Using Dating Tech to Hook Up Entrepreneurs with Funding
Matchmaking technology isn't exclusive to the dating world. SourceFunding.org is using the same idea to hook up entrepreneurs with funding. The company's CEO, Michael Short, was with us to share why it's a big deal to innovate lending to small businesses.
SourceFunding.org isn't the only company looking to give small-business owners capital. Amazon is stepping up its efforts in lending recently by partnering with Bank of America. Short said his platform solves the inefficiency in small business lending by offering a common application that exposes the companies to over 14,000 potential trusted and transparent lenders.
It was reported that Amazon Lending annual rates typically range from 6% to 14%. Short said rates on his platform are very competitive to Amazon's. He emphasized transparency and pointed out that 1 in 5 small businesses apply for loans from predatory online lenders.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
