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Published April 21, 2026
•7 minute read
Many firms seeking moderate-sized financing are profitable, yet still struggle to access affordable, right-sized capital. This report explains why the missing middle financing gap persists. Drawing on national survey data, we show that demand for growth-oriented and flexible credit is strong, but financing shortfalls remain common. We then identify four recurring constraints that prevent supply and demand from aligning at moderate deal sizes: documentation, collateral, timing, and market structure.
Our Mission
Entrepreneurial success is one of the greatest drivers of wealth creation and must be at the center of any national effort to expand economic opportunity. That’s why Third Way and the National Urban League have come together to create the Center for Entrepreneurial Opportunity. This one-of-a-kind effort develops and promotes federal policies that dramatically increase the opportunity for minority, female, and other disadvantaged entrepreneurs to starts and expand successful businesses.
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