Day: September 25, 2020

COVID-19 takes a grim toll on America’s small businesses

Brunetti’s Pizza and Deli opened in Scranton, Pa., in 1958 and was so beloved by the community that customers would volunteer to shovel its sidewalk on snowy days. Mike Brunetti, the son of the founder, and his wife Therese took over the operation. They got engaged in the shop and their kids all worked there.

Then came COVID. Shuttered in March, Brunetti’s had no revenues until May, when it reopened. The owners kept up their payments to suppliers, but sales were vastly reduced because of the shop’s small size and social-distancing requirements. Even a $14,000 loan under the federal government’s Paycheck Protection Program wasn’t enough.

This summer, with just $100 in the bank, Therese said they had no choice but to shut Brunetti’s permanently.

The couple has only a small nest egg and no pension. Therese is now looking for work.

“My husband and I sat many nights in

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Project Finance Startup Unety Partners With ecoAmerica to Save 16 Million Metric Tons of CO2

NEW YORK, Sept. 24, 2020 /PRNewswire/ — Unety, a novel platform that democratizes financing to upgrade commercial buildings, today announced the launch of a nationwide partnership with ecoAmerica, one of America’s largest environmental non-profits serving several sectors including the faith community. As the technology backbone for ecoAmerica’s Blessed Tomorrow program, a nationwide initiative that helps faith denominations and their 87,000 houses of worship to lead on climate and reduce their carbon footprint, the Unety platform will make it easy for member organizations to achieve their environmental commitments, upgrade their buildings for future generations, and better leverage their properties to survive these hard times. 

Unety is a SaaS-enabled marketplace, utilizing AI to automate project development by intelligently guiding projects to thousands of qualified project-delivery professionals and billions of dollars of project funding. Driven by a proprietary data engine that instantly identifies, qualifies, and connects contractors and capital providers to property

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Health insurance startup Oscar Health is gearing up for a 2021 IPO

  • Oscar Health, the health insurance company cofounded by Joshua Kushner and Mario Schlosser, is prepping for a public listing in 2021, says Axios.
  • The New York-based company initially aimed to provide coverage under the Affordable Care Act at the beginning of its launch in 2012, but has since expanded into other health insurance markets. 
  • It’s raised around $1.5 billion from major venture capital firms, including Thrive Capital, Alphabet, and Founders Fund, and is now hiring banks ahead its plans to go public. 
  • Though the move isn’t a surprise in today’s startup IPO market, it’s suspected to be loosely tied to the election, as the winning candidate may work to shake up the health insurance industry.
  • Visit Business Insider’s homepage for more stories.

Oscar, the health insurance company cofounded in 2012 by Joshua Kushner and Mario Schlosser, has hired banks to help the firm go public in 2021, Axios has learned

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