Fintech, Small Business & the American Dream: How Technology Is Transforming Lending and Shaping a New Era of Small Business Opportunity - Hardcover

Karen G. Mills was a member of President Barack Obama’s Cabinet and served as the Administrator of the U.S. Small Business Administration from 2009 to 2013. She received the U.S. Department of the Navy’s Distinguished Public Service Award for her contribution to U.S. competitiveness, entrepreneurship, and innovation. She is the President of MMP Group and has a long history of building companies as a venture capital investor. 

Mills holds an AB in Economics from Harvard University and an MBA from Harvard Business School, where she currently serves as a Senior Fellow and part of the entrepreneurship faculty. She is a Member of the Harvard Corporation and a former Vice Chair of the Harvard Overseers. Mills lives in Boston and Harpswell, Maine with her husband Barry, former president of Bowdoin College. She has three sons, Will, Henry, and George.

“In this important book, Karen Mills shows how financial innovation can empower small businesses to fulfill their owners’ dreams and push the American economy forward. It will change how you think both about financial innovation and small business.” (Lawrence H. Summers, Former Secretary of the Treasury, Former Director of the National Economic Council, and Harvard President Emeritus, USA)

“For America to lead in this new technological era, we need to continue to nurture our entrepreneurial ecosystem. Mills illustrates how technology can get more access to capital flowing―increasing the chance for more small businesses to grow and prosper.” (Steve Case, Chairman and CEO of Revolution and Co-Founder of AOL, USA)

“Mills combines sharp analysis with her hands-on experience as a small business advocate to show the dynamic new opportunities that fintech presents. She lays out the promise of technology for small business lending, while providing valuable insights for today’s financial services providers.” (Kenneth I. Chenault, Chairman and Managing Director of General Catalyst, Former Chairman and CEO of American Express, USA)

“A must-read book for community bankers wondering how to best deliver small business financing in the future.” (Bob Rivers, Chairman and CEO of Eastern Bank, USA)

“At Square, we see technology empower main street businesses with incredible tools for growth every day. In this important book, Mills details the opportunities ahead for entrepreneurs as they gain new access to capital through technology. A must-read for those who believe in small businesses and all they do for our communities and our economy.” (Jaqueline Reses, Head of Square Capital and Member of the Federal Reserve Bank of San Francisco’s Economic Advisory Council, USA)

“Karen Mills recognizes that small businesses are vital to America’s development. For anyone interested in understanding the complexities of small business growth and the technologies, systems and companies vying to simplify and strengthen the financial lives of American small businesses, this book is essential.” (Kathryn Petralia, Co-Founder and President of Kabbage, USA) 

“The financial crisis destroyed the traditional small business lending system and left these companies with severely impaired abilities to raise capital and grow. In this book, Karen Mills brings her government and her private sector expertise to bear describing how technology may reinvent the ways small businesses operate and raise capital going forward. Economists, policymakers, and anyone interested in the future of small business will benefit from her insights on how the future of fintech and the small business economy will be inextricably linked.” (Austan D. Goolsbee, Professor of Economics at University of Chicago Booth School of Business and Former Chairman of the Council of Economic Advisers, USA) 

“Small businesses have been the path to economic independence for millions of Americans. Mills shows how fintech can extend that opportunity to even more.” (Deval Patrick, Managing Director, Bain Capital Double Impact and former Governor of Massachusetts, USA) 

“Few people have done more over the last decade to help small business owners than Karen Mills. Now, in Fintech, Small Business & the American Dream, Mills describes a brave new world for small businesses where technology has made capital more readily available and fintech firms use data to break down old barriers. She provides a refreshingly optimistic look at how innovation can bring about small business utopia where the entire financial life of a small business is transformed in a positive way by new technology. But this is not pie in the sky thinking, Mills lays out a detailed plan as to how we can reach this new promised land.” (Peter Renton, Founder of Lend Academy and Chairman of LendIt Fintech, UK) 

“As we have documented with data from over a million enterprises, small businesses have low cash buffers and bumpy cash flows. Mills’ outstanding book assesses the cost of these stresses to small businesses and creates a new vision for technology-driven solutions of the future.” (Diana Farrell, President and CEO of JPMorgan Chase Institute, USA) 

“Small businesses are often referred to as the ‘backbone of the economy’ and they need capital to grow and succeed. Mills understands small businesses through her work at the SBA and gives us real insights into how technology will affect, as well as benefit their future.” (Mike Cherry, National Chairman of the U.K. Federation of Small Businesses, UK)