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Federal Agencies ask Financial Institutions to Offer Small Loans in Lower Rates

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With pandemic engulfing every economy in the world, America is seeing unemployment rise each passing day. The federal regulators have come out with an initiative under which they are getting banks and credit unions to offer small personal loans at low rates so that there is cash in the hands of the needy.

The Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency have released a joint statement on Thursday. The 5 federal agencies have stated in the statement that they want the financial institutions to come forward and offer small dollar loans to small businesses and the consumers who are in need of money to survive in response to the mayhem caused by Covid 19.

As per the reports by PureLoan, they have asked the financial institutions to structure the new loans in such a way that they offer a list of credit varieties to the small businesses for instance having open-end lines of credit, single payment loans or giving them paying time to submit installments etc.

The regulators are looking at the loans as a relief for the time being for the Americans and have asked them to read and study the papers before they sign the loan contracts. They can also use homeowner’s loan calculator to compare the loan figures by various institutions. Regulators are saying the loans offered should prioritize fair treatment to the consumers and should be safe and sound for them.

These are the worst of times so no matter what the offer is, take a complete review of the documents to refrain from getting exploited by the predatory lenders. Such people exploit people when they are most vulnerable. Be alert and read all the documents before getting into any contract. Or take expert advice if the legal contracts are difficult to understand.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Scaling Success: Why Smart Habits Beat Growth Hacks in Modern eCommerce

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There’s a romanticized image of the eCommerce founder: a daring risk-taker chasing the next big idea, fueled by late-night caffeine and last-minute inspiration. But the reality behind scaled, sustainable brands tells a different story. Success in digital commerce doesn’t come from chaos or clever hacks. It comes from habits. Repetitive, structured, often unglamorous habits.

Change, a digital platform created by eCommerce strategist Ryan, builds its entire philosophy around this truth. Through education, mentorship, and infrastructure, Change helps founders shift from scrambling for quick wins to building strong systems that grow with them. The company doesn’t just offer software. It provides the foundation for digital trade, particularly for those in the B2B space.

The Habits That Build Momentum

At the heart of Change’s philosophy are five core habits Ryan considers non-negotiable. These aren’t buzzwords; they’re the foundation of sustainable growth.

First, obsess over data. Successful founders replace guesswork with metrics. They don’t rely on gut feelings. They measure performance and iterate.

Second, know your customer deeply. Not just what they buy, but why they buy. The most resilient brands build emotional loyalty, not just transactional volume.

Third, test fast. Algorithms shift. Consumer behavior changes. High-performing teams don’t resist this; they test weekly, sometimes daily, and adapt.

Fourth, manage time like a CEO. Every decision has a cost. Prioritizing high-impact actions isn’t optional; it’s survival.

Fifth, stay connected to mentorship and learning. The digital market moves quickly. The remaining founders are the ones who keep learning, never assuming they know it all. 

Turning Habits into Infrastructure

What begins as personal discipline must eventually evolve into a team structure. Change teaches founders how to scale their systems, not just their sales.

Tools are essential for starting, think Notion for documentation, Asana for project management, Mixpanel or PostHog for analytics, and Loom for async communication. But tools alone don’t create momentum.

Teams need Monday metric check-ins, weekly test cycles, customer insight reviews, just to name a few. Founders set the tone by modeling behavior. It’s the rituals that matter, then, they turn it into company culture.

Ryan puts it simply: “We’re not just building tools; we’re building infrastructure for digital trade.”

Avoiding the Common Traps

Even with structure, the path isn’t always smooth. Some founders over-focus on short-term results, chasing vanity metrics or shiny tactics that feel productive but don’t move the needle.

Others fall into micromanagement, drowning in dashboards instead of building intuition. Discipline should sharpen clarity, not create rigidity. Flexibility is part of the process. Knowing when to pivot is just as important as knowing when to persist.

Scaling Through Self-Replication

In the end, eCommerce scale isn’t just about growing a business. It’s about repeating successful systems at every level. When founders internalize high-performance habits, they turn them into processes, then culture, then legacy.

Growth doesn’t require more motivation. It requires more precision. More consistency. Your calendar, not your to-do list, is your business plan.

In a space dominated by noise and novelty, Change and its founder are quietly reshaping the conversation. They aren’t chasing trends but building resilience, one habit at a time.

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