Garrett Ransom Is Redefining Small Business Lending with Blockchain

At the Storj Institute, our mission is to empower equity in Web3 by spotlighting leaders building a more inclusive and accessible future. In our latest interview, Christine Lewis sits down with Garrett Ransom, CEO of Thermal Labs, to unpack how blockchain and AI can transform the lending landscape for small businesses.

A Mission Born from Experience

Garrett’s journey started in the aftermath of the 2008 recession, witnessing the economic toll on his own community. “I saw what foreclosure signs did to my neighborhood,” he shared. That firsthand exposure planted the seed for what would become a career dedicated to disrupting financial barriers.

Armed with real-world insight, Wall Street experience, and self-taught coding skills (thanks to 5 a.m. coding marathons), Garrett entered the blockchain space. His passion crystallized into Thermal Labs, a platform designed to democratize capital access using DAO-powered lending pools on Ethereum.

Innovating with Integrity

At its core, Thermal Labs empowers communities to take ownership of their financial future. By replacing traditional credit scores with alternative data and a community-driven DAO model, Garrett’s platform opens lending to entrepreneurs who are too often overlooked by banks.

“Great small businesses are out there. They just don’t always check the boxes banks look for,” Garrett explained.

He sees blockchain and AI not just as buzzwords, but as real tools to reduce lending costs, automate workflows, and improve underwriting models for small businesses globally.

A Global, Inclusive Vision

Garrett is passionate about more than tech—he’s building systems that scale equity, with a vision to reshape global economic inclusion. From automating technical assistance for entrepreneurs to leveraging AI agents for real-time cash flow alerts, his work is a beacon of what’s possible when innovation meets intention.

“Inclusion isn’t just a checkbox. It’s about diverse voices shaping better products,” Garrett emphasized.

Challenges, Learnings, and What’s Next

Despite the promise, adoption hasn’t come easy. Onboarding users new to crypto highlighted the UX gaps in blockchain tech. But Garrett turned those pain points into design inspiration—because mass adoption starts with meeting people where they are.

Today, he’s focused on compliance and infrastructure, laying the groundwork to scale lending while staying mission-aligned. His advice to up-and-coming entrepreneurs?

“Stay persistent. Be in the room. Share what you’re building. Show up—and people will support you.”

Looking Ahead

Garrett’s five-year vision? A full-stack solution that automates lending, connects to community partners, and revolutionizes small business finance. With blockchain, AI, and the power of community, he’s well on his way.

Watch the whole video here.