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Small and Medium-sized Businesses Shifting Allegiance Away from Traditional Lending Practices, New Swift Prepaid Study ShowsSmall and medium-sized businesses (SMBs) prioritize speed of payment and favorable interest rates when selecting a lender, according to a new study by Swift (News - Alert) Prepaid Solutions, a global leader in prepaid corporate disbursements and incentive payments. These findings show SMBs are moving away from traditional lending practices and placing a higher value on instantaneous access to funds. Swift Prepaid Solutions survey results show of the 38 percent who took out a loan in the last 18 months, 64 percent intend to apply for another loan in the next year and have the following traits:
"Small businesses often need immediate funding to support needs like equipment and inventory purchases, marketing and payroll," said Patrick Crosson, Swift's Vice President of Sales, Emerging Markets. "Prepaid payments provide lenders with immediate financial disbursement while also offering a branded experience unique to each user." Crosson will represent Swift at the LendIt Fintech conference in San Francisco, April 8-9. For more details, you can see the full study here. About Swift Prepaid Solutions Swift is leading the payments movement to greater value through high-impact brand connections at the intersection of the payment. Swift optimizes fast corporate-funded payments to businesses, their customers, employees, contractors, participants and channel partners through digital and physical card payments in 160+ countries, 17 languages and 10 currencies. www.swiftprepaid.com Swift is owned by Syncapay, a holding company "Investing In The New Frontier Of Payments." www.syncapay.com
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