The largest online small business lender in the US is now PayPal having done $4 billion in loans in 2018; OnDeck, Kabbage, Square and Amazon round out the top five largest small businesses lenders with each company doing more than $1 billion in loans to small businesses in 2018 all originated online; bank and credit unions have lost an historic advantage in this space and if they want to reverse this trend they need to build more digital processes from the ground up. Partnering with these new digital lenders will be the best option for many of the traditional players. Source.
