Biz2Credit Small Business Lending Index for August Finds Loan Approval Rates Rise at Banks and at Non-Bank Lenders
Small business loan approval percentages at big banks ($10 billion+ in assets) jumped from 13.8% in July 2021 to 13.9% in August, up by three-tenths of a percentage from one year ago. Meanwhile, small banks’ approvals also rose from 19.1% in July to 19.3% in August, according to the latest Biz2Credit Small Business “Small businesses are again borrowing to improve......