Michael Berman
May 25, 2022

High on the list: A bank should only experiment with a fintech if it has a clear goal and purpose in mind.

Make no mistake: Competition for small businesses is heating up among big banks, credit unions, alternative lenders and every institution in between.

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The 29 million small businesses in the U.

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Small businesses have long mystified banks.

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Thousands of small businesses emerge nationwide every day.

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The banking industry is in the midst of another good run.

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A small business owner doesn’t want to wait weeks for a decision—and today, they know they don’t have to.

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Bank marketing is no longer just a matter of pushing credit via traditional advertising.

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It’s no secret that small business loans historically offer small profit; in fact, there is little economic difference in funding a $100,000 loan versus a $1 million loan.

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Although small businesses have generated two-thirds of the economic growth in the United States since 1995, few financial institutions offer products or services built specifically to meet the needs of this vast and potentially profitable segment.

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Over the past year, the alternative lending industry has taken several steps forward and, then, a big leap backward.

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Microbusinesses, defined as firms with annual revenues of less than $1 million, constitute 90% of all businesses and thus represent a significant opportunity for banks.

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“Why should we bother with small businesses? Your own numbers say most banks lose money from small business loans.

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In recent years, many banks have made significant investments in the commercial business to drive growth and to deepen customer relationships.

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Many banks are losing money with every small business loan they make.

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For years banks have recognized that the small business market represents significant opportunity to drive both balance sheet and earnings growth.

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One the most famous phrases in U.

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The small business lending market is one of the few bright spots in banking and can have a significant impact on a bank’s bottom line.

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Despite their number and economic impact, small businesses have historically found few bank products outside of loans that meet their unique needs, with consumer products often offering too little and commercial products offering too much.

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Baseball fans know who hit the most home runs in a single season.

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In this hyper-regulated and politically correct world, many banks will not admit that, at their core, they dislike banking small businesses.

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