Government Shutdown Hurts SBA Lending at Banks in December, According to Biz2Credit Small Business Lending IndexsuperscriptstartTMsuperscruptend
Business loan approval percentages continue to rise at big banks and institutional lenders, while alternative lenders and credit unions again dip slightly
With the U.S. Small Business Administration (SBA) closed for the past two weeks because of the partial government shutdown, SBA loan approvals dropped in December 2018 at banks and other institutions. Despite this setback, overall ahrefstartsmall business loan approvalahrefend rates for big banks reached another record high (27%) in December 2018, according to the Biz2Credit Small Business Lending IndexsuperscriptstartTMsuperscruptend released today.
Big Banks
The December approval percentage for big banks (assets of $10 billion+) rose one-tenth of a percent from October's figure of 26.9% to 27%, according to Biz2Credit's monthly report, which examines more than 1,000 small business credit applications made via its online lending platform.
Monthly Comparison
Yearly Comparison
Eyes are also on Washington because Federal Reserve chairman Jerome Powell hinted that the central bank may reconsider the Fed's recent policy of raising interest rates if economic growth slows down. However, the recent holiday shopping season is considered one of the strongest in six years, and the Department of Labor reported that the economy added 312,000 jobs in December, a number far above consensus expectations. The Fed signaled in December that two more rate hikes could come in 2019, on top of five consecutive quarters with interest rate increases.
Rohit Arora, Biz2Credit CEO
"Things were moving quite well before the shutdown, and still are for big banks".
"With the SBA closed, there is now a backlog of companies awaiting funding primarily from small banks. At this point, it will take months for regional banks to recover from this jam and restore the flow capital to small businesses."
Rohit Arora, Biz2Credit CEO
Small Banks
Business loan approval rates dropped three-tenths of a percent at regional and community banks in December 2018. Small bank approvals slipped below the half-way mark to 49.9% following the month of November when 50.2% were approved.
Monthly Comparison
Yearly Comparison
Rohit Arora, Biz2Credit CEO
Institutional lenders
Institutional lenders inched slightly up to 64.8% in December, up one-tenth of a percent from 64.7% in November, a good sign for small business borrowers.
Monthly Comparison
Yearly Comparison
Rohit Arora, Biz2Credit CEO
Alternative lenders
Loan approval rates among alternative lenders dropped from 56.7% in November to 56.6% in December. While some of these lenders were affected by the SBA shutdown, experts advise that the trend could reverse itself if the shutdown continues.
Monthly Comparison
Yearly Comparison
"If SBA lending continues to stall, alternative lenders could rebound. They will offer money when other lenders do not, but the funding comes at higher rates and shorter terms," Arora explained. "These lenders have carved out a niche by funding companies that do not qualify for traditional bank loans. The higher cost of capital is a reflection of the increased risk involved in lending to those firms."
Rohit Arora, Biz2Credit CEO
Credit unions
Credit unions approved 40.1% of loan applications in December, tying an all-time low figure, down one-tenth of a percentage from November, according to the Biz2Credit Index.
Monthly Comparison
Yearly Comparison
"No matter how you look at it, 2018 was still a great year for small business lending. As long as the government shutdown does not continue much longer, we are still in a good place," Arora said. "If SBA lending stalls much longer, it will negatively impact small companies looking for funding, slowing down the strong growth we've seen in this part of the economy."
Rohit Arora, Biz2Credit CEO
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| March 2023 |
Small Business Bank Loan Approvals Dropped Dramatically in March: Biz2Credit Study |
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Biz2Credit Small Business Lending Index finds funding requests at banks declined after Silicon Valley Bank’s collapse; borrowers had more success with non-bank lenders. |
| View Report |
| February 2023 |
Biz2Credit Small Business Lending Index™ Reports a Decrease in Loan Approval Rates at Banks and Credit Unions in February 2023 |
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Business loan approval rates rose at Institutional Investors and Alternative Lenders. |
| View Report |
| January 2023 |
Biz2Credit Small Business Lending Index™ Reports Growth in Business Loan Approval Rates at Non-Bank Lenders in January 2023 |
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Business loan approval rates rose at Institutional Investors, Alternative Lenders and Small Banks, while Big Banks and Credit Unions slipped again. |
| View Report |
| December 2022 |
Biz2Credit Small Business Lending Index™ Reports Little to No Growth in Loan Approval Percentages in 2022 |
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December 2022 approval rates rose slightly at Small Banks, Institutional Investors, and Alternative Lenders while Big Banks and Credit Unions stalled last month. |
| View Report |
| November 2022 |
Biz2Credit Small Business Lending Index™ Reports Loan Approval Percentages Dropped at Banks and Credit Unions in November |
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Approval rates rose slightly at Institutional and Alternative Lenders last month |
| View Report |
| October 2022 |
Biz2Credit Small Business Lending Index™ Reports Loan Approval Percentages Dropped at Banks and Non-Bank Lenders in October 2022 |
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Lending rates at big banks dropped for the fourth consecutive month, while approvals percentages at small banks dipped for the first time in over a year. Non-bank lenders also stalled. |
| View Report |
| September 2022 |
Biz2Credit Small Business Lending Index™ Sees Continued Rise in Business Loan Approval Rates at Small Banks for September 2022 |
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Loan approval percentages down slightly at big banks, Institutional and Alternative lenders along with Credit Unions show growth |
| View Report |
| August 2022 |
Biz2Credit Small Business Lending Index™ Finds Business Loan Approval Dipped at Big Banks in August 2022 |
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Loan approval percentages down slightly at big banks and credit unions, but small banks and non-bank lenders show continued growth |
| View Report |
| July 2022 |
Biz2Credit Small Business Lending Index™ Finds Business Loan Approval Rates Rose at Small Banks, Dipped at Big Banks in July 2022 |
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Loan approval percentages down slightly at big banks and credit unions, but non-bank lenders show continued growth |
| View Report |
| June 2022 |
Biz2Credit Small Business Lending Index™ Reports Business Loan Approval Rates Rose Slightly in June 2022 |
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Credit Unions slip while all other lender categories rise |
| View Report |
| May 2022 |
Biz2Credit Small Business Lending Index™ Reports Business Loan Approval Rates Up Slightly in May 2022 |
| View Report |
| April 2022 |
Biz2Credit Small Business Lending Index™ Reports Approval Rates Inched Upward in April 2022 |
| View Report |
| March 2022 |
Biz2Credit Small Business Lending Index™ for March 2022 Finds Approval Rates Rise Once Again |
| View Report |
| February 2022 |
Biz2Credit Small Business Lending Index™ for February 2022 Finds Approval Rates Continue to Rise |
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Approval Percentages at Banks and Non-Bank Lenders Are Roughly Half of What They Were at Their Peak in February 2020 |
| View Report |
| January 2022 |
Biz2Credit Small Business Lending Index™ for January 2022 Finds That Loan Approval Rates Increased for Every Category of Lender |
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Approval Percentages at Big Banks, Small Banks, Institutional Lenders, Alternative Lenders and Credit Union Still Are Roughly Half of What They Were in January 2020 |
| View Report |
| December 2021 |
Biz2Credit Small Business Lending Index™ for December Finds Loan Approval Rates Continue to Rise, But at Slow Pace |
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Approval Percentages at Big Banks, Small Banks, Institutional Lenders, Alternative Lenders and Credit Union Still Are Roughly Half of What They Were in December 2019 |
| View Report |
| November 2021 |
Biz2Credit Small Business Lending Index™ for November Finds Loan Approval Rates Continue to Rise at Banks and at Non-Bank Lenders |
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Approval percentages at Big Banks, Small Banks, Institutional Lenders, Alternative Lenders rise; Credit Unions flat in November |
| View Report |
| October 2021 |
Biz2Credit Small Business Lending Index™ for October Finds Loan Approval Rates Rose at Banks and at Non-Bank Lenders for Sixth Straight Month |
| View Report |
| September 2021 |
Biz2Credit Small Business Lending Index™ for September Finds Loan Approval Rates Rise at Banks and at Non-Bank Lenders for Fifth Straight Month |
| View Report |
| August 2021 |
Biz2Credit Small Business Lending Index™ for August Finds Loan Approval Rates Rise at Banks and at Non-Bank Lenders |
| View Report |
| July 2021 |
Biz2Credit Small Business Lending Index™ Finds Loan Approval Rates Rose at Banks and at Institutional and Alternative Lenders in July 2021 |
| View Report |
| June 2021 |
Biz2Credit Small Business Lending Index™ Finds June 2021 Loan Approval Rates Increased for All Categories of Lenders |
| View Report |
| May-2021 |
Now That PPP Lending Has Ended, Biz2Credit Small Business Lending Index™ Finds May 2021 Loan Approval Rates Increase for Banks and Non-Bank Lenders |
| View Report |
| April-2021 |
Biz2Credit Small Business Lending Index™ Finds April 2021 Non-PPP Loan Approval Rates Move Little for All Types of Lenders |
| View Report |
| March 2021 |
Biz2Credit Small Business Lending Index™ Finds March 2021 Non-PPP Loan Approval Rates Trending Upwards for All Categories of Lenders |
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PPP Lending Still Dominates Small Business Loan-Making in March 2021 |
| View Report |
| February 2021 |
Biz2Credit Small Business Lending Index™ Finds Loan Approval Rates in February 2021 Changed Little from January, But Dropped Dramatically from February 2020 |
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As Small Business Businesses Apply for PPP Funding, Approval Percentages for Traditional Loans Plummet |
| View Report |
| January 2021 |
Biz2Credit Small Business Lending Index™ Reports Loan Approval Rates at Banks Increased Slightly in January 2021, But Are Down More Than 50% from One Year Ago |
| View Report |
| December 2020 |
Biz2Credit Small Business Lending Index™ Reports Loan Approval Rates at Banks Declined in December 2020, Are Down More Than 50 Percent from One Year Ago |
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Approval percentages for all categories of lenders dropped more than 50% from December 2019 |
| View Report |
| November 2020 |
Biz2Credit Small Business Lending Index™ Reports Loan Approval Rates at Banks Declined in November 2020, Are Down More Than 50 Percent from One Year Ago |
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Approval percentages are down 50% or more for all categories of small business lenders as the pandemic surges |
| View Report |
| October 2020 |
Small Business Loan Approval Rates at Banks Declined in October 2020: Biz2Credit Small Business Lending Index™ |
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Small Businesses Capital Is Hard to Secure |
| View Report |
| September 2020 |
Small Business Loan Approval Rates at Banks Fell Again in September 2020: Biz2Credit Small Business Lending Index™ |
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Small Businesses in Limbo Awaiting PPP Loan Forgiveness |
| View Report |
| August 2020 |
Small Business Loan Approval Rates at Banks Fell in August 2020: Biz2Credit Small Business Lending Index™ |
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Slight Declines in Approval Percentages at Alternative Lenders and Credit Unions |
| View Report |
| July 2020 |
Small Business Loan Approval Rates at Banks Rose in July 2020: Biz2Credit Small Business Lending Index™ |
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Improvement in Approval Percentages at Banks and Institutional Lenders for Companies Applying for Non-PPP Loans, While Alternative Lenders and Credit Unions Slip |
| View Report |
| June 2020 |
Small Business Loan Approval Rates Rebounded in June 2020: Biz2Credit Small Business Lending Index™ |
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Improvement in Approvals for Companies Applying for Non-CARES Act Loans |
| View Report |
| May 2020 |
Small Business Loan Approval Rates Rebounded in May 2020: Biz2Credit Small Business Lending Index™ |
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Improvement in Approvals for Companies Applying for Non-CARES Act Loans |
| View Report |
| April 2020 |
Small Business Loan Approval Rates Dropped to Record Lows in April 2020: Biz2Credit Small Business Lending Index™ |
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PPP Lending Dominates Small Business Lending, but Some Companies Applied for Non-CARES Act Funding |
| View Report |
| March 2020 |
Small Business Loan Approval Rates Plummet in March 2020: Biz2Credit Small Business Lending Index™ |
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All Categories of small business lenders nosedive as coronavirus wreaks havoc on the economy |
| View Report |
| February 2020 |
Small Business Loan Approval Rates at Big Banks Remain at Record High in February 2020: Biz2Credit Small Business Lending Index™ |
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Small Banks and Alternative Lenders drop, and Credit Unions remain at all-time low |
| View Report |
| January 2020 |
Small Business Loan Approval Rates at Big Banks Reach New Record in January 2020: Biz2Credit Small Business Lending Index™ |
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Small banks drop slightly, while Credit Unions hit new bottom |
| View Report |
| December 2019 |
Banks’ Small Business Loan Approval Rates Hit Record High in December 2019: Biz2Credit Small Business Lending Index™ |
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Improvement seen at big banks, small banks, and institutional investors |
| View Report |
| November 2019 |
Big Banks’ Small Business Loan Approvals Continue to Rise, Reach New Record High in November, According to Biz2Credit Small Business Lending Index™ |
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Improvement seen in lending by big banks, small banks, and institutional investors in November |
| View Report |
| October 2019 |
Big Banks’ Small Business Loan Approvals Hit New Record in October, According to Biz2Credit Small Business Lending Index™ |
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Strength seen in lending by big banks, small banks, and institutional investors last month |
| View Report |
| September 2019 |
Small Business Loan Approvals at Big Banks Hit New Record in September, According to Biz2Credit Small Business Lending Index™ |
| View Report |
| August 2019 |
Small Business Loan Approvals at Banks Continue to Reach New Heights, According to August 2019 Biz2Credit Small Business Lending Index™ |
| View Report |
| July 2019 |
Small Business Loan Approvals at Banks Hit Record Highs, According to July 2019 Biz2Credit Small Business Lending IndexTM |
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Alternative Lending Drops and Credit Unions Sink to a Record Low |
| View Report |
| June 2019 |
Small Business Loan Approvals at Big Banks Hit Record Highs, According to June 2019 Biz2Credit Small Business Lending IndexTM |
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Big Banks, Regional and Community Banks, and Institutional Lenders Climb, While Alternative Lending Drops and Credit Unions Sink to New Low |
| View Report |
| May 2019 |
Small Business Loan Approvals at Big Banks Stay at Record Post-Recession High, According to May 2019 Biz2Credit Small Business Lending IndexTM |
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Small Banks and Institutional Lenders Climb, Credit Union Lending Remains at Post-Recession Low, Alternative Lending Stalls Again |
| View Report |
| April 2019 |
Small Business Loan Approvals at Banks Jumped Again in April Biz2Credit Small Business Lending IndexTM |
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Credit Union Lending Remains at Post-Recession Low |
| View Report |
| March 2019 |
Small Business Loan Approvals at Big Banks Hit New High: Biz2Credit Small Business Lending IndexTM |
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Credit Union Lending Percentages Drop to Historic, Post-Recession Low |
| View Report |
| February 2019 |
Small Business Loan Approvals at Big Banks Hit New High; Other Categories of Lender Dip Slightly, According to Biz2Credit Small Business Lending IndexTM |
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Lending Atmosphere Still Solid for Small Business Borrowers |
| View Report |
| January 2019 |
Government Shutdown Slows SBA Lending Volume, But Approval Percentage Dip Only Slightly in January, According to Biz2Credit Small Business Lending IndexTM |
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Overall Economic Strength Still Bodes Well for Small Businesses in Search of Capital |
| View Report |
| November 2018 |
Big Banks Approved Small Business Loans at Pre-Recession Rates, Small Banks Granted More Than Half of Their Funding Requests in November, According to Biz2Credit Small Business Lending IndexTM |
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Business loan approvals rise for banks, while institutional lenders, alternative lenders and credit unions dip slightly |
| View Report |
| December 2018 |
Government Shutdown Hurts SBA Lending at Banks in December, According to Biz2Credit Small Business Lending IndexTM |
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Business loan approval percentages continue to rise at big banks and institutional lenders, while alternative lenders and credit unions again dip slightly |
| View Report |
| October 2018 |
Big Banks Hit Record High Small Business Loan Approval Percentages in October, According to Biz2Credit Small Business Lending IndexTM |
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Loan application volume and approvals rise for banks, institutional lenders and alternative lenders. |
| View Report |
| September 2018 |
Big Banks Hit Record High Small Business Loan Approval Percentages in September, According to Biz2Credit Small Business Lending IndexTM |
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Loan application volume and approvals rise at banks, both large and small |
| View Report |
| August 2018 |
Big Banks and Institutional Lenders Hit Record High Small Business Loan Approval Percentages in August, According to Biz2Credit Small Business Lending IndexTM |
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Loan application volume and approvals rise during normally slow period. |
| View Report |
| June 2018 |
Loan Approval Percentages Rise for All Categories of Lenders, Reach New Heights for Banks and Institutional Lenders in June, According to The Biz2Credit Small Business Lending IndexTM |
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Optimism About The Economy Reflected in Figures |
| View Report |
| April 2018 |
Small Business Loan Approval Percentages Again Surge at Big Banks in April, According to Biz2Credit Small Business Lending IndexTM |
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Small Increases Mean Millions in Profits for Banks with $10 Billion or More in Assets |
| View Report |
| May 2018 |
Small Business Loan Approval Percentages Hit Record Highs for Banks and Institutional Lender in May, According to Biz2Credit Small Business Lending IndexTM |
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Strong Economy and Job Growth Reflected in Figures |
| View Report |
| March 2018 |
Interest Rate Hikes Push Small Business Loan Approval Percentages Higher at Big Banks in March, According to Biz2Credit Small Business Lending IndexTM |
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Small Increases Mean Millions in Profits for Banks with $10 Billion or More in Assets |
| View Report |
| February 2018 |
Boom in Technology and Ecommerce Spark Small Business Loan Approval Percentages in February 2018, According to Biz2Credit Small Business Lending IndexTM |
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Commercial loans spur strong month as small business loan approvals hit post-recession heights |
| View Report |
| January 2018 |
Small Business Loan Approval Percentages Hit New High Mark at Big Banks in January 2018, According to Biz2Credit Small Business Lending IndexTM |
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New Year starts strongly for small business lending as approval percentages and volume of loan requests increase |
| View Report |
| December 2017 |
Small Business Loan Approval Percentages Hit New Heights at Big Banks and Institutional Lenders in December 2017, According to Biz2Credit Small Business Lending IndexTM |
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The calendar year 2017 was a strong one overall for small business lending |
| View Report |
| November 2017 |
Small Business Loan Approval Percentages Rose for Banks and Non-Bank Lenders in November 2017, According to Biz2Credit Small Business Lending IndexTM |
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Study reports new record highs for big banks and institutional investors as every category of lenders improved in November |
| View Report |
| October 2017 |
Big Banks Approved 25 Percent of Small Business Loan Applications in October 2017, to Reach Post-Recession High, According to Biz2Credit Small Business Lending IndexTM |
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Study shows continuing trend of rising approval percentages for big banks and institutional lenders while alternative lenders and credit unions stall |
| View Report |
| September 2017 |
Bank and Institutional Lender Loan Approval Rates Climbed in September 2017, According to Biz2Credit Small Business Lending IndexTM |
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Study reveals increases in approval percentages for big banks, small banks and institutional lenders; alternative lenders and credit unions stall |
| View Report |
| August 2017 |
Bank Loan Approval Rates Continued to Climb in August 2017, According to Biz2Credit Small Business Lending IndexTM |
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Big banks grant nearly one-in-four funding requests, while small banks approve almost half of applications they receive from small business borrowers |
| View Report |
| July 2017 |
Loan Approval Rates at Big Banks Reached New Post-Recession High in July 2017, According to Biz2Credit Small Business Lending IndexTM |
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Lending Drops by Alternative Lenders Significantly |
| View Report |
| June 2017 |
Loan Approval Rates Rebound at Big Banks in June 2017, According to Biz2Credit Small Business Lending IndexTM |
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Lending Continues to Stall at Alternative Lenders, Credit Unions and Small Banks |
| View Report |
| May 2017 |
Loan Approval Rates Drop at Banks and Alternative Lenders in May 2017, According to Biz2Credit Small Business Lending IndexTM |
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Institutional Lenders Experience a Slight Increase |
| View Report |
| April 2017 |
Lending Approval Rates Rebound at Big Banks in April 2017, According to Biz2Credit Small Business Lending IndexTM |
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Lending at Small Banks and Institutional Lenders Also Experience Uptick as Loan Approval Rates at Credit Unions and Alternative Lenders Continues to Falter |
| View Report |
| March 2017 |
Small Biz Lending Approval Rates Improve at Institutional Investors and Small Banks, Stall at Big Banks in March 2017, According to the Biz2Credit Small Business Lending IndexTM |
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Lending at Alternative Lenders and Credit Unions Continues to Falter |
| View Report |
| February 2017 |
Small Biz Lending Approval Rates Surge at Big Banks, Institutional Investors: Biz2Credit Small Business Lending IndexTM |
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Lending at Alternative Lenders Continues to Falter; Credit Union Loan Approval Rates Remain Stagnant |
| View Report |
| January 2017 |
Small Biz Loan Approval Rates Improve to New All-Time Highs at Big Banks, According to Biz2Credit Small Business Lending IndexTM |
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Lending at Small Banks, Institutional Investors Remains Stagnant as Credit Unions Continue to Falter |
| View Report |
| December 2016 |
Small Biz Loan Approval Rates Reach New Heights at Big Banks and Institutional Lenders as 2016 Ends, According to Biz2Credit Small Business Lending IndexTM |
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Alternative Lenders and Credit Unions Continue to Falter |
| View Report |
| November 2016 |
Small Biz Loan Approval Rates at Banks and Institutional Lenders Reach New Heights in November, According to Biz2Credit Small Business Lending Index |
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Alternative Lenders and Credit Unions Continue to Plummet |
| View Report |
| October 2016 |
Small Biz Loan Approval Rates at Big Banks and Institutional Lenders Continued Surge in October, According to Biz2Credit Small Business Lending Index |
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Small banks, Alternative Lenders and Credit Unions Experience Setbacks |
| View Report |
| August 2016 |
Small Biz Loan Approval Rates Rebound at Big Banks, Institutional Lenders in August 2016, According to Biz2Credit Small Business Lending Index |
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Small banks and Alternative Lenders Experience Setbacks |
| View Report |
| September 2016 |
Small Biz Loan Approval Rates at Big Banks and Institutional Lenders Continued Surge in September, According to Biz2Credit Small Business Lending Index |
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Small banks, Alternative Lenders and Credit Unions Experience Setbacks |
| View Report |
| July 2016 |
Small Biz Loan Approval Rates Drop at Big Banks and Alternative Lenders in July 2016, According to Biz2Credit Small Business Lending Index |
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Institutional Lenders and Small Banks Fill Void |
| View Report |
| June 2016 |
Small Biz Loan Approval Rates at Banks Continue to Improve in June 2016, According to Biz2Credit Small Business Lending Index |
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Brexit Does Little to Hurt the U.S. Small Business Lending Marketplace |
| View Report |
| May 2016 |
Small Biz Loan Approval Rates at Big Banks and Institutional Investors Improve in May 2016, According to Biz2Credit Small Business Lending Index |
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Ahead of Federal Reserve's Next Meeting, Lending Falters at Small Banks, Alternative Lenders, and Credit Unions |
| View Report |
| April 2016 |
Loan Approval Rates at Banks Improve in April 2016, While Alternative Lenders' Percentages Drop Significantly, According to Biz2Credit Small Business Lending IndexTM for April 2016 |
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Alternative Lenders, Credit Unions and Institutional Lenders Falter |
| View Report |
| March 2016 |
Loan Approvals at Big Banks Continue to Climb, Hit New Post-Recession High and Institutional Lenders Increase Slightly, Dip at Small Banks and Credit Unions, According to Biz2Credit Small Business Lending IndexTM for March 2016 |
| View Report |
| February 2016 |
Loan Approvals at Banks and Institutional Lenders Increase Slightly, While Small Banks and Credit Unions Dip, According to Biz2Credit Small Business Lending IndexTM for February 2016 |
| View Report |
| January 2016 |
Stock Market Volatility Leads to Drop in Loan Approvals at Banks, Credit Unions, According to Biz2Credit Small Business Lending IndexTM for January 2016 |
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Institutional Lenders and Alternative Lenders Capitalize on Slow Month for Mainstream Financial Institutions |
| View Report |
| August 2014 |
Big Bank Approval Rates for Small Business Loans Hit Record High for the Third Consecutive Month, According to August 2014 Biz2Credit Small Business Lending IndexTM |
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Institutional Lenders Slowly and Steadily Become a Force in Small Business Finance |
| View Report |
| September 2014 |
Big Bank Approval Rates for Small Business Loans Continue to Climb, According to September 2014 Biz2Credit Small Business Lending IndexTM |
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Small Business Financial Health Improves Over Last 12 Months, Creates Demand for Reasonably-Priced Loans |
| View Report |
| October 2014 |
Big Bank Approval Rates for Small Business Loans Drop, According to October 2014 Biz2Credit Small Business Lending IndexTM |
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Overall small business health improves at the one year anniversary of the government shutdown despite setback month in small business lending |
| View Report |
| February 2015 |
Lending Approval Rates at Big Banks, Institutional Lenders Continue to Surge, According to February 2015 Biz2Credit Small Business Lending IndexTM |
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Loan Approval Percentages at Small Banks, Alternative Lenders and Credit Unions Continue to Decline |
| View Report |
| November 2014 |
Small Business Loan Approval Rates Rebound at Big Banks, According to November 2014 Biz2Credit Small Business Lending IndexTM |
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Lending Approval Rates Reach New All-Time High at Big Banks Drop for Sixth Consecutive Month at Small Banks |
| View Report |
| December 2014 |
Small Business Financing at Big Banks and at Institutional Investors Finishes Strong in Landmark Year, According to December 2014 Biz2Credit Small Business Lending IndexTM |
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Loan Approval Rates Drop for Seventh Consecutive Month at Small Banks, Alternative Lenders and Credit Unions Also Stalled as 2014 Ended |
| View Report |
| January 2015 |
Small Business Financing at Big Banks and at Institutional Investors Hit New Post-Recession Highs, Credit Unions Dip to Historic Low, According to January 2015 Biz2Credit Small Business Lending IndexTM |
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Institutional Investors Gain Market Share From Small Banks and Alternative Lenders |
| View Report |
| April 2015 |
Loan Approval Rates at Big Banks, Institutional Lenders Continue Upwards, Set Record Highs, According to April 2015 Biz2Credit Small Business Lending IndexTM |
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Approval Percentages at Small Banks, Alternative Lenders and Credit Unions Mostly Stagnant |
| View Report |
| March 2015 |
Lending Approval Rates at Big Banks, Institutional Lenders Continue to Surge, According to March 2015 Biz2Credit Small Business Lending IndexTM |
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Loan Approval Percentages at Small Banks, Alternative Lenders and Credit Unions Drop Again |
| View Report |
| September 2015 |
Biz2Credit's September Small Business Lending IndexTM Shows Institutional Lenders Hit Record High |
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Big Bank Loan Approvals Increased While Small Bank and Credit Union Approvals Declined |
| View Report |
| October 2015 |
Biz2Credit's October Small Business Lending IndexTM Shows Highest Spike in Big Bank Lending since the Great Recession |
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Big Bank and Institutional Lender Loan Approval Rates Continue to Thrive |
| View Report |
| November 2015 |
Small Business Loan Approval Rates by Institutional Lenders Continue Increase, According to Biz2Credit's November Small Business Lending IndexTM |
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Looming Interest Rate Hike Could Lead to Higher Loan Approval Rates |
| View Report |
| December 2015 |
Small Business Loan Approval Rates End Year on High Note at Big Banks and Institutional Lenders, According to Biz2Credit's December Small Business Lending IndexTM |
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Optimism for Continued Growth in Loan Approval Percentages as New Year Begins |
| View Report |
| July 2015 |
Biz2Credit's July Small Business Lending IndexTM Shows Institutional Investors Dominating Market |
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Big Banks Gain Market Share While Small Banks and Credit Unions See Dip |
| View Report |
| June 2015 |
Approval Rates at Big Banks, Institutional Lenders Hit New Highs, According to June 2015 Biz2Credit Small Business Lending IndexTM |
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Approval Percentages at Small Banks, Alternative Lenders and Credit Unions Stall |
| View Report |
| May 2015 |
Approval Rates at Big Banks, Institutional Lenders Hit New Highs, According to May 2015 Biz2Credit Small Business Lending IndexTM |
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Approval Percentages at Small Banks, Alternative Lenders and Credit Unions Continue to Falter |
| View Report |
| April 2013 |
Biz2Credit Small Business Lending Index Reports Jump in Lending Approvals at Big Banks for April 2013 |
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Monthly Index Reports All-Time Index High in Approval Rates by Big and Small Banks; Credit Unions Continue to Slump |
| View Report |
| June 2013 |
Biz2Credit Small Business Lending Index for June 2013 Reports Slight Dip in Approvals at Big Banks and Credit Unions, Slight Increases in Approval Percentages by Regional Banks and Alternative Lenders |
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SBA Express Loan Applications and Approvals Expected to Rise in Second Half of the Year, According to Biz2Credit CEO Rohit Arora |
| View Report |
| July 2013 |
Biz2Credit Small Business Lending Index for July 2013 Reports Jump in Big Bank Approval Rates and the End of the Credit Union Slide |
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Overall Improvement in the Economy Bodes Well for Entrepreneurs in Search of Capital, According to Biz2Credit Study |
| View Report |
| May 2013 |
Biz2Credit Small Business Lending Index for May 2013 Reports 70 Percent Increase in Big Bank Loan Approvals Over the Past 12 Months |
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Monthly Index Reports All-Time Index High in Approval Rates by Big Banks; Approvals at Small Banks, Alternative Lenders and Credit Unions Drop |
| View Report |
| August 2013 |
Biz2Credit Small Business Lending Index for August 2013 Reports Record Big Bank Approval Rates for Second Straight Month While Small Banks Granted More Than Half of Loan Requests |
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Analysis Finds Slight Increase in Credit Union Approvals, Small Dip by Alternative Lenders |
| View Report |
| September 2013 |
Biz2Credit Small Business Lending Index for September 2013 Reports Slight Dip in Bank Approval Rates for Small Business Loans, Impact of Government Shutdown Concerns |
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Loan Approvals Were on Par for Another Record High, Until Anxiety Over the Government Shutdown Intensified at the End of the Month |
| View Report |
| November 2013 |
Biz2Credit Small Business Lending Index for Nov. 2013 Reports Rebound in Loan Approval Rates at Banks and Other Lenders |
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Lending Approval Rates at Banks Return to Pre-Government Shutdown Levels |
| View Report |
| December 2013 |
Biz2Credit Small Business Lending Index for Dec. 2013 Reports Loan Approval Rates Hit All-time Index High at Big Banks and Alternative Lenders |
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Monthly Analysis Finds Decrease in Approval Rates at Small Banks as SBA Loans Stall |
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| January 2014 |
Biz2Credit Small Business Lending Index for Jan. 2014 Reports New High Approval Rates at Big and Small Banks |
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Institutional Lenders, a New Category of the Biz2Credit Index, Increasingly Seeking Small Business Lending Deals |
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| February 2014 |
Bank Lending to Small Companies Improved Dramatically in Feb. 2014; Biz2Credit Small Business Lending Index Reports Record High Loan Approval Rates at Banks |
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Credit Unions and Alternative Lenders Experience Decrease in Approvals as Banks Grant Increasing Numbers of Non-SBA Loans |
| View Report |
| March 2014 |
Bank Lending to Small Companies Mixed in March 2014; Biz2Credit Small Business Lending Index Reports Drop in Approval Rates at Big Banks and Rise in Small Banks |
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Approval Rates by Alternative Lenders and Credit Unions Slip, While Lending by Institutional Investors Climbs |
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| May 2014 |
Biz2Credit Small Business Lending Index Reports Approval Rates at Banks and Institutional Lenders Soared in May 2014 |
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All Categories of Lenders Are Approving Increasing Percentages of Loan Requests |
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| April 2014 |
Biz2Credit Small Business Lending Index Reports Record Breaking Approval Rates at Big Banks and Institutional Lenders in April 2014 |
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Approval Rates by Small Banks, Alternative Lenders and Credit Unions Slip |
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| June 2014 |
Biz2Credit Small Business Lending IndexTM Reports Approval Rates at Big Banks Reached Post-Recession High in June 2014 |
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A Sign of Strength in the Economy |
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| July 2014 |
Big Bank Approval Rates for Small Business Loans Continue to Rise, According to July 2014 Biz2Credit Small Business Lending IndexTM |
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Small Banks Lose Ground to Larger Competitors, While Institutional Lenders Become a Growing for in Small Business Finance |
| View Report |
| October 2013 |
Government Shutdown Halts Small Business Lending: Biz2Credit Small Business Lending Index for Oct. 2013 Reports Significant Drop in Loan Approval Rates at Banks |
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Small Bank Approval Rates Fall Below 50%, Alternative Lending Thrived as Borrowers Scrambled for Capital in October |
| View Report |
| July 2018 |
Strong Economy Leads to Record High Small Business Loan Approval Percentages at Big Banks in July, According to The Biz2Credit Small Business Lending IndexTM |
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All categories of lenders to small businesses performed well in July 2018 |
| View Report |
About Biz2Credit Small Business Lending IndexTM
The Biz2Credit Small Business Lending IndexTM is an analysis of 1,000 monthly loan applications on the Biz2Credit website. The Index reports the loan approval rates of small business financing requests at Big Banks ($10 billion+ in assets), local and regional banks and non-bank lenders (credit unions, Community Development Financial Institutions (CDFI), micro lenders, and others).
Unlike other surveys, the results are based on primary data submitted by more than 1,000 entrepreneurs who applied for funding on Biz2Credit's online lending platform, which connects small business borrowers with sources of capital.
Results of the Biz2Credit Small Business Lending IndexTM have been reported by The Wall Street Journal, Bloomberg BusinessWeek, Entrepreneur.com, Bloomberg Radio's "The Hays Advantage", SBA Radio, NY Daily News, Crain's NY Business, Michigan Banker, and other media.