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Fintech and Washington: Defining the Future of Small Business Lending
Karen Mills (MBA 1977), Senior Fellow, Harvard Business School
Small businesses have often faced gaps in access to credit. An explosion of new online lenders are providing small dollar loans to businesses within days, with easy online applications and innovative credit algorithms. Is this a good development for America's small businesses? Mills draws on her experience as former head of the US Small Business Administration and member of President Obama's Cabinet to discuss recent developments in this market. Participants will leave this session with a sense of both the underlying causes of the online lending boom and the open questions faced by regulators, borrowers, and traditional banks.