Small Business Lending: Banks And Credit Unions Are Getting Left Behind

It’s a fascinating time to be active in the small business lending market.  There is a tremendous amount of activity and innovation from new and existing small business lenders in the market.  Almost every week, I hear about how lenders are creatively figuring out new ways to offer more loans to small businesses.

Here are a few recent headlines from some of the small business lenders in the market:

1. Capital Access Network Launches ‘Mobile Funder’ Tool
2. Merchant Cash and Capital launches ASAP, an Automated Submission and Approval Platform for Small Business Financing
3. Swift Capital Announces New Business Loan Alternative with Instant Approval and 1 Hour Funding...

...Unfortunately, none of the creativity is from a bank or credit union (what I call ‘traditional’ lenders)...