The Federal Reserve System’s 2017 Small Business Credit Survey finds that this is one of the most appealing features of online lenders for small business borrowers.32 With regard to consumers, a 2014 report by the Bureau of Consumer Financial Protection found that 80 percent of payday loans are rolled over or followed by another loan within 14 days.33 The Bureau found that many loan sequences end quickly, but 15 percent of new loans are followed by others--and half of all loans were part of a sequence of at least 10 loans.
Full Stack Financial Inclusion for Financial Health A sustainable solution is likely to require a comprehensive understanding of the needs of financially underserved families and small businesses. Accordingly, policymakers and financial services providers are beginning to assess financial inclusion in more nuanced ways. And, in parallel, new technological building blocks increasingly can be used to build more full-stack approaches to financial inclusion.