North American Small Business Lending Decisioning Platforms Assessment

This document is an IDC MarketScape report assessing small business lending decisioning platforms in North America for 2023–2024. It outlines the significant changes in the small business lending landscape, particularly due to the rise of fintech and nonbank lenders, which have altered the competitive dynamics traditionally dominated by community banks and credit unions. The report details how these institutions are increasingly adopting technology to enhance their lending processes and improve customer experiences. It discusses various loan types that small businesses are seeking beyond traditional working capital loans, including supply chain financing and buy-now-pay-later options. Additionally, the report emphasizes the importance of technology investments in streamlining loan origination and credit decisioning processes. It also provides criteria for vendor inclusion in the assessment and offers guidance for technology buyers in selecting suitable lending platforms. The document includes profiles of key vendors and their strengths and challenges in the market.