Boston, January 11, 2017 – Estimated by Aite Group to represent half a trillion dollars in commitments, the U.S. market for loans to small and midsize businesses is an attractive one. But the fielding of SMB loans requires a workforce of customer-facing business banking officers, underwriters, and credit approvers, and a bank’s SMB lending line of business can be difficult to scale profitably. Knowing why SMBs borrow, when they borrow, where they seek credit, and how they feel about credit providers’ processes could help lenders and vendors competing in the SMB space identify priorities.
Based on a Q3 2016 Aite Group examination of 501 credit-seeking SMBs, this research identifies the most important characteristics, channels, and capabilities banks and other lenders must have to attract and retain credit-seeking SMBs.
This 21-page Impact Note contains 10 figures and two tables. Clients of Aite Group’s Wholesale Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Baker Hill, CRIF, D+H, FIS, Fiserv, Genpact, Intellect Design Arena Ltd., Jack Henry, LexisNexis Risk Solutions, Linedata, Mirador, Moody’s, nCino, Nucleus Software, Provenir, Sageworks, Salesforce.com, SmartBiz, Wipro, and Wolters Kluwer.