Comment Comment by jonknee Here's a twitter thread from John Collison detailing why they launched this. It sounds pretty innovative (not exactly a surprise considering it's Stripe!).https://twitter.com/collision/status/1169660488374001664> Since 2008, loans made to small businesses have decreased in absolute terms by 41%. Banks have been pulling back from SMB lending.> When businesses can get a bank loan, they spend an average of 25 hours on paperwork and wait weeks or months for approval.> For internet businesses, capital is vital to growth: for marketing spend, inventory, engineering, and much else.> Stripe users report access to capital as one of the top factors affecting their growth. parent jonknee 7 years ago
https://twitter.com/collision/status/1169660488374001664
> Since 2008, loans made to small businesses have decreased in absolute terms by 41%. Banks have been pulling back from SMB lending.
> When businesses can get a bank loan, they spend an average of 25 hours on paperwork and wait weeks or months for approval.
> For internet businesses, capital is vital to growth: for marketing spend, inventory, engineering, and much else.
> Stripe users report access to capital as one of the top factors affecting their growth.