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With a High Loan Approval Rate, Alternative Lenders Are Easing the Credit Burden on Small Businesses

Small/medium-scale enterprises (SMEs) are a vital cog for the economic growth of any country. In the US, SME lending has been growing strong over the years. US small-business lending is a 700-billion-dollar business, serving more than 29 million small businesses. In the past couple of years, a strong economic growth, rising interest rates, and a growing digitization in the lending space by the emergence of alternative lenders have been key drivers of growth in SME lending.

Banks have traditionally been a custo ...

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