Financial information firm Sageworks has announced its expansion into the world of SME lending. Reports said Monday that the company is entering the small business finance space with a new platform that adds to its existing consumer lending, credit risk and portfolio risk management offerings for financial institutions. Sageworks’ new SME lending platform offers an end-to-end experience, including loan application, data aggregation, stress testing and other features for institutions that want to begin lending to small businesses. According to the company, institutions are looking at small business lending as a way to grow, but they need to be wary of the fact that they are often less profitable than lending to larger corporations. Read more: pymnts.com
