Smart Borrower Blog

Archive for the ‘Business Borrowing’ Category

Small Business Loan Approvals Continue to Reach New Heights

Nov 13th, 2019 @ 11:07 AM by Amber Nelson

With a growing economy and an ultra-low unemployment rate, lenders were more willing to approve small business loan applications in October, according to data from Biz2Credit. “With yet another interest rate cut by the Federal Reserve, small businesses are benefiting from positive economic conditions that are unrivaled in recent times,” said Biz2Credit CEO Rohit Arora. […]

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Fed Makes 3rd Rate Cut in 4 Months

Oct 30th, 2019 @ 1:01 PM by Amber Nelson

The Federal Reserve cut its target interest rate again Wednesday, the fourth decrease since July. The move was likely a hedge against mounting international financial trouble and brewing domestic slowing. The new federal funds rate range is 1.5% to 1.75%, representing a cut of 0.25%. Even though the U.S. economy is still in the midst […]

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Small Business Loan Approvals Hit Record High at Big Banks, Record Low at Credit Unions

Oct 9th, 2019 @ 10:20 AM by Amber Nelson

Big and small U.S. banks continued to keep the small business lending spigot wide open in September, according to data from Biz2Credit, resulting in record high approval rates. The Biz2Credit Small Business Lending Index showed that big banks – those with $10 billion or more in assets – approved 27.9% of all small business loan […]

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Small Business Loan Approvals Continue to Hit Record Highs

Sep 11th, 2019 @ 12:24 PM by Amber Nelson

As the economy continues to chug forward, banks big and small are willing to loan more money for small businesses, with loan approvals rising to record highs again in August. According to data from Biz2Credit, big banks – those with $10 billion or more in assets – approved 27.8% of all small business loan applications […]

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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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