Small Business Credit: Models and Players Taking Flight

Celent will help qualify your requirements and introduce you to the vendor
Spotted a missing vendor? Use this form to alert a vendor to the Celent service
Create a vendor selection project & run comparison reports
Register to access this feature
Click to express your interest in this report
Indication of coverage against your requirements
Vendor requires PRO subscription to activate this feature
Requires research subscription, contact Celent for more info
3 October 2017
Alenka Grealish

Lessons learned from the exemplars

Small Business Credit: Models and Players Taking Flight

In reviewing the flock of small business credit players, we found that fourteen stand out as best practice in specific parts of the value chain or across the entire chain.

  • Incumbents and their tech providers: Wells Fargo, Numerated, and SmartBiz

  • Digital giants: Amazon, Paypal, and Square

  • Fintech lenders: FundBox, Kabbage, Novicap, OnDeck (and its partner JPMorgan Chase), and Taulia

  • Fintech marketplaces: Fundera, Lendio, and NAV

These exemplars provide key lessons learned for banks which aspire to take flight in small business credit:

  • Establish cross-functional teams

  • Develop regulatory compliance and protocol playbooks early

  • Ensure that the new product and/or process is complementary or better than what exists

  • Designate credible champions in key areas to galvanize support.

  • Educate and train all employees touched by change

  • Implement effective win-win sales incentives across channels

  • Roll-out in controlled but steady manner with clear 12 month goals

For a detailed discussion of the exemplars, see Small Business Credit: Exemplars of Innovation. In addition, a companion report, Small Business Credit Cycle: From Spring to Winter (September 2017), examines the spring and summer season and discusses how stakeholders can prepare for fall and eventual winter.

Insight details

Content Type
Innovation & Emerging Technology
North America