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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