ETA Survey Finds Online Lending an Important Tool for Small Business Owners

WASHINGTON, April 25, 2016 /PRNewswire/ -- The Electronic Transactions Association (ETA), the global trade association representing the payments technology world, today released an infographic highlighting the key findings from a survey of almost 600 small business borrowers.  The landmark survey conducted last month by Edelman Intelligence reveals that online small business lending products add innovative new choices to available loan options.

Among the key findings:

• 96 Percent of respondents said the loan they secured enabled them to drive business growth.
• 91 percent of respondents were likely to take out another loan from an online lending company.
• 99 percent of respondents expressed overall satisfaction with their online lending experience.

The survey also indicated that the majority of small business organizations look to minimize total loan cost when facing a short-term Return on Investment Opportunity.  Fifty-seven percent of respondents chose a 6 month loan with a higher APR over a 9 month loan with a lower APR to minimize total interest and fees.

The Survey Criteria Data is based on 592 Small Business Organizations surveyed by Edelman Intelligence March 23 – 25.

For media inquiries, contact Meghan Cieslak at 202-677-7406 or [email protected].

About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $5 trillion in purchases in the U.S. and deploying payments innovations to merchants and consumers.

Contact:

Meghan Cieslak
202.677.7406
[email protected]

SOURCE ETA

Related Links

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