The financial impact on small businessess


of SMB only have enough cash on hand to last 2 months or less

1 in 10

SMBs report that the financial damage of the virus may be roughly $100-$250K


estimate the cost to be between $10-$50K

Simultaneously, the resulting impact of the COVID-19 pandemic represents a $370 billion opportunity for financial institutions to provide accounting and payments services to these same customers.

This infographic contains a compilation of data from a number of resources conveying the wide-spread impact of the pandemic on small businesses.

Small Business Banking INF page image

Throughout the pandemic, community banks have been a lifeline for small businesses

Community Bank Image

Providing nearly $330 billion in Paycheck Protection Program loans

Accounting for nearly 60% of the total loans

Saving an estimated 33.7 million jobs

Why small business banking matters?

>50% of small businesses go outside of their banking partner for a financial service, such as payments and receivables.

The opportunity for banking partners

35% - 40%

of small businesses serve on consumer or consumer-like banking platforms, not platforms designed for businesses


of community banks do not feel that their current business banking/cash management platform effectively meets banking needs for small businesses


of small businesses are likely or somewhat likely to replace their business banking/cash management solution over the next 2-3 years


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