Easy Access To Credit

Access to capital is the lifeblood for new small business and the U.S. economy. We should pursue ways that to provide easy access to credit so that the entrepreneurs dream can be realized for more people.

Many businesses today have a difficult time getting small business loans. Right now, nine out of 10 business loan applications fail. We should use technology to enable easy access to credit – like an online platform that matches qualified business owners with the right lenders and loans. Entrepreneurs should be able to have access to unsecured lending programs, business cash advances and cash-flow-style bank loans.


The idea is to create a lending platform that can provide cash advances quickly and simply without regard to the business owner’s credit score. Even if a business has been turned down for a small business loan, it still may qualify for a business cash advance. Approvals should be made in 24 hours or less, and funding should happen as quickly as 7 business days. This lending platform should be able to fund businesses with credit scores below 650. The aim should be to offer loan matches to business owners with lower credit scores, or those that are simply in a rush to get financing for a particular product and don’t have time for traditional underwriting timelines.


3 votes
Idea No. 216