Press release
Florida Digital Lending Market to Reach $13.89 Billion by 2027
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Increase in need & adoption of digital lending solutions in the state and considerable shift from traditional lending to digital lending drive the growth of the Florida digital lending market. However, high interest on small amounts & shorter repayment time provided by lenders hinders the market growth. On the other hand, adoption of advanced technologies in lending services creates new opportunities in the coming years.
Based on loan type, the personal loans segment contributed to the highest market share in 2019, accounting for nearly half of the total market share, and is projected to maintain its lead position during the forecast period. However, the SME-focused loans segment is expected to grow at the highest CAGR of 22.5% from 2020 to 2027.
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Key Benefits For Stakeholders
The study provides in-depth analysis of the Florida digital lending market share along with current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size are provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the Florida digital lending industry.
An extensive analysis of the key segments of the industry helps to understand the Florida digital lending market trends.
The quantitative analysis of the Florida digital lending market forecast from 2020 to 2027 is provided to determine the market potential.
Key Market Segments
By Loan Type
Payday Loans
Personal Loans
SME-focused Loans
By Provider Type
Banks
Credit Unions
FinTech Institutions
Others
By Loan Amount
Less than USD 500
USD 500-USD4,999
USD 5000-USD10,000
More than 10,000
By End User
Individuals
Entrepreneurs
SMEs
Key Market Players
Ally Financial Inc.
Credible
Florida Credit Union
LendingPoint LLC
Navy Federal Credit Union
Social Finance, Inc.
Suncoast Credit Union
TD Bank, N.A.
VyStar Credit Union
WELLS FARGO
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