Smart Borrower Blog

Archive for the ‘Business Borrowing’ Category

Small Business Loan Approvals Top Record High

Aug 7th, 2019 @ 8:54 PM by Amber Nelson

Big banks are approving a post-recession record high share of small business loan applications, according to the Biz2Credit Small Business Lending Index, while credit unions are approving fewer than ever. Big business loan applications were approved at a rate of 27.7% in July by big banks – those with $10 billion or mores in assets. […]

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PayPal Reaches $10 Billion in Small Business Lending

Jun 5th, 2019 @ 4:35 PM by Amber Nelson

PayPal announced that it has now made more than $10 billion in small business loans, an intriguing accomplishment considering its traditional reputation for payments rather than loans. Those loans were made to 225,000 small business owners around the world. PayPal has a presence in Australia, Germany and the UK. It also operated in Mexico in […]

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Small Business Lending Fell 9.7% in December

Mar 6th, 2019 @ 2:49 PM by Amber Nelson

U.S. small businesses pulled back on borrowing money in December 2018, according to recent data from PayNet, perhaps a sign of lower confidence in the overall economy. The PayNet Small Business Lending Index declined 9.7% in December from November, and 7% from the year before. That represents the first yearly decrease in more than a […]

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Government Shutdown Delays $2 billion in Small Business Loans

Jan 23rd, 2019 @ 10:13 PM by Amber Nelson

As the government shutdown drags into its third week, small businesses are feeling the pinch when it comes to loans. In the wake of the shutdown, the Small Business Administration has stopped approving SBA-backed small business loans, leaving many U.S. entrepreneurs strapped for cash that otherwise would have been readily available. Even the though the […]

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Small Business Lending Posts Double-Digit Growth

Dec 5th, 2018 @ 10:27 PM by Amber Nelson

U.S. small businesses borrowed much more in October, according to a new report from PayNet, growing by double-digits from September, a sign of increased investor confidence. The Thomson Reuters/PayNet Small Business Lending Index – a measure of total small business loan originations, rose 11% to a seasonally adjusted level of 148.2, up from 133.1 in September. […]

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Business Borrowing for Equipment Rose 14% in August

Oct 4th, 2018 @ 8:50 PM by Amber Nelson

U.S. companies borrowed more for capital investments in August from the year before, according to the Equipment Leasing and Finance Association (ELFA), a continued sign that business confidence in the economy continues to grow. Businesses financed $8.9 billion in new equipment loans, leases and lines of credit in August, up 14% from a year ago, […]

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Small Business Lending Hits Record High

Aug 8th, 2018 @ 8:34 PM by Amber Nelson

Small businesses lending rose to an all-time record high in May, according to the Reuters/Paynet Small Business Lending Index, a welcome sign that the economy is hitting its groove. “Times are unusually good for Main Street businesses and their lenders now,” said PayNet Inc. President William Phelan. “The combination of record-high credit demand and low […]

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Small Business Loan Approvals Top Record Highs

Jun 20th, 2018 @ 7:02 AM by Amber Nelson

Big banks and institutional lenders posted record high approval rates in May for small business loans, according to data from Biz2Credit, a sign of a happy and growing economy. Big banks – those with more than $10 billion in assets – approved 25.96% of all small business loan applications in May, up from 25.7% in April […]

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Banks Loosen Standards on Commercial Loans

May 30th, 2018 @ 7:07 PM by Amber Nelson

Large banks are making sweeter deals on their commercial business loans as they compete with one another to bring back loan growth, according to a report from the regulatory Office the Comptroller of the Currency (OCC). Commercial loan growth fell significantly during the Recession but had come back up to 12% by 2013. Then unexpectedly and […]

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Small Business Borrowing Climbs for 5th Straight Month

Apr 18th, 2018 @ 5:00 PM by Amber Nelson

U.S. small businesses took out more loans in February, according to data from small business information provider PayNet, a sign of greater confidence in the economy even as loan delinquencies rose slightly. The Thomson Reuters/PayNet Small Business Lending Index jumped to 144.8 in February, up 1.0% from January and 12% from the previous years. It […]

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