Small Business Loan Report

We’ve all heard that the government is making it a priority to increase small business lending by providing incentives to banks to make small business loans. But, is it working? Some say no.

If you’ve applied for small business credit and been denied, offered less than you requested, or less than favorable terms, you’re not alone. An April 2010 report issued by the Federal Reserve Bank of Atlanta details the results of a small business lending survey. It finds that 40% of surveyed businesses have had credit applications declined. While the survey does not claim to provide a truly random sample, and warned that it should not be construed as a statistically representative sample for the nation, it does provide insight into the current lending conditions experienced by the small business community.

The Small Business Credit report covers historical sources of credit. Then for the past 3 months it reports on channels used when small businesses sought credit, reasons for seeking credit, reasons for not seeking credit, extent to which financing needs were met and denial rates by channel. Small businesses were also asked about plans to seek credit over the next six months, and obstacles they face in obtaining credit.

Download the Small Business Credit Report now.