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New Report: Main Street Small Business Optimism Rises as They Successfully Navigate Macro Environment

CHICAGO, May 23, 2024 /PRNewswire/ -- Small businesses feel increasingly optimistic about future growth as expenses decrease, according to the latest Small Business Cash Flow Trend Report from OnDeck Capital, 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:

  • Optimism and Growth. A large majority of small businesses continue to feel optimistic about business growth opportunities over the next 12 months, with 93% expecting moderate or significant growth, a slight uptick (1%) from Q4 2023.
  • Financial Performance. Consistent with seasonal trends, revenue has decreased from its peak in Q4 2023, offset by decreasing expenses, resulting in a slightly higher revenue-to-expense ratio. Businesses continue to invest in employees, resulting in the payroll-to-revenue ratio increasing slightly to 19.5% in Q1 2024.
  • Cash Flow Management. Businesses are managing cash flows through a variety of approaches, most commonly using a business line of credit (56.2% of businesses), while many also report delaying payment to themselves and family members until other bills have been paid (43.1%).
  • Access to Credit. Banks appear to be limiting their lending, with nearly 40% of small businesses that have been in operation for over 20 years reporting they were denied a loan from a big bank. The percentage of transactions moving through payment apps instead of traditional payment methods continues to increase, with 26% of businesses reporting inflows from Venmo, Zelle or CashApp, which is an all-time high for this report.

"Small businesses continue to show resilience and believe in their potential, with their outlook remaining positive as they continue to successfully navigate challenges related to inflation and managing cash flow," said Cory Kampfer, Co-President of Small Business Lending at OnDeck. "Flexible financing options can make all the difference for small businesses, and help to manage today's business environment."

"The small business landscape is constantly evolving and requiring lenders to stay attuned to the needs of borrowers," said David Snitkof, SVP of Growth at Ocrolus. "Access to real-time cash flow data offers accurate insights into a business' financial wellbeing, empowers informed decision-making, and helps lenders identify opportunities for new solutions that bolster small businesses."

Key demographic findings include:

  • Nearly all (92%) of family-run businesses are first-generation business owners, and a majority (58%) plan to pass the business on to a family member in the future.
  • While nearly all surveyed small businesses have annual revenues under $10 million, veteran-owned small businesses had the highest percentage of self-reported annual revenues, ranging between $1M and $10M.

The Q1 2024 report is based on quarterly survey responses from 422 small businesses with working capital loans from OnDeck and cash flow data from over 1.9 million small business applications, and provides deeper insights into the health of small businesses across all regions.

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

About Enova
Enova International (NYSE: ENVA) is a leading financial services company with powerful online lending that serves small businesses and consumers who are underserved by traditional banks. Through its world-class analytics and machine learning algorithms, Enova has provided more than 10 million customers with over $55 billion in loans and financing. You can learn more about the company and its portfolio of businesses at

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

SOURCE Enova International, Inc.

For further information: OnDeck, Erin Yeager,; Ocrolus, Dan Horn,