More Small Businesses Turning to Online Lenders for Financing
Small Business Labs
APRIL 23, 2019
Small businesses seeking financing were approved at higher rates by online lenders than traditional lenders. Finance Small Business EconomyThe Federal Reserve recently released its 2019 Small Business Credit Survey. A key finding is the use of online lending sources by small businesses is rapidly expanding. As the study chart below shows (click to enlarge), in 2018 32% of small businesses seeking credit applied to an online lender.