Small Business Lending Innovators
Small Business Lending Innovators panel at LendIt USA 2015 with David Haber, of Bond Street; BJ Lackland, of Lighter Capital; Mark L. Rockefeller, of StreetShares; Jeffrey Rogers, of LiftForward; Denise Thomas, of ApplePie Capital; and moderator Peter Sterling, of Overland Advisors.
To begin, each of these companies acknowledged the importance of technology and data in this business. The reality is that two borrowers with the same credit score could have vastly different financial health.
Also, as the small business lending market is getting more competitive, niche lenders have begun to emerge, but these niche markets are still significant in size. StreetShares summarized the view of the panel well by estimating that there could be ten billion dollar companies in small business lending. The question is whether this market shakeout will come via consolidation or via acquisition by technology and financial giants.