- 08 Dec 2016
- Cold Call Podcast
Wayfair has been around since the early days of ecommerce. But what now exists as a single, popular brand was once an unaffiliated collection of 240 websites selling very different things. Professor Thales Teixeira discusses the rise of internet sales and search engine marketing, and delves into the minds of the company’s executives as they built an online furniture giant from scratch. Open for comment; 0 Comment(s) posted.
- 30 Nov 2016
The regulatory system overseeing the financial technology industry is a tangle of multiple agencies and inconsistent rules. Karen Mills and Brayden McCarthy propose a six-point plan to regulate online lending. Open for comment; Comment(s) posted.
- 02 Nov 2016
Cash flow is a major concern for small businesses, which, on average, hold only 27 days’ reserve. Karen Mills looks at how "fintech" and government policies can pull companies off the cash flow edge. Open for comment; Comment(s) posted.
- 19 Oct 2015
- Research & Ideas
Just as researchers in the life sciences often target their work to tackle the most dangerous diseases, business scholars are using their research to make a difference in government policy. Open for comment; 0 Comment(s) posted.
- 22 Sep 2014
In the final column on small business lending, Karen Mills is optimistic that the rise of alternative online banks can fund entrepreneurial business growth. Closed for comment; 1 Comment(s) posted.
- 28 Aug 2014
In part three of her series on the state of small-business lending, Karen Mills discusses how public-private partnerships and government guarantee programs have the potential to enhance economic growth. Closed for comment; 0 Comment(s) posted.
- 14 Aug 2014
- Working Paper Summaries
The State of Small Business Lending: Credit Access During the Recovery and How Technology May Change the Game
Small businesses are core to US economic competitiveness. Not only do they employ half of the nation's private sector workforce--about 120 million people--but also since 1995 they have created approximately two‐thirds of the net new jobs in the country. Yet in recent years, small businesses have been slow to recover from the recession and credit crisis that hit them especially hard. This lag has prompted the question, "Is there a credit gap in small business lending?" In this paper the authors compile and analyze the current state of access to bank capital for small business from the best available sources. The authors explore both the cyclical impact of the recession on small business and access to credit, and several structural issues that impede the full recovery of bank credit markets for smaller loans. They argue that the online banking market is likely to continue to grow, disrupting traditional ways of lending to small businesses. This will create both opportunities and risks for policymakers and regulators. Key concepts include: Small businesses create two out of every three net new jobs, but there remains a significant jobs gap. Structural issues make it more difficult for community banks to fill market gaps in small-business lending. New entrants are innovating and using technology in ways that improve access, time needed for delivery of capital, and the overall borrower experience. The policy challenge is to ensure that these new marketplaces have sufficient oversight to prevent abuse, but not too much oversight that the innovation is dampened or delayed. Closed for comment; 0 Comment(s) posted.
- 04 Aug 2014
Lending to small businesses has not returned to levels seen before the financial crisis. Karen Mills, former head of the US Small Business Administration, explains the reasons and why the situation is not likely to improve anytime soon. Open for comment; 6 Comment(s) posted.
- 21 Jul 2014
- Research & Ideas
Karen Mills, former head of the US Small Business Administration, analyzes the current state of availability of bank capital for small business. Open for comment; 8 Comment(s) posted.
- 09 Apr 2014
- Research & Ideas