The role that small businesses play in the United States economy, and that banks play in supporting sustainable growth of small businesses has been well-documented. What is perhaps less well understood are the challenges banks face in providing timely and cost-effective capital to banks in a profitable way. Earlier this year, Oliver Wyman, in conjunction with the Consumer Bankers Association (CBA) set out to better understand these challenges, help banks learn from each other, and ultimately improve the small business lending landscape in the United States. To do this, we worked with many of the leading banks in the nation – collecting detailed data and conducting management interviews to understand the state of their small business lending operations, and identify commonalities in the path forward.
Our hope is that this work, summarized in our report Partnering with Main Street – Opportunities for Growth in Small Business Lending, will serve as a catalyst in accelerating the good work underway at many banks and cause others to think more deeply about how they can better support their communities and their shareholders.
Kirk Saari, Partner in the Americas Retail & Business Banking Practice
Ben Hoffman, Partner in the Americas Retail & Business Banking Practice
Gregory Hamill, Senior Consultant in the Americas Financial Services Practice Group
Andrew Jakubowski, Consultant in the Core Consulting Group