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Commercial Lending Market is Projected to Grow at a CAGR of 14.4% and Garner a Revenue of $27,406.6 Billion in the 2021-2028 Timeframe
Commercial Lending Market
As per analysis by Research Dive, the global commercial lending market is expected to register a revenue of $27,406.6 billion by 2028, growing from $9,712.8 billion in 2020, at a healthy CAGR of 14.4%.
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Commercial Lending Market Analysis
Small business owners frequently lack the financial means required to get loan or equity financing. As a result, startup costs and risks are significant. Commercial finance, on the other hand, allows you to cover all of your startup expenditures with a single loan. This also makes obtaining a huge sum of money much less scary for small business owners with limited resources. Small businesses can also benefit from commercial loans because it allows them to consolidate all their debt into one. As a result, it has a significant impact on the commercial loan sector. These are the main drivers of commercial lending market expansion. However, the rise in non-performing assets (NPA) has hampered the market's expansion, notably during the pandemic. Moreover, according to industry observers, technology in the commercial lending sector is fast advancing, and the online lending industry has grown at an incredible rate in recent years. Online lenders are employing artificial intelligence, blockchain, and machine learning to enhance the client experience and streamline the commercial loan application process. Thus, advancements in technology is expected to drive excellent opportunities for the commercial lending market during the forecast period.
Impact Analysis of COVID-19 on the Global Market
Due to the harsh epidemic's widespread devastation, the COVID-19 pandemic has had a significant impact on the commercial lending industry. Moreover, the involvement of small businesses in commercial lending has played a prominent part in this growing trend. Many banks reported being swamped by the surge in commercial loans that occurred during the pandemic, as businesses sought additional funding. Due to the closure of bank branches and extended waiting times for phone assistance during the outbreak, even previously fearful internet users sought commercial loans through these channels. As a result, commercial lending has risen exponentially during the global health crisis, becoming one of the industry's most important growth drivers.
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Segments of the Market
The report divides the global commercial lending market into type, organization size, providers, and region.
Based on type, the unsecured sub-segment is anticipated to grow at a fastest CAGR of 16.0% and dominate the market share during the projected time frame. The quick approvals and less stringent eligibility criteria are expected to boost the unsecured sub-segment market growth soon.
Based on organization size,the SMEs sub-segment is anticipated to grow at the highest CAGR of 16.9% during the forecast period and reach $13,148.4 billion by 2028. Key factors such as flexible repayment schedules and the multipurpose loans are expected to boost the sub-segment's growth.
Based on providers, the NBFC sub-segment is anticipated to be the fastest growing and reach $14,263.8 billion by 2028. This is majorly due to the minimal documentation required to avail loan.
Based on region,the Asia-Pacific commercial lending market accounted for $2,169.8 billion in 2020 and it is anticipated to generate a revenue of $7,081.9 billion by 2028. The growth is majorly due to the growing number of startups in this region.
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Major Market Players
The key players operating in the global commercial lending marketinclude Merchant Capital, American Express Company, Fundbox, Credit Suisse, Funding Circle, Goldman Sachs, Kabbage, Fundation Group LLC, LoanBuilder, and OnDeck. These players are developing different strategies like product development, mergers & acquisitions, partnerships and collaborations to gain a leading position in the market.
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Research Dive is a market research firm offering actionable insights and extensive analysis of various markets across different verticals. Maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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