Key Insights from the Q3 Cash Flow Index Report from OnDeck and Ocrolus
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According to the newly released the Q3 Small Business Cash Flow Trend Report conducted by Enova’s OnDeck and Ocrolus, small businesses continue to prioritize non-bank lenders to access capital over traditional funding sources – 73% of small business owners reported bypassing bank loans in favor of alternative lenders. Family-owned businesses expressed a strong desire to maintain control and build generational wealth, with 58% intending to pass their business on to family.
The report is based on responses from 525 small businesses with working capital loans and over 2 million small business applications for working capital financing. The findings provide deeper insights into the health of small businesses and what it takes to thrive in today’s economy. Read more: https://www.ondeck.com/small-business-trends