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Industry Landscape
The small business development and financial services industry is robust, particularly in Wisconsin, driven by non-profits and government agencies supporting entrepreneurs. It addresses funding gaps and skill development, serving a diverse client base from startups to established businesses, especially those underserved by traditional finance. Focus areas include accessible capital, training, and community support.
Total Assets Under Management (AUM)
Number of Small Businesses in United States
~33.3 million
(2.5% CAGR)
- Growth reflects new business formations.
- Post-pandemic recovery and entrepreneurial spirit.
- Supported by accessible funding and training programs.
Total Addressable Market
300 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Lending Platforms
Utilizing artificial intelligence and machine learning to analyze diverse data points for faster, more accurate credit assessments and personalized loan offerings, especially for underserved populations.
Blockchain for Transparent Microfinance
Employing blockchain technology to create secure, immutable, and transparent records of financial transactions and loan agreements, reducing fraud and increasing trust in microfinance.
Personalized Digital Financial Literacy Tools
Leveraging adaptive learning algorithms and gamification to deliver tailored financial education content and coaching to entrepreneurs based on their specific needs and learning styles.
Impactful Policy Frameworks
Community Reinvestment Act (CRA) Modernization (Ongoing, Latest Proposed Rule 2023)
The OCC, Federal Reserve, and FDIC are modernizing the CRA to update assessment areas, evaluate bank activities more broadly, and encourage investment in low- and moderate-income communities, including small business lending.
This policy could incentivize traditional banks to partner more frequently with organizations like WWBIC or increase their own small business lending, potentially introducing more competition or collaboration opportunities.
SBA Small Business Lending Company (SBLC) Program Expansion (Effective 2024)
The SBA has expanded the number of eligible lenders for its 7(a) loan program by allowing more non-bank lenders (SBLCs) to participate, aiming to increase access to capital for small businesses.
This policy expands the competitive landscape for small business lending by allowing more non-traditional lenders to offer SBA-backed loans, potentially diversifying funding options but also increasing competition for WWBIC.
Federal Data Privacy Regulations (Various State Laws, e.g., CCPA 2020, Virginia CDPA 2023)
While no single federal law currently governs all data privacy, an increasing number of state-level data privacy laws (like the California Consumer Privacy Act and Virginia Consumer Data Protection Act) regulate how businesses collect, use, and share personal data.
WWBIC must ensure robust data privacy practices for client information, potentially incurring compliance costs but also enhancing trust with their clientele regarding sensitive financial and personal data.
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