February 7, 2013
by Bob Coleman, Editor
If Big Bank, Small Business Lending is up 50%, Why the Rise in Alternative Lending?
The disconnect is startling. Another big bank, this time Chase, announces dramatic increases in small business lending while Main Street still complains they can’t get credit.
There is a reason we see the increase in alternative lenders.
Here is another one, IOU Central. Check out their website. Main Street is turning more and more to these lenders and is willing to trade a higher interest rate for two to three day fundings.
These emerging e-competitors are becoming a direct threat to brick and mortar lenders.