American Banker reports on a recent study from the Federal Reserve that found small business owners are turning to online lenders much more frequently than they did even two years ago; traditional banks risk being left behind as small business owners cite the speed in loan approval as the top reason for their decision to choose an online lender; the survey was conducted in the third and fourth quarters of 2018 and included 6,614 responses from small business owners in all 50 states. Source.
