Since 2008, loans made to small businesses have decreased in absolute terms by 41%. Banks have been pulling back from SMB lending.
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When businesses *can* get a bank loan, they spend an average of 25 hours on paperwork and wait weeks or months for approval.
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For internet businesses, capital is vital to growth: for marketing spend, inventory, engineering, and much else.
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Stripe users report access to capital as one of the top factors affecting their growth.
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We’re introducing Stripe Capital today: loans designed for internet businesses, underwritten by your payments on Stripe, no application necessary, paid back automatically.https://stripe.com/capital
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Replying to @collision
Exciting. I can't default bc you've secured it through my revenue stream. What happens when my business goes belly up? How are you securing capital other than the payments platform?
@stripe1 reply 0 retweets 1 like
As with any loan, there's some risk of repayments not happening. They can repay us directly if they aren't generating enough payment volume to repay the loan. If they shut down, the loan will be a claim on the business and repayment obligation will be dependent on the situation.
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