Summary: The average small business loan through the SBA’s bank-funded 7(a) loan program is nearly $420,000, and the ROI of issuing smaller loans has yet to be proven to big banks. Thus, they do so in less frequency, which puts a roadblock in SMB access to financing and business growth. Darrell Esch, Vice President and General Manager of SMB Lending at PayPal discusses the state of SMB lending, the need for SMBs to have access to smaller loans, and how industry initiatives serve as a critical stimulus for business growth. Darrell Esch is PayPal’s VP, Commercial Officer, PayPal Credit. In his role, Darrell is responsible for PayPal’s global financing solutions teams and is a key driver for setting and executing PayPal’s SMB lending activities. He joined PayPal in August 2010 from Bank of America, previously serving as Senior Vice President of its payments department. Today's show is sponsored by Audible.com and RingBoost.com. Audible.com is a leading provider of spoken audio entertainment and information. Listen to audiobooks whenever and wherever you want. Get a free book when you sign up for a 30-day free trial at audibletrial.com/businessgrowth. Memorable phone numbers are a unique and affordable brand asset. Call 877-RINGBOOST or visit RingBoost.com to get yours today.
