The backbone of the economy,
starved of capital.
The small and medium-sized business sector is a cornerstone of the U.S. economy — representing 99.9% of all U.S. firms and employing more than sixty-two million people.
Despite their importance, many of these businesses face significant obstacles in securing the financing they need to operate and grow.
Traditional banks often maintain strict lending criteria. The result: fewer than 35% of SMB loan applications are fully approved, and only 14.6% of SMB loans are approved by large banks.
Yet demand remains strong. In fiscal year 2025, the Small Business Administration supported $45 billion in financing to small businesses — a 19% increase over the prior year and an all-time record high. Even so, many businesses remain underserved: 44% do not apply for loans at all, deterred by the fear of denial.
Seneca addresses this funding shortfall by providing capital to fintech lenders that serve SMBs with strong operational performance but limited access to traditional credit.
By leveraging advanced data analytics and a deep understanding of diverse industries, these lenders identify opportunities designed to support attractive returns — while contributing to the growth and sustainability of the SMB sector itself.