Celent analysis of the recently released 2023 Small Business Credit Survey (Employer Firms edition) by the Federal Reserve Banks reveals: part of the revenue pool is up for grabs, small loans continue to be in high demand, and banks still have an incumbent advantage.

Part of the revenue pool is up for grabs.
Demand-supply gap persists. Lenders that overcome the challenges of assessing and pricing small business credit risk can seize market share.

Small business dissatisfaction with the process remains (% respondents reporting a challenge). Lenders have an attractive opportunity to differentiate.