Small business owners turn to online lenders when banks bail

Aired: 6/22/2014 | 0:07:53 | Clip
Since the financial crisis, small business lending by banks has declined substantially according to federal data. The value of loans of less than $100 thousand dollars is down by more than 18% since 2008. But while banks have pulled back, new types of sparsely regulated nonbank lenders have stepped in as alternatives, hoping to disrupt traditional small business lending.