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SMEs Severely Dissatisfied With eLending Experience – Fed

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The Federal Reserve published the findings of its research on small business lending habits in the U.S. But Federal Reserve Bank of Cleveland senior policy analyst Ann Marie Wiersch told Forbes in an interview that bank lending to small businesses is still struggling.

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Fed: Two-Thirds Of SMBs Say They Are Dissatisfied With Online Lenders

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In the wake of the Great Recession , small businesses found it difficult to secure loans via banks – and even when they were available, the common complaint was that the application process was slow, time-consuming, paper-intensive and ill-suited to the needs of small businesses. That, according to the Cleveland Fed, is the good news.

Online 132
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Why Two-Thirds Of SMBs Find Themselves Dissatisfied With Online Lenders

PYMNTS

In the wake of the Great Recession , small businesses found it difficult to secure loans via banks – and even when they were available, the common complaint was that the application process was slow, time-consuming, paper-intensive and ill-suited to the needs of small businesses. That, according to the Cleveland Fed, is the good news.

Online 131