Financial Services for Small Businesses in the U.S., 3rd Edition

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Published Feb 26, 2015 | 163 Pages | Pub ID: LA5236764

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Financial Services for Small Businesses in the U.S., 3rd Edition

After lagging behind their bigger counterparts, small businesses are seeing their fortunes revive in the aftermath of the great recession. And as small businesses recover, they are in the sights again of financial institutions large and small, which are expanding the array of products and services for the “mom and pop” entrepreneurs.

In its new report, Financial Services for Small Businesses in the U.S., 3rd Edition, Packaged Facts estimates the value of purchases made with small business credit cards alone at $505 billion, and we expect 11.5% growth in 2015. So far, small business loans have not caught up, leaving ample room for innovation. But it’s also about finding the right bank: our analysis reveals significant differences in large banks’ ratios of small business and microloans to loans outstanding. And it’s also about understanding small business owners and managers (including the self-employed), whose banking, securities, and business credit card usage lend insight into their bankability.

Financial Services for Small Businesses in the U.S., 3rd Edition assists in understanding these and other trends shaping the market for small business financial services. The report does the following:
  • Assesses the small business financial services strategies of American Express, Bank of America, Capital One, Citibank, JPMorgan Chase, MasterCard, U.S. Bank, Visa and Wells Fargo, with an emphasis on their respective small business card and small business lending programs and related initiatives. Analysis includes small business credit card purchase value estimates; and, for Visa and MasterCard, debit card purchase value estimates.
  • Assesses the small business financial services market, by identifying and trending small business participants (owners, self-employed, etc.); employment and firm size; business challenges; and use of credit (trade credit, loans, and credit cards).
  • Trends small business owner, small business management & self-employed worker demographics, with a focus on household income, securities and residential ownership trends.
  • Trends small business owner banking relationships and products used by institution, as well as investment trends and banking and credit card products used, through 2014.
  • Identifies the degree small business stakeholders are involved in purchasing decisions & the purchase decision process.
  • Provides small business expenditure market sizing estimates and a detailed market size and forecast for small business credit/charge and debit cards by card network.
  • Trends consumer and business credit card usage and behavior through 2014 among 1) all adults employed by small businesses, 2) small business owners and managers, and 3) self-employed individuals working for small businesses. Metrics include card usage and active usage, and we emphasize demographic analysis of respondent HH income, company size and securities owned.
  • Analyzes the small business cards programs of the top 100 U.S. financial institutions by assets.
  • Assesses the degree personal cardholders use business cards and vice versa, with an estimate for amount of personal card spend done on business cards.
  • Trends and ranks major banks by total amount of small business loans and microloans and share of total loans outstanding (including nonfarm non-residential loans and commercial and industrial loans) through 2014.
  • Trends and ranks the top SBA lenders by total loan volume and by share of total loans outstanding through 2014.
  • Trends small business loan demand and credit standards; and financing and funding choices through 2014.
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