Where Small Businesses Like to Bank
Small Business Credit, Commercial Credit
71% of small businesses use one of the Top 6 banks as their primary financial institution, compared to just 39% of consumers. Raddon VP of Research Bill Handel lays out the two main reasons for the big banks' dominance in the small business lending space. Meanwhile, PayNet SVP & GM William Phelan provides insight into how this phenomenon represents an opportunity for community financial institutions.