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Co-Founder & CEO at Vaya | Empowering vSaaS companies to win their category and serve their SMB customers with Embedded Vertical Credit
🌟 New Blog Post: Is it Worth It? 🌟 The question that serves as the core barrier to financial inclusion. Growing up in Northern Michigan, I often wondered if the effort to dig out the family car for early basketball practice was worth it. 🏀❄️ This same question echoes in the decisions businesses make every day. In my latest blog post, I explore why profitability is the core barrier to financial inclusion. Despite the six commonly cited barriers like financial literacy and high bank fees, the underlying issue is simple: banks don’t find it profitable to solve these problems. 💡💸 Using small business lending as an example, I break down the costs and revenues for banks and why they prefer larger loans over smaller ones. Even if banks charge higher rates, it’s still not profitable enough to justify the effort for smaller loans. 📉🏦 This lack of incentive for banks to serve small businesses and low-income consumers leads to persistent financial exclusion. But understanding this barrier is the first step toward finding solutions. 🌍💪 👉 Read more in my full blog post: https://lnkd.in/gTT7sTbx (This is part of a series of posts about our mission to support financial inclusion for small businesses at Vaya in partnership with our vSaaS customers. You can find the series along with our other thoughts on embedded fintech at embedvaya.com/blog. If our work resonates with your or someone you know, please check out open roles at embedvaya.com/joinus.) #fintech #startups #vsaas #verticalcredit #smallbusiness #embeddedfintech Vaya Technologies
