According to the research report titled ‘Global Small Business Loan Market Size study with, by Type (Short-term Loan, Medium term Loan, Long-term Loan), by Application (Large Enterprise, Medium-sized Enterprise, Small Companies) and Regional Forecasts 2020-2027’ available with Market Study Report, global small business loan market is anticipated to attain substantial expansion during 2020-2027.
 

Factors such as rising number of SMEs (small & middle enterprises), favorable government initiatives which promote the expansion of SMEs, and rapid development in emerging countries such as Japan, China, and India are bolstering the expansion of the market.
 

For the record, a small business loan is a financial support with minimal restrictive requirements, provided to SMEs at reasonable interest rates.
 

Furthermore, emergence of numerous start-ups, primarily in the financial technology (fintech) business sphere are stimulating the overall market outlook. Citing an instance, according to Statista, the fintech vertical accounted for 7.1% of the share of startups across the globe in the year 2019.
 

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On the contrary, rising concerns regarding the risks associated with the repayment of loans may hamper the growth of small business loan market over the forecast period.
 

Based on type, the market is segmented into long-term loan, medium term loan, and short-term loan. With regards to application, the market is bifurcated into small companies, medium-sized companies, and large enterprises.
 

From a regional frame of reference, North America presently dominates global small business loan market and is expected to showcase similar growth in the upcoming years. High concentration of developed countries along with risk bearing capabilities of companies are favoring the market outlook in North America.
 

Alternatively, Asia-Pacific small business loan market is projected to register the highest CAGR over 2020-2027. Booming SME sector of emerging countries such as China and India are emerging to be lucrative opportunities for the remuneration of the regional market.
 

The companies that hold a strong presence in worldwide small business loan market include Societe Generale SA, The Toronto-Dominion Bank (TD), The Hongkong and Shanghai Banking Corporation Limited (HSBC), Wells Fargo & Company, MUFG Bank, Ltd., Japan Post Bank Co. Ltd., Credit Agricole S.A., Industrial and Commercial Bank of China Limited, Banco Santander S.A., and Bank of America Corporation among others.