Syracuse University

Prestigious Newhouse School instrumental in expansion of multibillion-dollar economic development initiative SourceFunding.org

syracuse university su newhouse sourcefunding fundingnavigator wmichael short alum famous fintech.jpg

SYRACUSE, NY (SEPTEMBER 21, 2018) - The #1 ranked S.I. Newhouse School of Public Communications highlighted SourceFunding.org in its latest feature, “Newhouse School instrumental in expansion of multibillion-dollar economic development initiative SourceFunding.org.” The feature celebrates the recent surge in growth for the platform as it surpassed its goals for 2018.

“Multibillion-dollar economic development initiatives originally launched in 2014 and 2015 with the assistance of the Newhouse School at Syracuse University are now helping over 50,000 startups, small businesses, nonprofits and community development organizations expand nationwide by speeding up the financing application process and matching them with the best community funding sources for their particular circumstances and stage of growth.”

Click to read the entire Newhouse article.

SourceFunding.org Builds on Collaboration with Prestigious Maxwell School of Citizenship & Public Affairs, Syracuse University

Photo Credit: Syracuse University

Photo Credit: Syracuse University

SYRACUSE, NEW YORK (March 6, 2018) - Building on long-standing collaborative efforts and initiatives with Syracuse University, providing over 150 graduate & undergraduate students to date with engaged and experiential scholarship opportunities, SourceFunding.org continues to develop its social enterprise business model with the assistance of the Community Benchmarks Program at SU’s prestigious Maxwell School of Citizenship & Public Affairs.

W. Michael Short ,  SourceFunding.org Founder , and Director of the International Innovators Initiative ( IN2NYC ) at Medgar Evers College School of Business, City University of New York ( VIDEO LINK ).

W. Michael Short, SourceFunding.org Founder, and Director of the International Innovators Initiative (IN2NYC) at Medgar Evers College School of Business, City University of New York (VIDEO LINK).

Highlighted in Forbes, at the New York Stock Exchange, at the White House for economic impact, and in the Business & Management Review for socially responsible innovation in financial technologySourceFunding.org is at the forefront of a new era of hybrid social enterprises: organizations that pursue social missions that are fueled by market-based business models, integrating social and economic objectives.

"The development strategies and plans evolving from our previous work with the Community Benchmark Program in 2015 helped build a strong foundation for the successful national expansion of our hybrid social enterprise business model," said SourceFunding.org CEO W. Michael Short (SU '10 & SU Engagement Scholar '11). "We're grateful for the opportunity to build on that successful collaboration."

As noted by Huffington Post, in an article highlighting the involvement of SU in the early development of SourceFunding.org with social entrepreneur W. Michael Short, the number of social enterprises in the U.S. has more than doubled since 2006.

“The social innovators leading the hybrid movement have advanced efforts to increase accountability of both for-profit and nonprofit social enterprises by combining the best attributes of each,” writes Chris Miller, CEO of the Mission Center L3C Incubator, in the Stanford Social Innovation Review. “It seems safe to assume that the vanguards of the millennial generation and hybrid movement, respectively, will continue to seek more authentic, transparent, and accountable mechanisms for changing the world.”

Specifically, university, foundation, and investor-backed SourceFunding.org expanded nationally in the U.S. to provide a trusted, transparent, & low-cost alternative to the growing number of predatory online small business lenders that are increasingly using deceptive tactics, misleading fees, and hidden costs to take advantage of entrepreneurs nationwide. 

As noted by the U.S. Treasury Department, big banks cut down on their small business lending following the 2008 financial crisis & online FinTech firms stepped in to fill the unmet demand for credit. As a result, the industry boomed and is on track to lend $90 billion a year by 2020. However, according to Opportunity Fund, FinTech loans come at a substantial price with annual percentage interest rates (APRs) reaching from 94% to as high as 358%.

Karen Mills  is a Fellow at the Harvard and a leading authority on entrepreneurship & online lending. She was a member of President Obama’s Cabinet, serving as the Administrator of the U.S. SBA from 2009 to 2013 (Photo: U.S. SBA).

Karen Mills is a Fellow at the Harvard and a leading authority on entrepreneurship & online lending. She was a member of President Obama’s Cabinet, serving as the Administrator of the U.S. SBA from 2009 to 2013 (Photo: U.S. SBA).

Research published by Karen Mills, distinguished senior fellow at Harvard University who lead the U.S. SBA during the Obama Administration, points to a disconnect between traditional banks, that cite a lack of demand from qualified borrowers, and creditworthy business owners, who describe going from bank to bank unable to get a business loan. As a result, businesses are turning to predatory online lending platforms in record numbers.

SourceFunding.org provides the first & only universal small business loan application system accessing every community bank, credit union, non-profit lender, & community development financial institution (CDFI) in the U.S. with the platform's national Responsible Finance Network™ incorporating a network of over 14,000 of the nation's most trusted, transparent, & low-cost lenders.

SourceFunding.org simplifies the capital search process, streamlines the business financing application process, and eliminates over 100 hours of paperwork for entrepreneurs. Using technology to assess the particular circumstances of each entrepreneur, business venture, or organization, along with advanced matchmaking algorithms, SourceFunding.org identifies the small business lending programs that are a good fit out of all the opportunities available.

The platform’s national financial inclusion campaign and social enterprise business model includes multiple independently operated organizations operating toward a shared mission of leveling the playing field for all entrepreneurs in the U.S. in order to stimulate economic impact, community development, and job creation.

SourceFunding.org Featured at #1 Ranked Maxwell School of Citizenship

Photo Credit: Syracuse University

Photo Credit: Syracuse University

SYRACUSE, NEW YORK (October 13, 2016) - SourceFunding.org Founder W. Michael Short was invited to speak at a Public Diplomacy Symposium hosted by Syracuse University's #1 ranked S.I. Newhouse School of Public Communications and #1 ranked Maxwell School of Citizenship & Public Affairs. Short spoke about the public diplomacy related considerations, challenges, and lessons learned relating to the launch of SourceFunding.org.

Joining Short on the "New Public Diplomacy" panel was Corri Zolli, director of research at the Institute for National Security & Counter Terrorism.

"The prestigious Public Diplomacy Program at Syracuse University is so incredibly impressive and the students and faculty are world class," said Short. "We've had over 250 SU students engaged in our efforts to date and we look forward to building on this strong partnership."


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Excerpt from the SU Daily Orange (click here for link to article):

The “New Public Diplomacy” panel features Michael Short, founder of Short Enterprises. The company focuses on utilizing “market based solutions” to solve problems related to a wide range of topics, from green infrastructure to urban revitalization and STEM education, Short said in an email.

Short said each of these initiatives involves creating and sustaining “public-private-nonprofit-foundation partnerships, which are a key aspect of public diplomacy.”

The symposium is being held in both Newhouse and Maxwell over the course of two days. The two schools offer a joint public diplomacy program, in which Short is an alumnus.

Short said he was specifically invited to discuss the public diplomacy related aspects associated with launching their financial technology platform, called SourceFunding.org. The platform works to connect small businesses with $100 million in funding by the end of 2018, according to its website.

“I credit my education at Newhouse and Maxwell with providing me with the skills and experiences necessary to launch and grow my firm and our initiatives,” Short said.

Pilot of World's First Socially Responsible Financing Platform Announced with Partners at #1 Ranked Newhouse School

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SYRACUSE, NY (Nov. 5, 2015) - The Global Social Enterprise Institute, an Initiative of international consultancy Short Enterprises with offices at Le Moyne College's Madden School of Business, announced on Tuesday the launch of the world's first socially responsible financing platform at Syracuse University's #1-ranked S.I. Newhouse School of Public Communications. The platform, SourceFunding.org, will 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 low-cost financing.

Undergraduate students at Syracuse University's #1-ranked S.I. Newhouse School of Public Communications collaborating with  Newhouse alumnus  and Global Social Enterprise Institute President W. Michael Short on the launch of Source Funding™ (Photo Credit: Chloe Buccina)

Undergraduate students at Syracuse University's #1-ranked S.I. Newhouse School of Public Communications collaborating with Newhouse alumnus and Global Social Enterprise Institute President W. Michael Short on the launch of Source Funding™ (Photo Credit: Chloe Buccina)

"After 2 years of planning, development, and putting partnerships in place,  we're excited to extend our regional pilot for SourceFunding.org," said Institute President and SourceFunding.org Founder W. Michael Short. "This represents an important milestone in scaling SourceFunding.org into a national and then international platform that will empower entrepreneurs and also the responsible low-cost community banks that support them."

 

#1 Ranked Newhouse Assisting with Launch of SourceFunding.org

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SYRACUSE, NEW YORK (April 29, 2015) - SourceFunding.org is thrilled to announce that the S.I. Newhouse School of Public Communications at Syracuse University is collaborating to develop campaign and engagement strategies for the platform's launch. Established by the Global Social Enterprise Institute, SourceFunding.org is the first socially responsible business financing platform for business owners throughout the United States. 

SourceFunding.org Newhouse Syrause W. Michael Short FinTech Entrepreneur

“It’s a pleasure to be involved in these exciting endeavors spearheaded by Newhouse alumnus W. Michael Short that are now gaining traction around the world with the help of our students,” says Newhouse Professor Robert Kucharavy. “It’s also inspiring to see the high degree of collaboration that this initiative is inspiring globally, as well as locally, between Syracuse University and Le Moyne College.”

SourceFunding.org Partners with Syracuse University's Whitman School of Management

SourceFunding.org FinTech Small Business Loans Whitman School Syracuse University

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."

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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.