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Helping The Smallest Businesses Navigate Credit – And Taxes

Helping The Smallest Businesses Navigate Credit

The gig economy is gaining ground, as an increasing number of workers have specialized skill sets. But even the savviest of individuals may need help navigating what they owe to Uncle Sam at the end of a gig, at the close of the quarter or on April 15. Likewise, small business owners need credit to help them get operations in place to get top lines flowing. As relayed in recent coverage and interviews with Fundbox and Keeper Tax, the needs (and opportunities) are significant.

Data:

$1.4 trillion: Value of the small business lending market as estimated by the CFPB.

$3,500: Amount it may cost a bank to underwrite a loan through traditional means.

40 percent: Number of small business owners with a  “less than pristine” credit score, as estimated by Fundbox.

20 percent: Keeper Tax’s estimate of gig workers’ tax “overpayment.”

32.2 percent: Share of gig economy workers with specialized skills, measured at the end of 2018.

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