Small business is big business in the US. There are nearly 30 million such companies employing close to 50 percent of the nation’s workforce, according to the US Small Business Administration. And, with banks stepping back from lending to smaller businesses in the wake of the global financial crisis, a gap opened up that has been at least partially filled by technology-enabled platform lenders, such as Kabbage and OnDeck.
Digital lenders find a home on Main Street
Online platforms have become part and parcel of the US small business lending space, offering capital within days, if not hours. We look at what’s next for these digitally enabled credit providers.
