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How Smartphones Are Changing Small Business Lending

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Two weeks ago, Sarah Eyres, co-owner of Baltimore yarn store Cephalopod Yarns, needed an advance on her small-business loan. She was at a trunk show in Cambridge, Mass., when she discovered that a crucial shipment of yarn — her store’s entire holiday supply — was delayed at the Canadian border. She needed to buy 200 pounds of yarn, enough to last customers a couple of days until the shipment arrived.  Read more about mobile small business lending.

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