Millennial- and Gen Z-run SMBs present both challenges and opportunities for lenders. These younger borrowers are more digitally engaged, valuing the internet and mobile access during the loan process, and are also more influenced by friends, family, and vendors when making credit decisions. Unlike older generations, they often delay seeking credit and place less emphasis on loan terms like interest rates and repayment periods. This procrastination may limit their negotiating power but reflects a focus on convenience and connectedness over traditional lending priorities, requiring lenders to adapt their outreach and digital strategies.

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