Blue Hill in the News: Online Lenders Offer a Faster Lifeline for Small Businesses

New York Times LogoYaniv Liron has pulled cash and credit from every available source to keep his 11-year-old web design and development business, Lumina, running smoothly — a situation familiar to many small-business owners.

… Because these firms largely work outside the banking system, the new online marketplace currently “falls between the cracks” for federal regulators, Ms. Mills said. (She says that may eventually change if the market grows big enough to attract closer attention from lawmakers.) That means the companies can get away with sometimes charging rates far steeper than those of traditional lenders.

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Posted on April 9, 2015 by Scott Pezza