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Saturday, October 7, 2017

Community FIs Big Opportunity with Digital Small Business Lending

Of the 30 million businesses, 25 million are home-based, and another 3 million have ten employees or less.   As a result, 28 million small businesses hold over $200 million in C&I and credit card loans under $100k, a larger market size than the segment of small business loans $100k to $1MM, according to the FDIC. Yet, community financial institutions, those with under $10B in assets, have over half of loans $100k to $1MM, but only 15% of the larger market of small business loans under $100k.



Why?  Because community financial institutions in the past could not profitably originate, underwriting and delivery loans under $100k to small businesses.  However, digital technology today allows community FIs to fully automate origination, underwriting and delivery in minutes on a smart device or computer.  Learn more at www.rcgiltner.com.




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