Last week’s State of Small Business Symposium hosted by the Federal Reserve Bank of Cleveland brought together lenders, fintech founders, CDFIs, policymakers and support organizations for a shared look at where small businesses stand today.

The clearest theme was that small business owners remain resilient: resourceful and adaptable, finding ways to make tighter margins, higher debt loads and shrinking cash reserves work in an increasingly complicated environment.

Unfortunately, resilient doesn’t necessarily mean thriving. The whole story is more nuanced than that. Nationally, small businesses’ share of GDP is declining. Growth projections are softening. About 38% of businesses carry more than $100,000 in debt, only 56% can comfortably cover operating expenses from cash flow and cash reserves have fallen to roughly 18 days on hand.

We see the impact of these challenges locally in Cleveland, too. Because many stretched-thin entrepreneurs focus heavily on revenue but have less visibility into profitability, cash flow and debt structure, their limited financial confidence can make it harder to evaluate financing choices or anticipate shortfalls.

That uncertainty compounds with the marketplace itself. Today’s owners have more financing products to choose from than ever, but not always more clarity about which one is right for them.

For example, in a major shift, fintech is no longer outside the traditional lending system. In many cases, it’s now part of the infrastructure. Very small businesses often need smaller-dollar, faster-turnaround products, and fintech companies have moved into gaps banks have struggled to serve by prioritizing speed, usability and simpler digital experiences.

That ease of access can become its own risk. When you’re already wearing many hats, there’s not much capacity left for a lengthy traditional lending process, so faster and simpler can look like the better choice, even though it could cost more in the long run. Certainly at JumpStart, we’ve seen more clients turn to merchant cash advances, which can cut into already thin margins and leave businesses worse off.

This is one place support organizations can play an important role. If you’re a business owner weighing financing options, this is exactly the kind of decision JumpStart can help with: understanding the true cost of capital, comparing options, preparing stronger financial documents and avoiding products that create short-term relief but long-term strain.

A promising technological development, however, is that CDFIs and community lenders are increasingly using their own data to better understand borrower needs, including AI-enabled underwriting models that combine quantitative information with lived-experience insight. Done responsibly, with the same care for borrowers that should guide any underwriting, that approach could help lenders recognize viable businesses that traditional models overlook.

The biggest takeaway from the symposium was not a new product or program — it was a mindset shift: owners have better odds of success when they’re not navigating alone. The day was a reminder that the work ahead is not only about loan products or even helping owners find capital. It’s about trust, timing, data and technical assistance, delivered at the right moment. For us, that’s about being clear about our own lane, sharing services where it makes sense and building stronger referral pathways to connect owners to the right help.

Small business owners shouldn’t have to find their way through a maze of individual providers, duplicative programs and unclear entry points. The capital, data and relationships small business owners need already exist. Our job is making sure they can actually reach them.