“The SMB business is one that we think we can be incredibly competitive on, similar to personal loans and credit cards,” said Anthony Noto, CEO of SoFi during the Q&A session. We think we can operate meaningfully below that and take significant market share.” “SMB really was born out of the fact that a large percentage of our members actually are small business operators,” Noto said. “Back during COVID, when the government provided PPP loans, we got a significant amount of demand for applications on PPP loans, even though we were not in the SMB business. The SMB business is very much synergistic to the rest of our business.