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
The security guy in me wonders how you're going to make sure that people don't sign up for Stripe Capital and then move some/most/all of their payments to a different platform, effectively stretching their repayment period out to infinity.
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Happy to share more details! If the business doesn't generate the payment volume on Stripe to repay the loan, they have the option to repay us directly or it will be a claim on the business like any other commitment and repayment obligation will be dependent on the situation.
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