By Kunal Bhasin, Founder & CEO of 1West
Small businesses have always been the backbone of the economy, driving innovation, creating jobs, and fueling local growth. But despite their importance, they’ve historically been last in line when it comes to access to capital. That’s changing, and fast.
Over the past decade, we’ve witnessed a seismic shift in the way small and medium-sized businesses (SMBs) think about, pursue, and secure funding. The era of walking into a bank branch, filling out stacks of paper, and waiting weeks for an answer is fading. So, what’s replacing it? A data-driven, tech-forward, transparent system that puts power back in the hands of the entrepreneur.
Why Traditional Lending No Longer Works for the Modern SMB
The reality is simple: the traditional lending model was never built for today’s agile business environment. In a landscape where markets shift daily and opportunities appear and vanish overnight, speed is non-negotiable. Yet most legacy institutions still operate on outdated processes that are slow, opaque, and often stacked against smaller players.
Big banks are increasingly focusing on larger, lower-risk borrowers. That leaves the majority of small businesses underserved, not because they’re unworthy, but because the old system isn’t flexible enough to meet them where they are. This has created a widening gap, and that gap is exactly where fintech thrives.
Fintech as the New Financial Infrastructure
The future of small business financing lies at the intersection of speed, transparency, and personalization. Advanced technologies now allow a single loan application to be syndicated across multiple trusted lenders, returning competitive offers in hours rather than weeks. But the mission isn’t just about fast funding. It’s about rebuilding trust.
Trust in financial services is earned when borrowers understand their options. When they see offers side-by-side, in plain language, with guidance along the way. That’s the difference between transactional lending and transformational financing.
The Next Frontier: Data-Driven Decisions and Human Insight
In the next chapter of SMB financing, data will continue to be a force multiplier, but it can’t operate in isolation. Algorithms can scan documents, assess risk, and streamline underwriting. But what data can’t replace is human judgment, empathy, and a nuanced understanding of what a business actually needs to grow.
We see this every day. An algorithm might flag a business as high risk, but a seasoned advisor will see a pattern of resilience, a unique market opportunity, or a loyal customer base. That’s why the best fintech solutions are not about automation alone, they’re about augmentation. Machines move fast. People move smart. The future demands both.
Regulation Will Shape the Future, And That’s a Good Thing
As fintech expands, regulation will follow, and it should. Thoughtful oversight protects entrepreneurs and ensures a level playing field. Operating with a "compliance-first" mentality turns clarity into a competitive advantage.
Smart regulation encourages innovation while ensuring responsible practices. The best fintech companies will be those that not only meet the rules, but help define them, advocating for systems that enable access while upholding integrity.
What SMBs Should Do Now to Prepare
If you’re a small business leader planning your next phase of growth, here’s what matters:
- Know your numbers. The more you understand your business health, from revenue cycles to cash flow trends, the better positioned you are to secure the right financing.
- Explore your options early. Don’t wait until capital is urgent. A proactive approach creates more leverage and better terms.
- Look beyond the brand name. The biggest institutions aren’t always the best fit. Seek out lenders and platforms that prioritize transparency, speed, and customer support.
- Partner with advisors who understand your industry. Financing isn’t one-size-fits-all. Choose partners who will take the time to understand your goals.
A More Equitable Future for Entrepreneurs
The future of financing should be built around the entrepreneur, not the institution. With the right tools, access, and education, every small business can take control of its financial future. The role of fintech is to empower, not replace, the human relationships that make business work.
At 1West, we’re not just building platforms, we're building a promise: fast capital, delivered with clarity and care. The old way was about gatekeeping. The new way is about unlocking potential.
And that future is already here.
About Kunal Bhasin
Kunal Bhasin serves as the Founder and CEO of 1West, a next-generation small business financing marketplace dedicated to making access to capital faster, more transparent, and more aligned with the real needs of Main Street entrepreneurs. Since founding 1West, Kunal has led the company to facilitate over $500 million in funding for more than 10,000 small businesses across the U.S. At the heart of 1West’s success is its proprietary Automated Business Lending Engine (ABLE), which streamlines a single loan application across a network of 50+ lenders. Recognized on the Inc. 5000 list of America’s fastest-growing companies, 1West operates with a customer-first ethos and boasts a TrustScore of 4.9 on Trustpilot. Kunal has built a company culture defined by transparency, hustle, and a deep commitment to helping small business owners thrive, especially when traditional financing falls short. With a wealth of industry experience, Kunal remains a trusted voice in alternative lending and fintech innovation, often offering insight into the rapidly evolving small business credit landscape.
