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The math behind small business lending: Problems & possibilities for banks & credit unions

Abrigo

Takeaway 2 Several small business lending processes can tax both borrowers and staff. The Fed’s latest Small Business Credit Survey , conducted in 2023 and released in 2024, found that nearly 60% of employer firms had sought financing in the previous 12 months. At the same time, 59% pursued credit to meet operating expenses.

Lending 244
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The math behind small business lending: Problems & possibilities for banks & credit unions

Abrigo

Takeaway 2 Several small business lending processes can tax both borrowers and staff. The Fed’s latest Small Business Credit Survey , conducted in 2023 and released in 2024, found that nearly 60% of employer firms had sought financing in the previous 12 months. At the same time, 59% pursued credit to meet operating expenses.

Lending 195
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Formula for Business Lending Success: Minimize Delays

Abrigo

Abrigo's Business Lending Readiness Survey found many processes stymie those efforts. Abrigo’s 2020 Business Lending Readiness Survey found many bankers are dealing with processes that stymie those efforts. Survey: Repetitive data entry common. Another 9% of respondents said turnaround is 8 weeks or longer. learn more.

Lending 243
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Treasurers Remain Unfazed By Trade Tensions, Rate Hikes

PYMNTS

Corporate treasurers say they remain fairly unconcerned about global trade tensions and incoming interest rate hikes, and have not changed their payments practices as a result of these issues, according to a new survey from Dun & Bradstreet. D&B published its report on Tuesday (Nov.

Survey 115
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BitX Funding Strikes Equipment Finance Alliance

PYMNTS

Small business lending marketplace BitX Funding has struck an alliance with transportation equipment finance company Pelagic Capital, the companies said in a press release Tuesday (May 28). Pelagic operates as a direct lender as well as a collaborator with dealers to help small businesses obtain non-bank equipment financing.

Capital 128
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The Biggest Banking, Regulatory Challenges For Today’s Entrepreneur

PYMNTS

Fifty-two percent of SMBs predict business payments will be digital within the next five years , said Bank of America, while mobile phones are used by nearly all small business owners today – 89 percent say they use smartphones and other mobile devices to manage their business and operations like basic tasks, digital banking and digital payments.

Taxes 144
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How FinTech Helps SMBs Get A Grip On The Numbers

PYMNTS

Bookkeeping is at the core of many essential processes in the back office: tax filing, working capital management and access to financing, to name a few. In the case of accessing capital, the Federal Reserve ‘s latest analysis has suggested that small business demand for financing in the U.S. The firm secured $1.8

Fintech 154