The adoption of fintech is critical for small businesses, as it enables those denied credit access to affordable financial services and opportunities for growth.
A survey revealed that 53% of small business owners lack access to credit, especially those earning $150,000 or less annually, limiting their growth potential.
During the pandemic, fintech companies emerged as popular credit sources for small businesses, indicating a shift favoring digitally-oriented financial services.
Fintech banks are rapidly growing, proving to be an essential option for small business credit by offering flexible and accessible financial solutions.
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