Online Lending

SourceFunding.org Highlighted for Economic Impact at White House

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.

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SourceFunding.org has 4 major metrics developed with Clinton Foundation as part of its $100 million Clinton Global Initiative sponsored initiative known as a "Commitment to Action:"

  1. Businesses Assisted
  2. Funding Facilitated
  3. Jobs Created
  4. Economic Impact

Businesses Assisted

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

Funding Facilitated:

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."

Economic Impact:

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.

Jobs Created:

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.

SourceFunding.org Recognized for "FinTech Innovation"

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NEW YORK CITY (August 1, 2016) - SourceFunding.org was featured for socially responsible "FinTech Innovation" in the August 2016 Business & Management Review. The paper, titled "Exploring Corporate Social Responsibility with the Global Community," was presented at the International Conference on Business & Economic Development in Paris.

Click here for a link to the Business & Management Review


Excerpt from the Business & Management Review:

"W. Michael Short, founder of Short Enterprises and the Global Social Enterprise Institute, spoke on the importance of building dynamic and cross-sector public-private-nonprofit-foundation partnerships in advancing economic development, inclusive entrepreneurship, and innovation. In order to demonstrate this, Mr. Short highlighted the national financial technology (FinTech) initiative that he is spearheading in collaboration with the Clinton Foundation, Ashoka U Commons Accelerator, the White House, various universities, a national network of small business technical assistance providers and financial institutions, among others. The initiative, a Clinton Global Initiative (CGI) sponsored “Commitment to Action” developed in the Ashoka U Commons, is focused on addressing a major barrier to growth cited by small and medium sized enterprises (SMEs): access to low-cost financing. This will be accomplished with the launch of the nation's first FinTech platform focused on community businesses, organizations, and entrepreneurs with a social-impact, mission-driven, or workforce development focus."

Commitment to Action: Financial Inclusion & Economic Empowerment