set a realistic budget. Don’t make it too tight.