LEHI, Utah, Aug. 29, 2024 /PRNewswire/ -- Today Lendio revealed the results of a study ranking the best states for small businesses. Florida came in as the number one state to start a business with Texas and North Carolina coming in second and third.The rankings were based on an analysis of 10 metrics from government and nonprofit sources and Lendio's internal data including startup survival rates, access to business financing, favorable tax environments, and cost of living.Each of the 50 states ranked.Colorado, South Carolina, Ohio, Georgia, Massachusetts, Utah, and Oklahoma also made the top 10 list. While the states that made the top 10 stayed the same from Lendio's 2023 analysis, there were some shifts in the line-up including Florida edging out Texas for the top spot.Hawaii, New Hampshire, and Nebraska ranked as the bottom three states, due to low business funding and venture capital availability, limited local incentive programs, high tax rates, and high cost of living."Small businesses are a critical part of our economy, but they've faced unprecedented challenges in the past five years from a global pandemic to high interest rates," said Brock Blake, CEO and Co-Founder of Lendio. "Despite these challenges, small business owners continue to fight for their dreams and start new businesses in record-breaking numbers. States that create a favorable business environment will benefit from the influx of small businesses opened in the past year."States with the highest ranking by individual metrics include:5-year survival rate: MinnesotaSBA loans approved/ 100K Population: UtahPopulation: Loan offers received through Lendio's marketplace/ 100K population: Wyomingpopulation: Venture capital/ $1 million GDP: MassachusettsGDP: Lowest corporate tax rate: ArkansasMost business incentives: MarylandGreatest population gains: FloridaMost educated workforce mobility/ 100K population: Coloradopopulation: Lowest housing costs: West VirginiaGreatest personal consumption expenditures: CaliforniaSee the full report for a breakdown of each state and the methodology behind the rankings.About LendioLendio is transforming small business lending by connecting small businesses, lenders, and small business service providers through a single integrated technology platform

Lama AI and Bridge have partnered to expand the availability of commercial loans. With this collaboration, the financial institutions using Lama AI’s artificial intelligence (AI)-powered origination technology will be able to access Bridge’s marketplace that connects business owners and lenders, the companies said in a Wednesday (Aug. 21) press release. This offering will enable banks to grow their portfolio through diversified deal flow sources and increase efficiencies around prequalification and end-to-end origination, according to the release

FIS and Neural Payments have partnered to help banks offer peer-to-peer (P2P) payment capabilities to their customers. This collaboration will make Neural Payments’ P2P payment solution available via FIS’ NYCE debit rails, enabling more financial institutions to access it, the companies said in a Thursday (Aug. 15) press release. “This combination of our industry reach and our NYCE debit rails with Neural Payments’ innovative technology will greatly help streamline money movement for today’s economy and the increasingly digital consumer,” Chris Como, head of cards and money movement at FIS, said in the release