Small Business Loan Approval Percentages Rose for Banks and Non-Bank Lenders in November 2017, According to Biz2Credit Small Business Lending Index^TM

"There was a lot of pent up demand for small business credit in the marketplace. With the economy performing well on a number of different levels, borrowers are more confident in their abilities to grow their businesses and to be able to pay the money back," said Biz2Credit CEO Rohit Arora, who oversaw the research.

"The Federal Reserve has increased interest rates from their historic lows, and regulation of the banking industry is subsiding under Trump. Banks both large and small are more likely to lend under the current atmosphere."

"Small banks process a lot of SBA-backed loans, and according to recent figures released by the agency, the current fiscal year has already seen a record amount of SBA lending," added Arora, one of the country's leading experts in small business finance.

"This is particularly good news for startups and young companies that may not yet have a strong credit history. It is certainly less challenging now to secure funding than it was just a few years after the post-recession credit crunch."

"The economy is doing well, the jobs report was solid, and investors from beyond America's shores are entering the small business credit marketplace with success," added Arora. "All of these factors instill confidence in business owners who are contemplating start-up funding or expansion financing."

"Even companies with bad credit histories are currently feeling confident in borrowing. Alternative lenders are taking on more risk because the higher quality borrowers are approaching traditional banks and institutional lenders," Arora explained. "The solid economy makes consumers willing to spend and results in business optimism - especially for companies looking to expand."

"Every category of lender saw higher approval percentage rates last month. It's a good time for borrowers and also for lenders," Arora added.