What’s ahead for small business lending in 2022?

With 2022 just around the corner and the pandemic slowing significantly, it’s time for financial institutions (FIs) to take a forward look at their small business lending strategy. FIs, without a doubt, have made and will continue to make a difference in the small business rebound.

Clearly, opportunities for expanded relationships exist. Of small businesses that applied to the U.S. SBA’s Payroll Protection Program (PPP) through a financial institution, 83% of small bank applicants had an existing relationship.¹ Also, FIs now firmly understand that the pandemic produced a permanent shift from in-person lending to digital.