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New Comprehensive Report on the State of Small Business Lending

Former SBA Administrator Karen Mills and Fundera's Brayden McCarthy have published an in depth report on small business lending.

December 5, 2016 By Ryan Lichtenwald 3 Comments

Views: 28

online_small_business_lending_report

A new Harvard Business School Working Paper titled, The State of Small Business Lending: Innovation and Technology and the Implications for Regulation, was released last week. It was written by Karen Mills, former SBA Administrator and current Senior Fellow at the Harvard Business School and Brayden McCarthy, VP of Strategy at Fundera.

The entire paper is over a hundred pages and covers a lot of ground delving into many of the details of the small business lending landscape. To get some background and understand the goals of the paper we spoke with Brayden McCarthy to learn more.

Brayden stated that there were two goals with the paper. The first one was to lay a foundation for regulatory reform, seeking a balance between protecting borrowers and investors in the small business online lending market while at the same time encouraging the innovation that has already led to broader access to credit for small business owners. He noted that 50-100 years ago was when many of today’s regulations were put in place when there was obviously no concept of online lending so it is certainly time for a new framework.

The second goal was to focus on incumbent banks and how they can partner with this new industry. As Lend Academy has discussed in the past, bank partnerships are a big part of the online lending industry and we predict 2017 will be an even bigger year for partnerships. In the paper they put forward their views on what strategies will differentiate the winners from the losers and they go into some detail on the different kinds of partnerships that are in place today.
[Read more…]

Filed Under: Peer to Peer Lending Tagged With: Brayden McCarthy, Karen Mills, Paper, small business lending

Views: 28

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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