SMB Lending After the Shakeout - by Funding Circle's Samir Desai

By Funding Circle's Samir Desai

Funding Circle has originated $3 billion to small businesses since 2010; they operate across the UK, US, Germany and the Netherlands and originated $1.4 billion last year; Desai speaks about the peaks and troughs that the industry has faced and believes we are on the way to recovery and sustainable growth; highlights what we've learned in the last 12 months including that controls and scrutiny on the industry are increasing, risk models take time to get right, and bank partnerships can be transformative; shares that SME lending has unique challenges including lack of standardized credit information, fragmented customer acquisition channels, confusing credit products, and a complex regulatory environment; also talks about the credit gap and opportunity for small business lending as well as Funding Circle's vision for the future.