I am the SVP of Partner & Lender Strategy at Lendio, the largest marketplace for small business financing.

In early March, when the word “coronavirus” was still a whisper in the halls of Congress, I was returning from a business development meeting in California to pitch a prospective partner. 

With a new year and new goals fresh in our minds, it seemed almost impossible that a black swan event would change the face of business lending in just a few weeks’ time. Who could have predicted the extent of the crisis beginning to unfold?

Even for companies like mine, which already had a blueprint in place for operating during an economic downturn, this was a shock to the system. We’ve learned a few things since then, and while as an industry we remain cautious, we see this as an opportunity to improve our systems and remain agile.

Rapid

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As this pandemic continued to take its toll, many within the business leadership ranks quickly opted for employee layoffs, or ending hazard pay, while others prioritized wellbeing for employees – or society. The online company culture and salary review website Glassdoor recently analyzed U.S. and U.K. employee reviews during the COVID-19 pandemic to rank the highest CEOs based on their performance during this pandemic. The bottom line was that employees who felt as if they were cared for have responded most positively to their companies’ leaders.

Glassdoor ranked these CEOs based on reviews that were related to work-life balance, flexibility, remote work policies, health benefits, communication and leadership during this crisis. The reviews Glassdoor’s team analyzed were ones left by current and former employees from March to July 2020. The company’s staff mined CEO ratings, how employees reviewed senior leadership, and employees’ comments and reviews to build

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University of Nevada, Reno Extension continues its online town hall and webinar series to assist small-business owners, this week focusing on innovation.

Wednesday’s town halls, at 9 a.m. in English and 2 p.m. in Spanish, will introduce entrepreneurs to the AngelNV, a 2020-2021 start-up accelerator program that prepares both aspiring entrepreneurs and investors. Organizations in the business community, including StartupNV, Nevada SBDC and SCORE, have come together to sponsor AngelNV. 

The entrepreneur part of the program involves 10 weeks of free training in start-up topics. In early December, participants may pay $149 to sign up for the final pitch competition on March 25, where the top six finalists compete for the chance to win their business $200,000. The investor part of the program involves paying $6,000 to become a part of the pooled $200,000 investment, and in doing so, help create a network of  investors, gain exposure to different industries,

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By Maiya Keidan and Megan Davies

LONDON, NEW YORK Sept 25 (Reuters)Stretched valuations and the resulting pullback in equities have prompted more interest in long/short fund strategies that can provide some protection against market declines and wild swings, hedge fund and asset managers say.

The S&P 500 index is down nearly 10% from its Sept. 2 peak, and the burst of selling has prompted some managers to seek more protective strategies. The recent selling followed a run-up in stocks, which regained all their coronavirus-induced losses after unprecedented support from the U.S. Federal Reserve.

Long-short equity hedge funds, which bet on stock prices rising and falling, lost an average of 5.75% in March when markets plunged. But they went on to gain an average of 13.67% in the first eight months of 2020 and were the best-performing strategy in August, according to data from investment bank Nomura.

“We

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RICHMOND, Va. (AP) — A Virginia health official is warning of a “severe public health threat” if a planned campaign rally for President Donald Trump goes forward Friday evening.

Dr. Natasha Dwamena, a Department of Public Health district director, said in a letter Thursday that the 4,000 people expected to attend Trump’s rally at the Newport News/Williamsburg International Airport would be breaking Gov. Ralph Northam’s executive order generally banning gatherings of more than 250 people. She said the rally should be canceled, rescheduled or scaled down to comply with the governor’s order.

“The rally poses a concerning public health risk,” Dwamena said in the letter, which was addressed to the private company that leases the hangar where the rally is set to take place.

Northam’s top health and transportation aides also sent letters Thursday to airport officials around the state reminding them that they have “the authority to enforce” the

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By Clare Jim

HONG KONG, Sept 22 (Reuters)China is tackling unbridled borrowing in the real estate development sector anew with caps for debt ratios. But sources at developers say a rush to get around the rules by moving more debt off balance sheets is on.

Dubbed “the three red lines”, Chinese regulators outlined caps for debt-to-cash, debt-to-assets and debt-to-equity ratios last month at a meeting with 12 major property developers in Beijing. Though not yet officially announced, developers expect the rules to be applied sector-wide as soon as Jan. 1, 2021.

The move has sent shock waves through the industry, sources at four Chinese property developers told Reuters.

“Every company is worried…so everyone is using their own methods, and it’s all about off balance sheet: off balance sheet projects and off balance sheet debts,” an executive at a mid-sized developer told Reuters.

“Liquidity is still abundant, both

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Large institutional investors are seeking around 67 per cent premium to the offer price set by Hexaware Technologies Ltd for delisting from the stock exchanges. The bidding details on stock exchanges show that a few institutional shareholders had put the bids at around ₹460 to 475 per share. The bids are yet to be confirmed.

Hexaware had sought to de-list their shares from the stock exchange at ₹285 per share. Hexaware’s delisting price is nearly three times more than its book value. The share price of Hexaware is traded at ₹423 on Monday.

The promoters and associate firms of Hexaware – HT Global IT Solutions Holdings Ltd and HT Global Holdings BV – had arrived at a floor price of ₹264.97 apiece and were to acquire at an indicative offer price of ₹285 apiece.

Promoters hold around 62 per cent shares in the company and 90 per cent is the

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Even as the mutual fund industry plans to seek more time from SEBI to comply with its new regulations on multicap funds, it is already working on alternative ways to meet the new norms. These include creating a new category called flexi funds and merging schemes to protect investors from any possible negative fallout.

SEBI has made it compulsory for multicap funds to invest 25 per cent each in large-, mid- and small-cap stocks besides increasing the equity exposure to 75 per cent from 65 per cent. SEBI has directed mutual funds to comply with new norms by February.

Until now, to beat the benchmark index, the muticap funds were heavily loaded on top 5-6 companies. These funds had a nominal investment in mid- and small-cap. “It has recently been observed that some multicap schemes have skewed portfolios, with over 80 per cent of investment in large-cap stocks akin to

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Jeff Brennan is hungry for new ideas and best practices that might help his manufacturing business slog its way through the COVID-19 pandemic.

“During this pandemic, you start looking out for different resources to figure out how to get by,” said Brennan, vice president of Stevensville-based Dura Mold Inc., a maker of plastic injection moldings and die cast dies for a variety of industries. 

“We’re in the midst of transformation in our business so we’re looking for things to help us grow and get better so we can emerge from this as a healthy company,” Brennan told MiBiz.

Brennan and Dura Mold are like many manufacturers who are trying to figure out the best way forward amid a turbulent business environment. 

Small and medium-size manufacturers across Michigan are facing unprecedented times and uncertain futures, creating a landscape where virtually all ideas are worth considering.

This quest for

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The owner of New York Sports Clubs plans to seek bankruptcy protection Friday as it grapples with the economic fallout of the COVID-19 pandemic.

Town Sports International Holdings is seeking relief after failing to win tens of millions of dollars in financial aid, Bloomberg reported, citing sources familiar with the matter it didn’t identify.

24 HOUR FITNESS FILES FOR BANKRUPTCY, CLOSES OVER 130 GYMS AMID CORONAVIRUS PANDEMIC

The company — which bills itself as one of the largest owners and operators of fitness clubs in the Northeast — had been attempting to obtain $80 million from Kennedy Lewis Investment Management, Bloomberg reported, but that firm backed out when the gym chain realized the amount wouldn’t be large enough and raised its request to $20 million.

The push for funding comes as the sports club owner looks to refinance a loan due in November, according to the sources. Kennedy Lewis already 

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