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Origins and Development of Credit-Based Crowdfunding

30 Pages Posted: 30 May 2014 Last revised: 30 Jun 2015

Craig R. Everett

Pepperdine University - Graziadio School of Business and Management

Date Written: May 28, 2014

Abstract

Although the term “crowdfunding” was only recently coined in 2006, the more specific category of crowdfunding known as debt crowdfunding (or credit-based crowdfunding) is built on a much older concept. It represents the latest incarnation of social lending, which has existed for centuries. This paper examines the origins and development of credit-based crowdfunding from the “friendly societies” of the 18th century to the crowdsourced peer-to-peer lending platforms of today. This paper provides chronology and details about more than one hundred early debt crowdfunding sites.

Keywords: Crowdfunding, Credit-Based Crowdfunding, Debt Crowdfunding, Crowdlending, Social Lending, Peer-to-Peer Lending, P2P Lending, Banking, Lending, Entrepreneurial Finance, Small Business Finance

JEL Classification: D71, E44, G21, G28, H63, M13, M14

Suggested Citation

Everett, Craig R., Origins and Development of Credit-Based Crowdfunding (May 28, 2014). Available at SSRN: https://ssrn.com/abstract=2442897 or http://dx.doi.org/10.2139/ssrn.2442897

Craig R. Everett (Contact Author)

Pepperdine University - Graziadio School of Business and Management ( email )

24255 Pacific Coast Hwy
Malibu, CA 90263
United States
(310) 506-8543 (Phone)

HOME PAGE: http://bschool.pepperdine.edu/faculty/default.php?faculty=craig_everett

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