U.S. Department of the Treasury Releases Policy Brief on Small Business Financing

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) released a policy brief: Financing Small Business: Landscape and Recommendations. The brief builds on Treasury’s longstanding work to support small businesses and summarizes feedback gathered from the Office of Financial Institutions Policy’s September roundtable on small business finance and financial institutions, which focused on recent changes in the small business finance market due to emerging technology and artificial intelligence.The brief describes trends in small business capital access and the growth of non-bank financial technology providers in the small business market. The note also summarizes barriers facing small business owners seeking financing from capital providers, including banks, fintechs, and credit unions, and highlights particular issues faced by small business owners who have struggled to obtain financing.