How Banks are Coming Back to SME Lending

Panelists include: Jed Simon, FastPay; Krista Morgan, P2Bi; George Shapiro, The Interface Financial Group; Eyal Lifshitz, BlueVine; Moderator: Neil Wolfson, SF Capital.

The invoice finance industry has begun to change in recent years as technology has helped make this market more efficient and diverse; banks never really left this space after the financial crisis and navigating the market with banks still in a prominent role has made receivables finance a bit more challenging than some other areas of online lending; being able to leverage data and deliver service in an efficient manner has helped lenders carve out a segment of the market; knowing who the banks are serving has also helped these lenders to better serve companies who were typically ignored by the banks as they were not big name firms; the slow pace of banks has been one of the main areas that online lenders have been able to exploit, getting capital to small businesses faster than banks has helped take market share; other topics discussed on the panel included different types of data to underwrite, the complexity of the market with the numerous parties involved and how invoice financings differs in other areas of the globe.