Propelling Your Small Business Loan in the Digital Age
Banks remain the dominant source of credit for small businesses—but the days when banks were the only game in town are long gone. Dramatic strides in technology have made it possible for a range of providers to deliver capital to small businesses. In an era of smartphones and other mobile devices, digital technology is transforming the loan application, underwriting and fulfillment process. Armed with digital solutions, lenders are accelerating turnaround while offering credit at varying interest rates and terms. These changes add up to more choice for customers, but they are creating serious competitive pressures for banks.
What happens when businesses turn to alternative fuel sources for their funding?