According to the latest Biz2Credit Small Business Lending Index, my company's monthly analysis on small
business loan approval rates, big banks are granting one in four requests for funding.
Small
business loan approval rates at big banks ($ 10 billion + in assets) rose to 20 % in June from 19.6 % in May, while approval rates at small banks slipped to 51.4 % from to 51.6 % last month.
Biz2Credit noted small
business loan approval rates remain stagnant among institutional lenders.
This is consistent with nationwide statistics, which report
business loan approval rates for women are 15 to 20 percent lower than they are for men.
Not exact matches
Biz2Credit noted small -
business -
loan approval rates remain stagnant among institutional lenders.
And, many times, short - term
business loans may come with faster
approval rates than more traditional long - term financing at the bank — which helps when time is of the essence.
Automatic payment from a U.S. Bank
Business checking account is required to receive the lowest
rate, but is not required for
loan approval.
And, many times, short - term
business loans may come with faster
approval rates than more traditional long - term financing at the bank — which helps when time is of the essence.
Fundation can provide money in as fast as one
business day from
loan approval, but it also offers reasonable
rates and terms and has clear - cut eligibility requirements.
SBA
loans offer greater
approval rates, low interest
rates, and can help your
business grow.
In October,
loan approval rates at big banks and institutional investors improved to record highs of 23.5 % and 63.1 % respectively, according to the Biz2Credit Small
Business Lending Index.
3 ways to beat the big - bank brush - off — Small banks tend to have higher
approval rates for small -
business loans.