Technically these groups are an association: "an organization of people with a common purpose and having a formal structure." In reality, and by their own admission, they are more an association of "lobbyists": "...trying to influence legislation on behalf of a special interest."
One thing they have in common is a very small number of members; anywhere from three to eight, although they are trying to attract new members.
Commercial Finance Coalition (CFC) CFC members include lenders, commercial finance brokers, payment processors, data providers, merchant cash advance companies and recovery agencies."
Financial Innovation Now was formed to "lobby for policies important to the growing electronic payments sector." In their mission, it includes "... expanding the market for online commerce and lending and improving access for underserved populations." Members are involved in loans and leases, including Amazon, Apple, Google, Intuit, and PayPal. The executive Director of the coalition, Brian Peters, is also a staffer at tech lobbying powerhouse the Franklin Square Group.
Founded by what their press release calls "The nation's three largest online small business lending platforms – OnDeck® (NYSE: ONDK), Kabbage, and CAN Capital."
The ILPA press release states, "Beginning in June 2016, the Innovative Lending Platform Association will commence a 90-day ‘"national engagement period’ in which it will seek feedback on the SMART Box initiative from interested lenders, trade associations, policymakers, and non-profit organizations. In September 2016, the Innovative Lending Platform Association will encourage those interested in promoting the responsible development of the small business lending industry to voluntarily adopt or support the model disclosure."
"The Innovative Lending Platform Association is focused on advancing small business online lending education, advocacy, and best practices."
The new association is aligned with the Association for Enterprise Opportunity (AEO), “For twenty-five years, AEO and its more than 450 member organizations have helped millions of entrepreneurs contribute to economic growth while supporting themselves, their families and their communities. AEO members and partners include a broad range of organizations that provide capital and services to assist underserved entrepreneurs in starting, stabilizing and expanding their businesses. Together, we are working to change the way that capital and services flow to underserved entrepreneurs so that they can create jobs and opportunities for all."