<ul data-eligibleForWebStory="false"><li>Banks are facing challenges in lending to small businesses due to a lack of reliable data, highlighted in a recent PYMNTS Intelligence report.</li><li>Nearly 3 in 10 micro-business loan applications are rejected because of data verification issues, impacting credit access for small firms.</li><li>Financial institutions face obstacles in accurately assessing the risk of micro-sized firms, leading to either higher risk pricing or outright rejections.</li><li>Improving data quality, prioritizing real-time data access, and linking profitability to credit assessment quality are key factors for banks in effectively serving and profiting from the small business lending segment.</li></ul>

Why Banks Say ‘No’ to Nearly 3 in 10 Micro-Businesses

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