READOUT: U.S. Department of the Treasury Hosts Policy Roundtable on Financial Institutions and Small Businesses

WASHINGTON – Today, the U.S. Department of the Treasury hosted a roundtable with representatives from financial institutions, technology providers, financial technology firms, small business associations, consumer advocacy groups, government agencies, Federal Reserve banks, and other stakeholders to discuss how financial institutions, including depository and non-depository institutions, can better support the small business community.At the roundtable, participants discussed the current state of small business finance, obstacles faced by small businesses owned by women and people of color, challenges faced by financial institutions in serving small businesses, and potential solutions to bridge financing gaps.Treasury Department officials led discussions on how recent market developments – such as the growth of nonbanks, rising interest rates, and emerging technologies like artificial intelligence – affected small business financing.