According to PYMNTS.com, more than 80% of small to medium-sized businesses now expect to be approved for credit cards, reflecting strong optimism about their financial footing. i2c Global Head of Product Seth Perlman says approval is no longer the competitive battleground—the real fight is about whether cards deliver exactly what SMBs need. Joint research from i2c and PYMNTS found that 56% of SMBs are very or extremely interested in cards that let them choose rewards or lower APR on each statement. Royal Credit Union’s Jeni Brantner emphasizes that the true value comes from appropriately structuring credit offerings around each business’s cash flow cycles and risk tolerance. Renasant Bank’s Melissa Moss adds that businesses now demand automation, simple workflows, and tools that reduce fraud while analyzing monthly spend patterns to advise on appropriate credit limits.
The shift from approval to customization
Here’s the thing: we’ve reached a point where getting approved for business credit isn’t the hard part anymore. The real challenge for issuers is creating products that actually fit how businesses operate day-to-day. Think about it—when over 80% of businesses expect approval, you can’t compete on that alone. You have to compete on features that matter: adaptable limits, meaningful controls, and rewards that actually help rather than just look good on paper.
I think this shift speaks volumes about how sophisticated small business financial management has become. They’re not just looking for a safety net—they want a tool that integrates seamlessly into their operations. The fact that 56% want customizable rewards or APR options on each statement shows they’re thinking strategically about every dollar. Basically, they’re treating credit like the operational tool it should be, not just emergency funding.
The automation imperative
Now here’s where it gets really interesting. Small business owners are stretched thin—they’re handling everything from sales to payroll to customer service. The last thing they need is more administrative work. That’s why automation isn’t just a nice-to-have anymore; it’s becoming non-negotiable.
Preset controls, usage alerts, simple self-service capabilities—these aren’t luxury features anymore. They’re essential. And virtual cards? They’re turning into what Melissa Moss calls “digital defensive tools” that give businesses control down to the penny. The ability to spin up cards for new employees instantly or set departmental limits without calling customer service? That’s the kind of friction reduction businesses actually care about.
The partnership mindset
What struck me most from this analysis is how much the relationship has evolved. It’s not just about issuing credit anymore—it’s about becoming a financial partner. Royal Credit Union’s approach of reevaluating strategies when confidence dips, or Renasant’s proactive outreach when they notice declining card activity? That’s relationship management at its core.
But here’s my question: are most financial institutions really equipped for this level of partnership? It requires deep understanding of cash flow patterns, seasonal spikes, and growth trajectories. It means having advisers who can help businesses distinguish between planned expenditures and surprise costs. That’s a far cry from the traditional “here’s your credit limit, good luck” approach.
The future is flexible
Looking ahead, the panelists seem to agree that hybrid decisioning models from consumer credit will migrate to commercial programs. Dynamic limits that shift with growth, post-purchase installments, modifiable terms—these are becoming table stakes. Seth Perlman made the key point: “Small businesses are not in the business of managing a card program. They’re in the business of selling things.”
So where does this leave traditional issuers? Probably playing catch-up. The businesses that succeed in this space will be those building platforms that allow rapid innovation without code changes. They’ll be the ones offering the kind of flexibility that lets a business owner focus on what they do best—running their business—rather than micromanaging their credit program. And honestly, that’s how it should be.
