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Saturday, March 23, 2019

Small business credit approvals reached a record in February

Small business credit approvals reached a record in February




Loan approval ratio for small businesses opens a new window. The number of applicants for credit reached a record 27.2 percent in major banks opens a new window. ($ 10 billion in assets) in February, while approval rates in small banks, alternative lenders and credit unions fell slightly, according to the Biz2Credit Small Business Lending Index for February 2019.

After two months at 27 percent, the approvals of major banks rose slightly in major banks in February. Rohit Arora, chief executive of Biz2Credit, which oversees monthly research from more than 1,000 small companies, said, in general, the cost of capital is relatively low, and small businesses are looking to secure financing. For many companies, recent financial performance has made them worthy borrowers Trustworthy. Commercial credit applications on his company's online lending platform.


"The Fed has slowed its trend of increasingly raising interest rates, and this is good news for borrowers," said Arora, one of the country's leading microfinance experts. "Money flows to borrowers of small businesses, while the cost of capital is still reasonable - especially conventional bank loans."



Small business credit approvals reached a record in February
Small business credit approvals reached a record in February