Small Business Lending 101

Delve into the intricacies of small business financing and lending with Raj Tulshan of Loan Mantra and Drew Fischer of Funding Circle. During this roundtable, we explored the challenges entrepreneurs encounter, the various loan options, and the ever-evolving landscape of small business financing. This discussion provides valuable insights into the factors affecting lending, from macroeconomic influences to changes in the application process. 

Key Takeaways

• Small business financing is vital for growth and overcoming financial challenges.
• Various loan options cater to different business needs.
• Banks have tightened lending standards, making access to loans more challenging.
• Macroeconomic factors like inflation and labor shortages impact the lending landscape.
• A decline in small business loan applications may be due to alternative financing methods.
• Community bank relationships can benefit small businesses.
• Digital tools enhance security in the lending process.
• Women and minority-owned businesses face systemic loan access challenges.
• Active advocacy is essential to influence policy changes in small business financing.

Key Moments

• 4:50 – Small business loan process 
• 10:40 – Inflation & labor shortages impact on lending 
• 14:40 – Financing options
• 18:30 – Local vs National Banks
• 22:00 – Alternative Routes of Funding
• 24:30 – Fighting loan discrimination 
• 29:00 – Preventing Fraud
• 34:00 – Q&A
• 41:00 – Advice for entrepreneurs