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BOCA RATON Fla., March 11, 2021 (GLOBE NEWSWIRE) Online marketplace loans are leading to a sharp rise in new businesses, evidence that the lending platforms are helping to redefine the U.S. banking industry, according to a research team that includes professors at Florida Atlantic University.
The financial technology (FinTech) study, published in the
Journal of Financial and Quantitative Analysis, estimated that a 10 percent increase in marketplace lending caused a .44 percent jump in businesses established per capita.
The impact is even greater for less-experienced entrepreneurs and small and less-profitable firms and in low-income areas, noted Douglas Cumming, Ph.D., and Sofia Johan, Ph.D., both of FAU s College of Business. Their research team included Hisham Farag, Ph.D., and Danny McGowan, Ph.D., both of the University of Birmingham in the United Kingdom.