Strength seen in lending by big banks, small banks, and institutional investors in October 2019
The approval percentage for small business loan applications at big banks ($10 billion+ in assets) inched up one-tenth of a percent to reach 28% for the first time in the post-recession era during October 2019, according to the latest Biz2Credit Small Business Lending Index™.
With yet another interest rate cut by the Federal Reserve, small businesses are benefiting from positive economic conditions that are unrivaled in recent times. It has been a very good year for small businesses that are looking for capital. Better yet, I don’t foresee any changes during the rest of 2019.