1. Middle market comprises companies with revenue of $10 million to $1 billion. The lower middle market comprises  companies with revenue of $10 million to $100 million. ↩

2. U.S. Mastercard White Paper, Lower middle market businesses are a big opportunity, April 2024. ↩

3. In comparison, the S&P 500 saw a YoY growth of 0.2% in Q2 2024. ↩