Not relevant to our industry.

1.) SME's or what they refer to as 'small businesses' are not on the same order of magnitude as the merchants that we deal with in this business. Think small corporations, like MCA Funding companies, and lending 10's of million per loan. Not restaurants and auto repair, ect.
2.) They are talking exclusively about secured lending. Nothing is secured in this space.

Apples and oranges, not even close. Unless you're talking about the availability of hedge fund money to MCA funders...of course that's been around forever.