Small business owners turn to online lenders when banks bail
Clip: 6/22/2014 | 7m 53s
As banks have pulled back, new types of nonbank lenders have stepped in as alternatives.
Since the financial crisis, small business lending by banks has declined substantially according to federal data. The value of loans of less than $100 thousand dollars is down by more than 18% since 2008. But while banks have pulled back, new types of sparsely regulated nonbank lenders have stepped in as alternatives, hoping to disrupt traditional small business lending.
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...
Small business owners turn to online lenders when banks bail
Clip: 6/22/2014 | 7m 53s
Since the financial crisis, small business lending by banks has declined substantially according to federal data. The value of loans of less than $100 thousand dollars is down by more than 18% since 2008. But while banks have pulled back, new types of sparsely regulated nonbank lenders have stepped in as alternatives, hoping to disrupt traditional small business lending.
Problems playing video? | Closed Captioning Feedback
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...