Small Business Owners Continue to Turn to Online Lenders

American Banker reports on a recent study from the Federal Reserve that found small business owners are turning to online lenders much more frequently than they did even two years ago; traditional banks risk being left behind as small business owners cite the speed in loan approval as the top reason for their decision to choose an online lender; the survey was conducted in the third and fourth quarters of 2018 and included 6,614 responses from small business owners in all 50 states. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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