ETA Hosts Online SMB Lending Lunch and Learn Session on Capitol Hill
ETA hosted a lunch and learn session this week on Capitol Hill for policymakers, congressional and regulatory staff and payments technology advocates to learn more about online small business lending.
Small businesses owners need quick and streamlined access to credit to take advantage of opportunities, purchase equipment, and expand their businesses and the American economy. Online small business lenders are financial firms that provide credit to small business owners through automated, technology-enabled platforms. They regularly work with traditional lenders to deliver loans. By leveraging the ubiquity, speed and convenience of the Internet, online small business lenders use sophisticated software platforms to provide American small business owners with fast, easy and affordable credit.
ETA worked with three other trade associations focused on online small business lending – Innovative Lending Platform Association (ILPA), Small Business Finance Association (SBFA) and Marketplace Lending Association – last year to conduct a survey of 750 small business borrowers. The survey showed that small business borrowers who borrowed via online companies were very satisfied and were highly likely to use online platforms again. Click here to read more about the survey and its results.
Expert presenters included Christin Spradley, Head of External Affairs and Associate General Counsel, OnDeck Capital, on behalf of ILPA, Jesse Carlson, General Counsel and SVP, Strategic Funding Source Inc., on behalf of the SBFA, and ETA’s SVP of Government Affairs, Scott Talbott.
Check out our full photo coverage of the event below: