Israeli Banks to Offer Small Businesses a Fixed

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Loans help Palestinian grads break into business world

GAZA CITY, Gaza Strip ‘ The Palestinian government is launching’a’$50 million’program to finance micro and small enterprises,’targeting’unemployed college’graduates.The Ministry of Labor in Ramallah in’the West Bank’launched the program Oct. 3, and the’Bank of Palestine‘is allocating the financial portfolio. The Palestinian Fund for Employment and Social Protection (PFESP), in partnership with the ministries of labor and finance, will manage’the program in the Gaza Strip, the West Bank and Jerusalem.

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  • Publisher: Al-Monitor
  • Date: 2018-10-14T05:07:13+00:00
  • Author: Entsar Abu Jahal
  • Twitter: @almonitor
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Square expands its bank-like offerings, letting sellers charge customers in installments

The San Francisco-based tech company announced Thursday it will let businesses using Square’s payment network give customers the option to break big payments into smaller, fixed monthly ones.

“It’s a seamless and transparent way to offer installment payments to customers who might otherwise walk away, or might not be able to buy something in that particular moment,” Square Capital chief Jacqueline Reses told CNBC in a phone interview.

Payment installments, which Reses likened to a “super power” for small retailers, are otherwise offered through a larger bank or third party. This type of loan is typically reserved for retailers who bring in more than $1 million in revenue, and requires a lot of paperwork.

How Chicago Transformed From a Midwestern Outpost Town to a Towering City

In 1833, Chicago was a wilderness outpost of just 350 residents, clumped around a small military fort on soggy land where the Chicago River trickled into Lake Michigan. The site was known to local natives as Chigagou, or the ‘wild garlic place.’ By the end of the century, this desolate swamp had been transformed into a modern metropolis of 1.7 million, known the world over for its dense web of railroads, cruelly efficient slaughterhouses, fiery blast furnaces, and soaring skyscrapers.

Chicago’s rise was so sudden and so astounding that many observers concluded it must have been predestined by nature or God, a view that echoed the 19th-century belief in the inevitability of American expansion and progress known as Manifest Destiny. In 1880, for instance, the former lieutenant governor of Illinois, William Bross, told members of the Chicago Historical Society that, ‘He who is the Author of Nature selected the site of this great city.’ In 1923, in an address to the Geographical Society of Chicago, a University of Chicago geographer, J. Paul Goode, argued that the city’s location made its growth inevitable. His talk was titled ‘Chicago: A City of Destiny.’

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  • Publisher: Smithsonian
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