Big banks continue to bring cheer for small businesses. According to the latest Biz2Credit Small Business Lending Index, a monthly analysis of loan approval rates, approval rates at big banks improved one-tenth of a percent to 24.6 percent in August, a new high on the index. Biz2Credit Lending Index August 2017 Small banks also gave […]
Small Business Loan Approvals Hit New High at Big Banks Read More »
Small business lenders have unprecedented opportunities ahead of them, according to Rohit Arora, the CEO of Biz2Credit. The only thing is, not all lenders are positioned to seize these opportunities. The ones that are, says Arora, are the lenders that understand two things. “They understand the changing expectations of today’s borrowers. They also understand how
Fintech Opens Opportunities for Small Business Lenders Read More »
The credit bureaus know a lot about you, but they don’t know everything. Credit Report Information The bureaus gather data about your past use of credit into reports, and that information makes up your credit scores. Lenders, landlords, employers and others might use your reports to help size you up. To shake the feeling that they
While almost all small businesses require financing at some point, few are using the resources available to them. This surprising insight comes from a new survey conducted by Fundera, a small business lending marketplace. The report found 80 percent of small business owners have never set foot in their Small Business Administration (SBA) branch, an
80 Percent of Small Business Owners Have Never Visited Their SBA Branch Read More »
Small business loan approval rates at big banks recovered in June. Biz2Credit Lending Index June 2017 According to the latest Biz2Credit Small Business Lending Index, loan approval rates at big banks improved two-tenths of a percent to 24.3 percent, matching an all-time index high. Significantly, this marked the eighth time in the last 12 months
Big Bank Lending for Small Businesses Returns to Post-Recession Highs Read More »
By Carl Faulds When you’re seeking financing, particularly financing to power growth, it’s all too easy to overlook one important question: Can your small business actually afford the borrowing? Here are steps to take to determine whether your small business can afford a loan. Calculating your debt service coverage ratio To understand what you can
Can Your Company Actually Afford a Small Business Loan? Read More »
On July 1 there will be significant changes to consumer credit scores as America’s three largest credit-reporting agencies (Equifax, Experian and TransUnion) will be dropping nearly all civil debts and some tax liens from their reports. These changes will impact individual consumers but could have a greater impact on small business owners who tend to
One in Six Small Business Owners Set to Get Good Credit Score News on July 1 Read More »
May turned out to be a tough month for small businesses seeking funds. Loan approval rates at big banks, small banks, alternative lenders and credit unions declined, the latest Biz2Credit Small Business Lending Index has revealed. Biz2Credit Lending Index May 2017 Approval Rates Drop Almost Everywhere The newly published report reveals approval rates at big
Banks, Other Lenders See Small Business Approval Rates Drop in May Read More »
