Small Business, Big Ambitions: How Community Banks Can Embrace the Small Business Market
As office space renewals look to shrink in the next five years, community financial institutions are facing potentially strong headwinds with their CRE concentrations. Likewise, the current rate environment is pressuring mortgage refinancings and pushing banks to pursue a very competitive purchase mortgage market. For many of these institutions, alternative sources for lending involve the 32 million strong SMB marketplace–one in which digital-first neochallengers have already gained significant market share.
In our just-out research, conducted in partnership with Cornerstone Advisors, we break down the state of the SMB lending marketplace and what financial institutions need to do to survive, thrive and win back Main Street. Download this report to learn:
- Why loan portfolio diversification is critical
- How community FIs are meeting today’s marketplace challenges
- 4 keys to successful small business lending