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Tuesday, September 29, 2015

Small Businesses’ Perceptions and Understanding of Online Alternative Loan Products: Findings from Online Focus Groups

Date:
9/29/2015
Time:
Eastern 3:00 PM - 4:00 PM
Central 2:00 PM - 3:00 PM
Mountain 1:00 PM - 2:00 PM
Pacific 12:00 PM - 1:00 PM
Alaska 11:00 AM - 12:00 PM
Hawaii 9:00 AM - 10:00 AM
Session Description:

The marketplace for small dollar lending to small businesses is transforming as access to capital moves to online sources. Online alternative lenders (e.g., CanCapital, OnDeck, Lending Club, Kabbage, PayPal) offer small dollar, small business products including cash advances, online lines of credit and a variety of short-term loans. Technology and online platforms are changing virtually all small business lending processes from underwriting, to loan pricing, to loan delivery, to loan servicing. To help shed light on this growing, crowded and potentially confusing marketplace, an online focus group of small businesses that are potential online borrowers was asked about their perspectives and understanding of this relatively new marketplace. 

Join two national experts to learn about this study and the details of its findings as well as their possible implications.

  • Speakers:      
    Barbara Lipman, Senior Supervisory Analyst, Division of Consumer &
    Community Affairs, Federal Reserve Board
  • Ann Marie Wiersch, Senior Policy Analyst, Community Development Office, Federal Reserve Bank of Cleveland
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