NEW YORK CITY (November 14, 2016) - A new $100 million Clinton Foundation-sponsored platform bidding to take on predatory online lenders by offering America's underserved communities a low-cost alternative, is opening its doors for beta testing. Developed by the Global Social Enterprise Institute (GSEI), SourceFunding.org uses a proprietary common application and matchmaking software to help it connect individuals, businesses and other organizations with a national network of partner community banks, credit unions and economic development organizations.
SourceFunding.org Founder W. Michael Short, president of the Global Social Enterprise Institute (GSEI) who at the time was serving as Social Entrepreneur in Residence at Le Moyne College, was specifically focused during the Commons on student entrepreneurial pathways and inadequate access to small business funding throughout GSEI's global network of 250+ collaborating universities and institutions.
The Ashoka U Commons, described as a "virtual accelerator for changemaking education," is an online professional development program for universities engaged in social innovation education initiatives. Over the course of a semester, accelerator participants are grouped into university cohorts as they work to advance a core component of social innovation education such as creating a new course, curriculum, or mapping student pathways at their institution.
SYRACUSE, NY (November 11, 2015) - The Global Social Enterprise Institute (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 uses 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 complete national network of 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.
SYRACUSE, NY (April 23, 2015) - SourceFunding.org was developed through a rewarding partnership between entrepreneur W. Michael Short, the Martin J. Whitman School of Management at Syracuse University, & top MBA students collaborating to build the platform.
"This project provides unique opportunities to engage with budding entrepreneurs across the world," said second-year MBA student Aishik Barua at the time. "Mr. Short is a wonderful mentor who gives insightful feedback, generous encouragement and meaningful learning opportunities to help prepare students for future success."