But just getting rid of regulation isn’t enough. A recently released Harvard Business School white paper documents the credit gap in small dollar loans and the entrance of new financial technology players ready to make these small business loans online, in days or even in hours. The majority of small businesses say they need small dollar loans, which are under $250,000, the most. But while the much needed increase in new sources of loans has been welcomed by small businesses, these innovative online lenders have sparked concerns around transparency and the high costs charged to borrowers.

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