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Small Business Lending Index January 2017

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Biz2Credit: https://www.biz2credit.com/
Related Resource: http://www.biz2credit.com/small-business-lending-index/january-2017

According to the month of January 2017, Big banks approved 24% of small business loan requests, a slight increase from 23.9% in December 2016.

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Veröffentlicht in: Kleinunternehmen & Unternehmertum
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Small Business Lending Index January 2017

  1. 1. yearly comparison 58.5% 60.8% MONTHLY comparison 58.5%58.6% DEC’16JAN’16 JAN’17 yearly comparison 48.9% 49% 24% 22.7% yearly comparison MONTHLY comparison 24%23.9% 63.4% 63.4%63.4% 62.6% Small Biz Loan Approval Rates Improve to New All-Time Highs at Big Banks Lending at Small Banks, Institutional Investors Remains Stagnant as Credit Unions Continue to Falter January 2017Small Business Lending Index According to the Biz2Credit Small Business Lending IndexTM , a monthly analysis of more than 1,000 loan applications on Biz2Credit.com Loan approval rates at big banks ($10 billion+ in assets) picked up where they left off in 2016, improving to post-recession highs in January 2017, according to the Biz2Credit Small Business Lending Index™, the monthly analysis of more than 1,000 small business loan applications on Biz2Credit.com. Alternative lenders also experienced an uptick in their loan approval rates in the last month. Additionally, loan approval rates at small banks and institutional investors remained stagnant while approval rates at credit unions dropped. About the Biz2Credit Small Business Lending IndexTM Biz2Credit analyzed loan requests ranging from $25,000 to $3 million from companies in business more than two years with an average credit score above 680. Unlike other surveys, the results are based on primary data submitted by more than 1,000 small business owners who applied for funding on Biz2Credit's online lending platform, which connects business borrowers and lenders. TM Loan Approvals at Small banks Loan approval rates at small banks remained stagnant at 48.9% and are near mirror images of its 49% mark in a year-to-year comparison. Although the rates didn’t increase, January 2017 marked the fourth consecutive month that the category of lenders avoided a decrease. “The Dow Jones crossed the milestone mark of 20,000 and optimism to invest in the U.S. is as strong as it has been for a while,” suggested Arora. “I anticipate global institutional lenders will continue to seek high yields from investments in American small business loans.” - Biz2Credit CEO Rohit Arora “ Loan Approvals at Institutional Lenders In addition, institutional lenders’ loan approval rates remained at 63.4%. This ended a six-month streak of increases for this category of lenders. Loan Approvals at Big banks Small business loan approval rates at big banks improved to 24% in January 2017, marking the sixth consecutive month of increases for this category of lenders. Further, loan approval rates at big banks in a year-to-year comparison are up more than a full percentage point as it slowly creeps towards the one-quarter mark of approvals. MONTHLY comparison 48.9%48.9% yearly comparison MONTHLY comparison JAN’17DEC’16 Credit union approvals Loan approval rates at credit unions dropped to a new Index low of 40.8% in January. yearly comparison 40.8% 42.2% MONTHLY comparison 40.8%40.9% JAN’16 JAN’17 Small business loan approvals by Alternative lenders Loan approval rates bounced back considerably at alternative lenders in January, as they approved 58.5% of the funding requests they received, down one-tenth of a percent in a month-to-month comparison. In December 2016, alternative lending approval rates dropped by six-tenths of a percent. “Advancements in technology by mainstream lenders has taken away the competitive advantage of processing loans quickly that alternative lenders long held,” Arora explained. “Once-thriving alternative lenders such as CAN Capital have stopped lending, and smaller alternative lending companies are going out of business. We will see more of consolidation in this category during 2017." - Biz2Credit CEO Rohit Arora “ “Despite political turmoil, the market has responded fairly well since Donald Trump took over the White House. He has brought a business friendly approach,” said Biz2Credit CEO Rohit Arora. “There is still a sense of optimism, especially in the banking sector, because of the prospect that Dodd Frank restrictions might be eased.” - Biz2Credit CEO Rohit Arora “ “Dodd-Frank rules had a significant impact on small banks,” explained Arora, one of the nation’s leading experts in small business finance. “If the regulations are reduced, it could help spur lending by regional and community banks.” - Biz2Credit CEO Rohit Arora “ "Credit unions are hoping that the MBL lending cap could go up with a new regime in Washington,” Arora says. “Otherwise, credit union lending to small businesses will likely remain stagnant.” - Biz2Credit CEO Rohit Arora“ JAN’17DEC’16JAN’16 JAN’17 JAN’17DEC’16JAN’16 JAN’17 JAN’17DEC’16JAN’16 JAN’17 JAN’17