05 Sep Millennial Entrepreneurship and Business Lending
The entrepreneurial spirit of millennials continues to make headlines. From young CEOs forging new paths in innovative business sectors, to enterprising 20- and 30-something’s seeking startup capital to fund new ventures, millennial entrepreneurship is alive and well.
While the motivation for business ownership among millennials is high, so too are the barriers to pursuing entrepreneurship opportunities. Cash flow and access to capital in particular present significant challenges to millennial entrepreneurship. As a result, demand for financing has increased significantly among millennials – more than any other generational group.
But securing a small business loan through a traditional bank with conservative lending practices can present challenges for young millennial business owners. That’s why more and more millennial entrepreneurs are turning to alternative lenders who specialize in the unique needs of this growing segment.
Learn more about how millennial entrepreneurs seek funding by downloading our FREE white paper.
Take a look at our infographic below to see what’s motivating millennials into business ownership and some of the barriers they face. Plus, we explore small business loan approvals by generation to uncover who’s qualifying for funding.