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Uniting to save small businesses
First-year student’s small business investment app wins Schmidt Futures support
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First-year student Steven Wang launched UsTogether, a startup that provides an easy way for people to invest in the long-term financial health of the small businesses they care about. (Photo provided by Steven Wang)
Ninety-five percent of small businesses nationwide took a financial hit from COVID-19 in 2020, with 26 percent temporarily closing and 56 percent reducing operations, according to a survey by the Federal Reserve.
Many of those small businesses struggled to access financing from traditional lenders and have relied on community support to stay afloat. But individuals who want to support a business in their neighborhood often don’t know how to help beyond contributing to occasional, one-time fundraisers. ....

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