Ask These 4 Questions To Find The Right Loan For Your Small Business | Creditborrow.com

Small-Business Loan Approval Rate at Big Banks Up 20% Over Year Ago | ecreditdaily.com

Here are 4 important questions to ask before you start looking.
For the original version including any supplementary images or video, visit http://blog.creditborrow.com/?p=17762

While a 20.8 percent approval rate for small business loans at big banks seems like a very small number, its nearly 20 percent higher than a year ago. Biz2Credit s Small Business Lending Index for December 2014 also saw loan approval rates drop for a seven straight month at small banks. Big banks ($10 billion-plus in assets) approved 21.1 percent of small business loan requests in December. Thats up from 20.8 percent in November, and marks back-to-back months of increases. The higher percentage of loan approvals at big banks is good news for small business owners. However, big banks typically seek to grant loans of $500,000 or more and much prefer loans in excess of $2 million, said Biz2Credit CEO Rohit Arora, who oversaw the research. Many startups and young companies do not need that much money.
For the original version including any supplementary images or video, visit http://ecreditdaily.com/2015/01/small-business-loan-approval-rate-at-big-banks-up-20-over-year-ago/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s