Predatory Lending

SourceFunding.org Founder Invited to UN for Global Summit Hosted by MIT

Pictured on the right:  SourceFunding.org  Chairman & CEO  W. Michael Short

Pictured on the right: SourceFunding.org Chairman & CEO W. Michael Short

NEW YORK CITY (March 7, 2017) - SourceFunding.org Founder W. Michael Short was invited to the United Nations to participate in a summit hosted by MIT's SOLVE Initiative. 

SourceFunding.org SOLVE  MIT.jpg

SOLVE was founded at MIT in 2015, a natural offshoot of MIT’s commitment to open technological innovation, and its long commitment to actionable thought leadership in the public sphere. The mission of SOLVE is two-fold: (1) Identifying the best solutions to specific, actionable challenges through open innovation, & (2) Building and convening a community of leaders and change-makers committed to partnering together to pilot and implement these solutions. To learn more about MIT's SOLVE initiative and their work, click here.

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.

SourceFunding.org White House Financial Inclusion Economic Impact.png

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.

Commitment to Action: Financial Inclusion & Economic Empowerment

Newhouse School & Alumnus Develop National Entrepreneurship Initiative

SourceFunding.org (W. Michael Short Founder) FinTech Small Business Lending

SYRACUSE, NEW YORK (October 24, 2014) - The S.I. Newhouse School of Public Communications at Syracuse University and Short Enterprises have partnered to establish the Startup Insider Initiative, a network supporting entrepreneurs throughout the United States. The Initiative's primary focus will be to design and launch SourceFunding.org, a new platform that will streamline access to business financing from trusted community lenders, providing the first alternative to the proliferation of predatory online lenders. The platform will be committed to financial inclusion, working with business owners in underserved communities who don't have access to low-cost financing.