Why Small Businesses Deserve Better Lending

If you’re a small business owner, you already know how tough it can be to get the financing you need to grow. You’re not alone. The demand for capital is high, especially with more than 5 million new small businesses formed in 2023 alone, but access? That’s a different story. In fact, 70% of small business owners who applied for a loan in the past year said it was too difficult to secure funding. And for entrepreneurs in underserved communities, barriers are even higher. At Grasshopper, we believe it’s time to change that. Equitable small business lending is more important than ever, and it starts with choosing the right banking partner. 

Traditional Banks Still Miss the Mark

Most banks still struggle to lend fairly and effectively to small businesses. Especially if you don’t fit into a neat little box. Why? Many institutions still rely on outdated systems, biased criteria, and a limited understanding of the diverse businesses they’re supposed to serve. Whether you run a dental clinic or an Etsy store, your financing needs matter. But too often banks only feel comfortable lending to industries they know. This leaves countless entrepreneurs without real options, or worse, turning to predatory lenders. We think small businesses deserve better.

A Smarter, More Equitable Approach 

At Grasshopper, we’re building a different kind of digital bank, one designed for modern small business owners. That means creating lending practices that are:

1. Accessible: As a digital bank, financial inclusion is at the core of what we do. We’re committed to breaking down traditional barriers by providing intuitive tools, educational resources, and expert guidance to help you better understand your financing options.
2. Efficient: By leveraging technology and real-time data, our digital-first experience streamlines the application process. Applicants can easily upload docs and receive personalized prequalification offers in minutes–not days–so you can focus on running your business, not chasing paperwork.
3. Equitable: We use real data, not outdated assumptions. Our technology helps remove human bias from the process so more small business owners, especially those in underserved communities, can get the funding they deserve.

Digitizing SBA Lending 

Securing an SBA loan doesn’t have to mean mountains of paperwork and weeks of waiting. At Grasshopper, we offer a fully digital SBA 7(a) loan application, designed to save you time and reduce friction, and we’re just getting started. We’re committed to further digitalizing the SBA lending process to help more small business owners access the capital they need, faster and more equitably.

Lending That Meets You Where You Are

Running a small business is hard enough. Getting a loan shouldn’t be. That’s why we’re focused on making lending simpler, faster, and more transparent. From easy online applications to human support when you need it, we’re here to make sure you feel confident, not confused, when it comes to financing. And because we’re 100% digital, you don’t need to drive to a branch to talk to someone who may or may not understand your business. You can connect with real experts who do, right from your laptop or phone.

The Bottom Line

You’re building something important, and you deserve a bank that gets it, one that’s committed to equitable small business lending and built to support your goals from day one. At Grasshopper, we believe that when small businesses thrive, communities do too. That’s why we’re using technology and data to make lending more inclusive, more efficient, and more aligned with your goals.

Ready to work with a bank that’s rethinking small business lending from the ground up? We’re ready when you are.