Smart Borrower Blog

Archive for the ‘Business Borrowing’ Category

Business Borrowing for Equipment Rose 14% in August

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, […]

Small Business Lending Hits Record High

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 […]

Small Business Loan Approvals Top Record Highs

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 […]

Banks Loosen Standards on Commercial Loans

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 […]

Small Business Borrowing Climbs for 5th Straight Month

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 […]

Fed Hikes Interest Rate to Highest Level in a Decade

With the economy pushing forward, the Federal Reserve’s Federal Open Market Committee raised its target interest rate once again, pushing it to the highest level since 2008. During its March 21 meeting, the Fed increased its federal funds rate to 1.75%, up from 1.5%. Rates still remain well below the historical average of 5%. “The […]

Study: Companies That Use Business Loans From the Start Are More Successful

Small businesses that borrow small business loans are much more likely to survive and be successful than those that don’t, according to a new study. Those who start funding their companies immediately with personal loans are much less likely to do well. The study was produced by finance professors Rebel Cole of Florida Atlantic University […]

Business Loan Approvals Rise as Optimism Soars

Large and small U.S. banks approved a greater percentage of business loan applications in January, according to new data from Biz2Credit.com. At the same time, small business owners are feeling more optimistic than ever about the economic environment. “Despite some recent bumps, the economy has done well during President Trump’s first year in office, and […]

Business Borrowing Demand Rises in 3rd Quarter, Supply Remains Subdued

The U.S. economy is making consistent progress, causing more business owners to seek loans to grow their companies but the supply of credit is not keeping pace. According to the quarterly small business survey from Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet Corp. released last week, demand for business financing […]

Small Business Loan Approvals by Big Banks Hit Post-Recession High

America’s big banks approved 25% of all small business loan requests in October, according to data from Biz2Credit, the highest level since the end of the Great Recession. The Biz2Credit Small Business Lending Index rose two-tenths of a percent from 24.8% in September. One year ago, the approval rate among big banks (those with $10 billion […]