Survey Finds Over Half of Small Businesses
Took Preemptive Action Ahead of Tariff Changes
CHICAGO, May 20, 2025
/PRNewswire/ -- Small businesses remain generally positive about
growth potential, though optimism has fallen slightly in the face
of economic uncertainty, according to the latest Small
Business Cash Flow Trend Report from OnDeck, the leading small
business lending company at Enova (NYSE: ENVA) and Ocrolus, the
document AI and cash flow analytics platform for lenders.
Key findings include:
- Growth expectations: 93% of small businesses anticipate
significant or moderate growth in 2025 (compared to 94% in Q4
2024).
- Tariff concerns: A majority of small businesses
(55%) reported taking action ahead of tariff implementation to
prepare their businesses for potential operational or financial
impacts.
- Rising AI use: More than half of small businesses
(69%) are using artificial intelligence tools often to assist
with marketing-related tasks.
- Businesses bypassing traditional banks: 76% of
small businesses report turning to non-bank lenders and bypassing
traditional banks, a survey all-time high.
"The small business community is resilient, and we see them
working hard to prepare themselves to weather certain environmental
factors such as tariffs. Whether it's additional capital needed for
front-loading inventory or help with general cashflow demands,
OnDeck is committed to supporting small businesses with accessible,
transparent and dependable financing," said Jim Granat, Co-President of Small Business at
Enova.
"With macroeconomic conditions evolving rapidly, small business
owners need capital solutions that are as agile as they are," said
David Snitkof, SVP of Growth at
Ocrolus. "AI-powered analytics infrastructure enables lenders to
evaluate real-time cash flow data to identify more qualified
businesses and expand access to the capital they need to navigate
uncertainty."
The report is based on responses from 437 small businesses with
working capital loans and over 2 million small business
applications for working capital financing during the past 15
months. The nationwide survey was completed between February 17-27, 2025. For more information and
complete survey results, please visit:
ondeck.com/small-business-trends.
About OnDeck®
OnDeck®, part of
Enova International, is the proven leader in transparent and
responsible online lending to small businesses. Founded in 2006,
the company pioneered the use of data analytics and digital
technology to make real-time lending decisions and deliver capital
rapidly to small businesses online. Today, OnDeck offers a wide
range of term loans and lines of credit customized for the needs of
small business owners. OnDeck has provided loans to customers in
900 different industries nationwide. For more information, visit
www.ondeck.com.
About Enova
Enova International (NYSE: ENVA) is a
leading online financial services company that serves small
businesses and consumers who are underserved by traditional banks.
Over its 20-year history, Enova has provided over $61 billion in loans and financing to more than
12 million customers by offering a suite of market-leading products
powered by the company's world-class analytics, machine learning
algorithms and proprietary technology. You can learn more about the
company and its portfolio of businesses at www.enova.com.
About Ocrolus
Ocrolus is a document AI platform that
enables faster and more accurate financial decision-making. The
company analyzes documents with over 99% accuracy, regardless of
format or quality, supporting over a thousand document types,
including bank statements, pay stubs, and tax forms. Ocrolus
provides a trusted solution to detect fraud, analyze
cash flows and income, and streamline decisions for 400+ clients
across a number of use cases. Customers such as Enova, PayPal,
Brex, CrossCountry Mortgage, Plaid, and SoFi leverage Ocrolus
automation to build delightful user experiences. To learn more,
visit Ocrolus.com.
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SOURCE Enova International, Inc.
