Smart Borrower Blog

Archive for the ‘Business Borrowing’ Category

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 […]

Small Business Loan Approvals Hit Post-Recession High

Big and small banks alike approved record numbers of small business loan applications in July, according to data from Biz2Credit.com, a sign of stronger confidence in the economy. The Biz2Credit Small Business Lending Index showed that big banks (those with $10 billion or more in assets) approved almost a quarter (24.5 percent) of all loans […]

Small Business Borrowing Hits High As Economy Grows

Small business borrowing in the U.S. picked up in May rising to an 11-month high, according to new data, a good sign that demand is increasing and that small firms are feeling more confident about the economic environment. The Thomson Reuters/PayNet Small Business Lending Index, a measure of small business loan volume, increased to 137 […]

Federal Reserve Raises Rates to 9-Year High

The Federal Reserve increased its target interest rate to a range of 1 percent to 1.25 percent Wednesday, the first time in nine years the rate has been over 1 percent. The rise could affect everything from credit card rates to mortgage loans to savings rates. As promised, the Fed raised rates for the second […]

Most Millennials Want to be Small Business Owners

Young Americans have a greater desire than past generations to have their own businesses, but are held back by a lack of funding and knowledge of resources, according to a new study. America’s Small Business Development Centers (America’s SBDC) released a study of generational attitudes towards entrepreneurship and found that 54 percent of Millennials –those born […]

Small Businesses Press Pause on Borrowing in March

U.S. small businesses held off on borrowing more money in March, waiting out the uncertainties of the domestic policies. According to the Thomson Reuters/PayNet Small Business Lending Index, business borrowing slipped in March to a reading of 134, down 1 percent from a year earlier. Compared with February though, the Business Lending Index rose 4 […]

Small Business Loan Approval Rates Remain Strong in March

Small banks and institutional investors approved more U.S. small business loan applications in March , according to data from the Biz2Credit Small Business Lending Index, although approval rates fell among credit unions and alternative lenders. Small banks – those with less than $10 billion in assets – approved 48.9 percent of all small business loan […]

Business Borrowing Fell in January but Still Up from Last Year

U.S. small businesses borrowed less money in January, with borrowing falling to a three-month low, but it increased on an annual basis. The Thomson Reuters/PayNet Small Business Lending Index declined in January to 123.3, down 8 percent from 134 in December. That is the lowest level since October’s 119.8 reading. However, PayNet sees the dip as […]

U.S. Small Businesses 2016 Sales Growth Falls But Profit Margins Rise

American small businesses had a pretty good year, with profit margins growing compared with 2015, notwithstanding the annual sales growth rate dropped from the same period, according to financial information firm Sageworks. Small businesses – those with less than $10 million in annual revenues – saw an average of 7.3 percent growth in sales in […]

Business Loan Delinquencies Rise to 4-Year High, Borrowing Falls

As U.S. small businesses anticipated the results of the presidential election, they borrowed less and fell behind on their business loans at a higher rate in September. According to the Thomson/PayNet Small Business Lending Index, small business borrowing sank to a reading of 128.9, down from results,” notes William Phelan, president of PayNet. “This still […]