Brokers helping SME clients a ‘win win’
The CEO of SME lender OnDeck has encouraged brokers to embrace fintechs and diversify into SME lending, as new research shows that nearly a third of SMEs believe bank finance has negatively impacted their business.
The global chief executive officer of OnDeck, Noah Breslow, made the comments after the SME revealed new data that showed that 23 per cent of SMEs have been knocked back by their bank (rising to 37 per cent if they have been in operation for less than five years) and have been turning to family members, friends, or relying on their credit cards to help support their businesses.
Read more at The Adviser.
