WASHINGTON, D.C. (November 30, 2016) - SourceFunding.org was highlighted for economic impact and small business development at the Obama White House. During 2016, the Obama White House Office of Social Innovation & Civic Participation advised on the platform's launch.
- Businesses Assisted
- Funding Facilitated
- Jobs Created
- Economic Impact
In 2017/2018, our team at SourceFunding.org is helping at least 1,000 small businesses access low-cost financing from transparent and responsible community lenders. In 2019, with the help of additional technologies and growing market awareness, SourceFunding.org will help 10,000 small businesses access low-cost financing
In 2017/2018, SourceFunding.org will facilitate access to low-cost financing with a collective origination value of over $100 million. In 2019, the platform will facilitate access to low-cost financing with a collective origination value of roughly a billion dollars. The "funding facilitated" metric is measured and reported in keeping with our 2016 Clinton Foundation sponsored initiative known as a "Commitment to Action."
Assuming an economic impact multiple of $3 of economic impact for every $1 in low-cost financing facilitated via the platform to underserved small businesses, SourceFunding.org will generate $300 million in economic impact nationally in 2018 and $3 billion in economic impact nationally in 2019. As the platform grows, so too will the platform's significant and compounding economic and community impact.
The number of jobs created by funding facilitated by our platform will grow from 540 jobs in 2017/2018 to 5,149 jobs in 2019. The job creation metric is based on US SBA data showing that, on average, 5.4 new jobs are created for every $1 million in financing received by a small business in the US.