Small businesses need ‘flexible repayment solutions’ to survive next 18 months

Photo: Dominic Lipinski/PA Wire/PA Images
Photo: Dominic Lipinski/PA Wire/PA Images

Small businesses need “flexible debt repayment schemes” in order to survive the next 18 months, a leading industry report claims.

The quarterly SME lending monitor, by online business funding marketplace Funding Xchange, highlights the need to address the stresses currently experienced by up to 40% of the businesses who have borrowed from alternative lenders.

Funding Xchange is an online portal which directs small businesses unable to access funding from their high street bank to other lending providers.

The data shows two out of every five businesses that currently have loans from “alternative lenders” are now in discussion with the lenders, as they are struggling to fulfil their repayment programmes as a result of the coronavirus lockdown impact.

“Alternative lenders” have provided another option for business who are unable to access funds from their high street bank.

They established themselves following the last financial crash, as

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Last chance! Wake up feeling refreshed (not achy) with Casper’s 4th of July mattress sale

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Casper has the mattress of your dreams, and it’s on sale for the 4th of July. (Photo: Casper)
Casper has the mattress of your dreams, and it’s on sale for the 4th of July. (Photo: Casper)

How’s your back? If you’re like most of us, these last few months of less activity (and more staying in) have meant noticeable aches and pains. Add to that the stress of sleeping on an old mattress and you might find your back in a constant state of discomfort. 

While core exercises are never a bad idea, no amount of Zoom fitness will fix your back if your bed is the root of the problem. Of course now is not the time to visit mattress stores and plop down Goldilocks-style in search of a match. But it IS

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Coronavirus pandemic may lead to couples putting off divorce, survey finds

Getty Images/iStockphoto
Getty Images/iStockphoto

The coronavirus pandemic could lead to married couples who were previously considering divorce to delay proceedings, a survey has suggested.

In April, YouGov carried out a poll of more than 1,000 adults across the UK who had previously been divorced.

The participants were asked whether the virus outbreak would influence their decision to divorce their partner.

Of the respondents, 28 per cent said they would be less likely to pursue divorce due to the Covid-19 crisis.

A small percentage (6 per cent) said that the pandemic would make them feel more inclined to go through divorce proceedings, while the rest said it would either not be a factor in their decision or they did not know if it would be.

The survey of 1,005 adults, which was conducted for family law firm Ampla Finance, also find a marked difference between the way in which women and men felt

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Virus, Floyd death merge in brutal blow to Black well-being

Doctors have known it for a long time, well before the resounding cries of “Black Lives Matter”: Black people suffer disproportionately.

They face countless challenges to good health, among them food, transportation and income. The stress of living with racism has very real, physical effects. And they are especially prone to diabetes, hypertension and other chronic diseases that can be tricky to manage even in normal times.

Then came COVID-19 and George Floyd — one killing Black people in alarming numbers, the other shining a harsh light on systemic racism. In a matter of months and nearly 8 minutes, it became clear that institutions designed to ensure the two most important things in life — health and safety — had converged to turn against one segment of the population in stark, horrific ways.

It’s a brutal blow to Black people’s well-being and renewed calls for racial justice in all realms

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An Easy, No-Frills Option for Online Banking

Although the word “bank” was once synonymous with a physical location, the reality is that more and more banks occupy only digital space. Varo, founded in 2015, is one of the many options available to today’s bankers — if they’re willing to forgo the ability to visit an actual bank building, that is.

Like other online-only banks, Varo offers deposit and checking accounts with low fees and high interest-earning rates, making it an attractive alternative to more traditional banking.

However, Varo doesn’t offer small business banking, credit cards, loans, or other extras that may be necessary for some customers, and the way it handles cash deposits is clunky and costly.

If you’re in the market for a new personal bank account, read on to learn whether or not Varo might be a fit.

In this review:

Varo Bank Review: The Pros and Cons

Here’s what we loved about Varo —

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Small businesses need ‘flexile repayment solutions’ to survive next 18 months

Photo: Dominic Lipinski/PA Wire/PA Images
Photo: Dominic Lipinski/PA Wire/PA Images

Small businesses need “flexible debt repayment schemes” in order to survive the next 18 months, a leading industry report claims.

The quarterly SME lending monitor, by online business funding marketplace Funding Xchange, highlights the need to address the stresses currently experienced by up to 40% of the businesses who have borrowed from alternative lenders.

Funding Xchange is an online portal which directs small businesses unable to access funding from their high street bank to other lending providers.

The data shows two out of every five businesses that currently have loans from “alternative lenders” are now in discussion with the lenders, as they are struggling to fulfil their repayment programmes as a result of the coronavirus lockdown impact.

“Alternative lenders” have provided another option for business who are unable to access funds from their high street bank.

They established themselves following the last financial crash, as

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Washington reckons with tributes to racist past

<span>Photograph: Kevin Lamarque/Reuters</span>
Photograph: Kevin Lamarque/Reuters

Gordon J Davis’s first encounter with the political writings of Woodrow Wilson was as a student at Columbia University. “I’m reading this stuff and saying: ‘That’s a great man,’ and mentioned it to my father who said: ‘Well, he wasn’t such a great man to us,’” recalls the 78-year-old Davis, who is a senior lawyer in New York. “He didn’t say much more about it but then, all these years later, you find out how totally corrupt and racist he was.”

There is no shortage of tributes to Wilson in Washington – a leading thinktank, a high school, a house museum – and he is the only US president buried in the nation’s capital. But in the wake of the police killing of George Floyd, Black Lives Matter protests and a mass awakening to systemic racism, his legacy of white supremacy is under scrutiny as never before.

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Would You Pay $7,500 to Educate Your Kid Like Elon Musk’s?

Photo Illustration by The Daily Beast / Photos Getty
Photo Illustration by The Daily Beast / Photos Getty

The novel coronavirus has shattered education in America, leaving millions of parents struggling to cope with childcare and remote classes. Naturally, tech billionaires have taken it upon themselves to fill the void.

But while Facebook’s Mark Zuckerberg pledged $6 million to education projects, and Twitter CEO Jack Dorsey gave $10 million to provide devices and connectivity to students in California, Elon Musk is helping launch an online school targeted at the relatively wealthy.

The online Astra Nova School, which is slated to open its virtual doors in September, would succeed an ultra-exclusive school that operated out of Musk’s SpaceX rocket factory until recently and had many of the same staff. It’s a model experts on the intersection of education and inequality said was not exactly in keeping with the most urgent needs of this pandemic moment.

Starting in 2016, Ad Astra

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PortMiami renegotiates terminal deals, local workers brace for more cruise-less months

Just last November, PortMiami was bustling with construction workers bringing to life five new cruise terminals and two cruise company headquarters. Future cruise business was all but guaranteed: Fiscal year 2020 was set to break the port’s 2019 record of 6.8 million passengers, up 22 percent from 2018.

The county agreed to pay $700 million toward the projects, and the cruise companies — Carnival Corporation, Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings, MSC Cruises and Virgin Voyages — agreed to repay the county $5.8 billion over the next 20 to 62 years.

In November, port director Juan Kuryla described the deals as “iron clad.” When asked by the Herald what would happen to the promised return on investment if for some reason cruise ships were only half full or if the ships did not to come to Miami at all, Kuryla said the companies would still be on the

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What are Hongkongers going to do with their HK$10,000 payout? Bet on the stock market, from the looks of it

Starting this week, each permanent resident of Hong Kong will be eligible to receive HK$10,000 (US$1,290) in a one-time cash payout, part of the government’s HK$55 billion financial stimulus to help the city survive its worst recession on record.

Hong Kong’s Financial Secretary Paul Chan Mo-po, the architect of the financial disbursement, would prefer the city’s residents to spend that money dining out, shopping, travel locally or pay for their utility bills. Chances are that Hongkongers will redirect that money towards the stock market, where they can put it to better use in one of Asia’s cheapest bourses, and to subscribe for two dozen initial public offerings (IPOs) in the pipeline.

“I will use it to invest in the stock market at the right time,” said Irene Chan, a white-collar professional working in the Central business district. “HK$10,000 is not a large sum of money. My aim is to double

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