Excerpt from Le Moyne College Press Release (Syracuse, NY // November 11, 2015)
GSEI, founded at the Madden School of Business by Le Moyne College's inaugural Social Entrepreneur in Residence W. Michael Short, will highlight at Wednesday’s ceremony the launch of SourceFunding.org - the nation's first socially responsible, transparent, and low-cost financing platform for businesses and community organizations.
The online financing platform will use advanced technologies to streamline the small business loan application process and match entrepreneurs of all backgrounds with the qualified community banks and loan programs that are most likely to provide financing. The platform will be working to empower veterans and other underserved entrepreneurs in particular.
What sets SourceFunding.org apart existing online financing platforms, viewed by many to be "predatory lenders," is that it utilizes an innovative process tapping into the national network of roughly 14,000+ community banks, CDFIs, & credit unions in the U.S., which typically offer lower and more competitive interest rates that save applicants money. Additional benefits include pursuing multiple financing opportunities simultaneously, saving considerable time, and also protecting the credit scores of entrepreneur applicants.