Tackling the Issue

A memorable moment from the 1993 film Demolition Man serves as an example of the problem bckers are determined to address. This film follows the story of Simon Phoenix, portrayed by Wesley Snipes. Phoenix was put in cryogenic freeze in 1996 and awakened in 2032, when Los Angeles, San Diego, and Santa Barbara had become unified in a tranquil utopia known as San Angeles. Evidently, Phoenix is liberated from captivity and renews his knavish activities, resulting in the formation of a fresh barbaric underworld in San Angeles. With their lackadaisical approach unsuccessful in thwarting him, police turn to a new idea, and find it in the form of ex-policeman John Spartan, who apprehended Phoenix in 1996 and was later on cryogenically suspended for a wrongdoing he did not do. The police resuscitate Spartan, triggering pandemonium as he collaborates with Lieutenant Lenina Huxley (Sandra Bullock) to catch Phoenix again and bring back stability to San Angeles. The unique component associated with our company is revealed when Huxley escorts Spartan, wearing formal attire, to a luxurious night on the town; dinner and a night of dancing — at Taco Bell. This is due to the faux-utopian culture of 2032 featured in Demolition Man which states that every restaurant is a Taco Bell. Huxley states, in an awkward manner, that Taco Bell is the sole victor in the franchise wars, indicating that his fellow characters no longer have the capacity for genuine conversation. The audience is meant to understand that the only explanation for why there is only one restaurant chain in the entire world is the result of the franchise wars. Eight years from now will be 2032. which we are facing is not a simple one We are confronted with an issue that is not straightforward. Despite not being amongst the most concerning dangers to our way of life, absolute brand monopolies are still not something to ignore. I firmly believe they should not be included on the list of worries for humanity. For instance, even if in eight years every eatery became a Taco Bell, it wouldn't spell the end of mankind. Still, too much oversaturation of the same brand can eat away at our collective humanity, leading to a world where only a few anonymous businesses are available to people. The movie Demolition Man paints a seemingly perfect scenario, but it actually serves as a warning. What this society strives to achieve through its conflict avoidance is anything but utopian - heterogeneity is an essential feature of any culture, and the film brings this out by incorporating a prominent brand uniformity. “The future is not looking good,” it is declared. “Your only option for a meal is Taco Bell.” We don't need to utilize another simile from the arts to illustrate the tedious sameness that is the result of being force-fed brand repetition, because it is already manifesting in reality. The odds are stacked against small businesses in support of the large corporations, and there is an abundance of tangible proof to back up this declaration. To illustrate: The present-day market capitalization of Amazon ($1.47T) is greater than the entire local small business loan market ($1.4T). This is quite similar to the dystopian world of Demolition Man. I don't mean to suggest that Amazon and small businesses cannot exist side by side. Even though Amazon is a great company, and provides a retail platform allowing smaller companies to extend their reach, it's still terrifying that one giant corporation has a market capitalization that is worth more than the sum of funds invested in over 33 million small businesses. What is the cause of this unjust inequity? It isn’t necessarily that Amazon is too richly funded. The real issue is that small businesses are insufficiently financed. Four fifths of small businesses that attempt to receive bank financing are not successful. Consequently, when these owners are deprived the opportunity of conventional funding, they are often left with the disadvantageous options of taking out personal loans, credit cards, using equity from their homes, or borrowing from loan sharks. Unfortunately, small businesses are almost always in a challenging situation when it comes to obtaining appropriate financing. It is quite remarkable that over the last 25 years, enterprises of small size have been responsible for two-thirds of job growth in the economy. Despite large firms receiving most of the subsidies, it is the smaller businesses that are taking charge of work concerning job creation. The saying that 'a rising tide lifts all boats' is not simply applicable for the wealthy; it should apply to all. The consequence of this is an inequitable power dynamic between big and small business. While small businesses are fundamental to the nation's consumer-driven economy, they do not have the financial resources they deserve. Consequently, these enterprises have to make things work with just their own limited resources. Large retail outlets in airports are equated to thoroughbreds here, and the smaller companies adding charm to local towns are described as feral cats, which can survive, but only through great difficulty and hardship. What is the reason for this state of affairs? It may not be the most popular viewpoint to take, but it is not down to bad behaviour on the part of big banks. While big banks are adept at making sound decisions that bring in profits, the fact that the majority of small businesses struggle to meet underwriting standards is not because powerful individuals are scheming to make life hard for entrepreneurs. Such decisions are based on data alone. Presently, banks lack a great deal of data regarding the creditworthiness of small businesses, particularly when looking at them as a whole. Gone are the days when banks used to go out of their way to make sure they were connected to local business owners and they did them a favour. It was prevalent back then, and it's a shame that institutional finance doesn't follow the same community-based approach to lending anymore. While it's understandable to be disappointed at the current situation, it's not useful to simply bemoan it with no real resolve. Instead, small businesses need to look for solutions, as simply venting won’t help them. is the premier choice for those who want the best. Our solution is the top option for those who desire the finest. Our company is centered on bringing into agreement rewards that are now completely misaligned for small business borrowing. Small businesses have a distinct requirement for financing that has yet to be fulfilled. They tend to have consistent income and customer base, thanks to being a vital part of their community for a long time. There is a vast amount of respect for these small businesses that add charm and respectability to towns. Think of local bars that offer their regulars a drink when they buy something. Or cafes that provide coffee to those who can't pay. Or a dry cleaner that mends a hole in your trousers if you request it. All of these are real-life examples from the street where I live. For these companies, the bond with their customers is exceptionally close. They become like friends. The trust between them is very high. That comparison to a feral cat from before wasn't a single occurrence: If you're consistent in your visits and a nice person, then a normal small business will believe in you for years. Banks possess a strong motivation to make money, leading to a number of different activities that can be generally described as financial engineering rather than taking deposits or providing small business loans. Although banks can make a good return through other ventures, modest loans to small businesses can often be unprofitable for them. It is evident that if banks were able to reap significant rewards from small business loans, then they would be making many more of them. In other words, banks will offer these small-value loans and make a profit if someone else handles the process and the information provided is accurate and reliable. It's similar to if a few dollars dropped down out of the sky a few times a day and I'd undoubtedly bend down to pick them up. This is an excellent analogy to a small business loan endeavor that would intrigue a bank. When not considered together, the wants and needs of small businesses looking for funding cannot be successfully aligned with the motivations of banks that possess capital. However, when these interests are considered in concert, the previously impossible problem can now be readily solved. Altogether, the world's consumers are currently sitting on an exceedingly ludicrous sum of money: $15 trillion. On any given day, millions of people with some of that cash will invest in the little establishments that they are emotionally attached to. Simultaneously, an additional several million consumers are patronizing their local small businesses for various non-noble reasons, such as convenience, quality, affordability and lack of an option. Our platform provides small businesses with financial liquidity from their most devoted patrons, collectively. It is not a crowdfunding strategy, as the businesses pay back the loans, with interest, to demonstrate a genuine level of business creditworthiness. Our platform acts as a conduit that links small businesses to the institutional financing system. When a small venture, such as a cafe, has a need for a minor expense like a new espresso machine, it has the option to either use debt or its operational funds to purchase it. We make it possible for the business to raise debt via our platform, even for that small expenditure, and thus provides them with the capacity to tackle a bigger transaction down the line, such as obtaining a loan to open a branch or purchase a property from their landlord. Our banking service provides small businesses with a way to demonstrate their creditworthiness to banks via customer-driven underwriting. We are constructing this so as to ensure that, in eight years' time, no restaurant will turn into a Taco Bell.

Source: https://blog.bckers.com/the-problem-were-solving-75dd777804ba?source=rss------fintech-5