In the U.S., banks are being offered more options to partner up with businesses interested in becoming involved with SME lending. It used to be just the government-run U.S. Small Business Administration that banks worked with to provide lending solutions, but increasingly, private enterprise is looking at small business lending as a way to grow.
The great thing is that partnering up with these companies helps streamline the process for banks, from application platforms to shouldering some of the risk. And of course, it means more small businesses can launch, which is a positive thing all round for the U.S. economy.
It also means that banks can be more flexible when it comes to their lending solutions. They can provide more assistance to their small business customers and strengthen their relationships.
The below article looks at how Sageworks has joined the ranks of SME lending and what they can offer to banks.
Read the full article at: www.pymnts.com