Fintech, Small Business & the American Dream

Fintech, Small Business & the American Dream
Author :
Publisher : Springer
Total Pages : 202
Release :
ISBN-10 : 9783030036201
ISBN-13 : 3030036200
Rating : 4/5 (01 Downloads)

Book Synopsis Fintech, Small Business & the American Dream by : Karen G. Mills

Download or read book Fintech, Small Business & the American Dream written by Karen G. Mills and published by Springer. This book was released on 2019-03-12 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: Small businesses are the backbone of the U.S. economy. They are the biggest job creators and offer a path to the American Dream. But for many, it is difficult to get the capital they need to operate and succeed. In the Great Recession, access to capital for small businesses froze, and in the aftermath, many community banks shuttered their doors and other lenders that had weathered the storm turned to more profitable avenues. For years after the financial crisis, the outlook for many small businesses was bleak. But then a new dawn of financial technology, or “fintech,” emerged. Beginning in 2010, new fintech entrepreneurs recognized the gaps in the small business lending market and revolutionized the customer experience for small business owners. Instead of Xeroxing a pile of paperwork and waiting weeks for an answer, small businesses filled out applications online and heard back within hours, sometimes even minutes. Banks scrambled to catch up. Technology companies like Amazon, PayPal, and Square entered the market, and new possibilities for even more transformative products and services began to appear. In Fintech, Small Business & the American Dream, former U.S. Small Business Administrator and Senior Fellow at Harvard Business School, Karen G. Mills, focuses on the needs of small businesses for capital and how technology will transform the small business lending market. This is a market that has been plagued by frictions: it is hard for a lender to figure out which small businesses are creditworthy, and borrowers often don’t know how much money or what kind of loan they need. New streams of data have the power to illuminate the opaque nature of a small business’s finances, making it easier for them to weather bumpy cash flows and providing more transparency to potential lenders. Mills charts how fintech has changed and will continue to change small business lending, and how financial innovation and wise regulation can restore a path to the American Dream. An ambitious book grappling with the broad significance of small business to the economy, the historical role of credit markets, the dynamics of innovation cycles, and the policy implications for regulation, Fintech, Small Business & the American Dream is relevant to bankers, fintech investors, and regulators; in fact, to anyone who is interested in the future of small business in America.


Fintech, Small Business & the American Dream Related Books

Fintech, Small Business & the American Dream
Language: en
Pages: 202
Authors: Karen G. Mills
Categories: Business & Economics
Type: BOOK - Published: 2019-03-12 - Publisher: Springer

DOWNLOAD EBOOK

Small businesses are the backbone of the U.S. economy. They are the biggest job creators and offer a path to the American Dream. But for many, it is difficult t
International Tourism and American Small Business
Language: en
Pages: 76
Authors: United States. Congress. House. Committee on Small Business. Subcommittee on Export Opportunities and Special Small Business Problems
Categories: Small business
Type: BOOK - Published: 1986 - Publisher:

DOWNLOAD EBOOK

Efforts to Increase the Volume of American Small Business Exports
Language: en
Pages: 112
Authors: United States. Congress. House. Committee on Small Business. Subcommittee on Development of Rural Enterprises, Exports, and the Environment
Categories: Business & Economics
Type: BOOK - Published: 1993 - Publisher:

DOWNLOAD EBOOK

How to Start a Business in Colorado
Language: en
Pages: 0
Authors: Entrepreneur Press
Categories: Business & Economics
Type: BOOK - Published: 2007-07-09 - Publisher: Entrepreneur Press

DOWNLOAD EBOOK

SmartStart Your Business Today! How to Start a Business in Colorado is your road map to avoiding operational, legal and financial pitfalls and breaking through
Sovereign Entrepreneurs
Language: en
Pages: 309
Authors: Courtney Lewis
Categories: Social Science
Type: BOOK - Published: 2019-04-10 - Publisher: UNC Press Books

DOWNLOAD EBOOK

By 2009, reverberations of economic crisis spread from the United States around the globe. As corporations across the United States folded, however, small busin