Fintech SMB Lenders Reprice Risk as U.S. Tariffs Shift

Fintech lenders such as Wayflyer provide revenue-based and working-capital financing to smaller merchants that may struggle to secure bank credit. Tariffs matter because they raise import, inventory and port costs, weakening cash flow for cross-border e-commerce businesses and complicating underwriting. Sudden policy changes can also alter borrowers’ funding needs and repayment capacity, forcing lenders to reassess exposure, offer sizes and pricing.

The U.S. Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act in a 6-3 ruling on Feb. 20, 2026. The Trump administration quickly invoked Section 122 of the Trade Act for a new global levy and announced a 15% rate the following day. PitchBook data showed loan prices fell 19 basis points to their lowest since April 2025. Wayflyer’s originations declined amid uncertainty over port costs, while lenders including Kapitus said tighter underwriting could mean smaller offers and higher prices.