08/07/2019
A 2019 Federal Reserve study of small business credit found that businesses deemed online lenders more transparent, quicker to apply for, and faster to reply than traditional bank loans.
When it comes to business loans, small businesses say online lenders are more transparent than big banks. Specifically, 15% of respondents to a Federal Reserve survey reported challenges with transparency experienced at big banks versus only 12% with online lenders. Small businesses also ranked big....