P2P on Capitol Hill

In our June 2015 newsletter we discover a new hero: Zachary L. Green.


Three weeks ago I fell in love with Zachary L. Green.

Mr. Green is a former Marine, a former firefighter, and now he is a successful entrepreneur selling fire safety equipment. Now that’s an American hero! He is CEO of MN8 Foxfire and just three weeks ago, Mr. Green appeared before Congress to talk about his experience borrowing money using StreetShares, a p2p business lender. He testified before the House Committee on Small Business alongside three others, including my partner, Peter Renton of Lend Academy.

The Committee seemed to be probing two points: one, what’s going on here? and two, how can we ensure that it’s fair?

Everyone provided meaningful testimony, but for me Zachary Green stole the show when he described how he built MN8 FoxFire from the trunk of his car to become a company of real substance with hundreds of employees.

It was moving to hear him describe, in very real terms, how difficult – and rewarding – it was to build his business. For me, it was especially gratifying to see that p2p lending provided the capital he needed when traditional lenders would not.

It’s extraordinary to see our efforts, and stories like Mr. Green’s, reaching Capitol Hill.

I encourage you to watch the full testimony. To see highlights, check out our Learning Center. And stay tuned – we’ll be adding more informative videos this month.