As we've seen with the surge of alternative lenders moving into the banking space, now is a pivotal time for lenders to move towards the next wave of innovation. Small business lending is the largest, fastest-growing and one of the most profitable sectors, with total revenues from nonemployers reaching $989.6 billion in 2011.
The main bottleneck for many lenders in reaching their goals for this market is the time it takes to gather and organize financial statements from small business owners. Investing in new business intelligence technology can alleviate this pain point. The infographic below displays how financial intelligence can increase the productivity and overall success of small business lenders.