Commercial Lending Trends & Strategies – 2nd Quarter, 2018
2018 Small Business Survey Shows Digital Lenders Gaining Ground
(article from S&P Global Market Intelligence)
Small business borrowers are increasingly looking to digital lenders to meet their financing needs, according to results of an S&P Global Market Intelligence survey. The 2018 survey results suggest that small businesses’ increased use of digital channels to access financing benefited nontraditional lenders that lack a brick-and-mortar presence. The findings reinforce the idea that physical branches, which banks continue to close in droves, are declining in importance when borrowers choose their financial provider.