The small business financing market opportunity available to non-bank lenders is large and has expanded as banks retreat. Non-bank commercial finance firms use various business models to originate transactions and manage risk. Newer entrants are deploying online platforms in an effort to rapidly gather assets and gain market share. Traditional firms rely on established origination channels and analytical tools but are generally augmenting their platforms with technology investments to speed response time and efficiency. Some firms are acting as intermediaries – originating and underwriting transactions for other lenders (usually banks) that lack the focus, expertise, or scale to build their own specialized origination engines. The small business financing market is fragmented, creating opportunities for new and existing players.