Fintech Lending Throws Banks Another Curveball
0Source: Nasdaq
Fintech is throwing banks another curveball. Kabbage on Thursday outlined how it has handed over around a fifth of the $5 billion it has lent to small businesses since 2009 at night or over the weekend. It’s one more way technology is upending the industry.
It’s no surprise that small-business owners aren’t nine-to-fivers. Just ensuring the core work gets done typically demands long hours, which leaves them nights and weekends for sorting out the paperwork for finances and the like. That’s often the case for individuals applying for anything from car loans to mortgages, too.