I am covering today for Jessica Ellerm.
It is the best of times and the worst of times in Small Business Finance.
Best of times: Small Business Finance is a window of opportunity big enough to drive a truck through. This remains as true today as it was when we first articulated it about about 4 years ago and the market has grown a lot since then.
Worst of times. The pandemic has hit Small Business the hardest. The trend towards a leveling of the playing field field between big and small businesses got side swiped by the pandemic. The businesses we all love as consumers, the retail shops, bars, restaurants, hairdressers etc have been hit a lot harder than big businesses (particularly those with digital products).
This matter to all of us who care about a healthy society based on a vibrant Small Business sector.
Thankfully, one sector of Small Businesses is doing better which is those companies who supply to big companies. They can benefit from Supply Chain Finance, which we have covered many times.
Supply Chain Finance is one part the Trade Finance which has historically been a huge money-spinner for banks. Banks, asleep at the switch once again, have ceded the market to specialist startups.
Today’s news is about Prime Revenue which announced it “has been granted U.S. Patent Number 10592943 titled “Supply Chain Finance System.””
It looks like Prime Revenue plans to use patents aggressively. Their Press Release states that “the company has multiple additional patents pending for its working capital finance solutions.”
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