Category: Digital Lending
July 29, 2021
Benefits of Digitizing your Small-Business Lending
Small businesses, worldwide, are struggling. An April 2021 update by the World Economic Forum (WEF)[1], stated that 34% of US SMEs haven’t re-opened since January 2020. A recent White House fact-sheet[2], categorizes the rest to be non-competitive. It observes that “Small & Independent businesses had[...]
June 24, 2021
How COVID 19 has Changed the Demand for SME Lending?
29% of small businesses fail because they do not have sufficient capital. Only 48% of small businesses have their funding needs met. 56% of SMEs apply for a loan to expand their business, acquire new assets, or pursue new business opportunities. 36% of SMEs were[...]
March 18, 2021
Digital Lending: How Technology Transforms Lending Market
The year 2020 brought along unthinkable challenges for mankind. The global pandemic crippled economies across countries. Individuals and small businesses were brought to their knees while the giants kept themselves from toppling over by conducting large scale downsizing. As per a survey by the Pew[...]
March 11, 2021
Best Alternatives To Merchant Cash Advances
Merchant cash advances are similar to paycheck advance in theory. The basic difference being that paycheck advance is meant for individuals while merchant cash advances are meant for businesses, mainly small businesses. Businesses such as retail stores, medical offices, eateries, restaurants, or any business with[...]
February 11, 2021
Why Should You Use A Cloud-Based Loan Origination and Loan Servicing Platform?
Automation and cloud computing have brought in a whirlwind of change globally and the financial services industry is no exception. As such, traditional banks and lenders all over the world are now looking to adopt and implement these disruptive technologies to boost their efficiency and[...]
July 9, 2020
What is Alternative Credit Scoring & Why is it So Popular?
In the finance and banking industry, lenders prefer thick credit files. The thicker the files, with more historical data about the applicants' borrowing history, better are their chances of getting their loan sanctioned, and if they have a good score, they even stand to get[...]