Biz2Credit: https://www.biz2credit.com/ Related Resource:https://www.biz2credit.com/small-business-lending-index/december-2017 According to the month of December 2017, Big banks approved 25.2% of small business loan, slightly up from 25.1% compare to November 2017. For further queries, contact us at: 800-200-5678 Follow us at: Twitter: https://twitter.com/biz2credit Facebook: https://www.facebook.com/biz2credit Linkedin: https://www.linkedin.com/company/biz2credit-llc Pinterest: http://www.pinterest.com/biz2credit/ Google+: https://plus.google.com/u/0/+Biz2credit/

1. 25.2%
23.90%
yearly comparison MONTHLY comparison
25.2%25.1%
NOVEMBER’17 DECEMBER’17
Small Business Loan Approval Percentages Hit New Heights at
Big Banks and Institutional Lenders
The calendar year 2017 was a strong one overall for small business lending
DECEMBER 2017BIZ2CREDIT Small Business Lending Index
Business loan approval rates for big banks (25.2%) and institutional lenders (64.3%) hit new heights last month, according
to the latest Biz2Credit Small Business Lending Index™ (December 2017 figures). The monthly analysis examined more
than 1,000 small business loan applications on Biz2Credit.com.
TM
Loan Approvals at Institutional Lenders
loan approval rates in institutional lenders (64.3%) hit new heights last month.
Loan Approvals at Big banks
Small business loan approval rates at big banks (25.2%) hit new heights last month.
Credit union approvals
Loan approval rates at credit unions climber one-tenth of a percent in December as they approved 40.4% of loan
applications last month. Just two months ago, in October, credit unions had hit a record low point for the category.
Small business loan approvals by Alternative lenders
Loan approval rates among alternative lenders in December dropped two-tenths of a percent to 56.7% after a small uptick
in November. Approvals for the category declined every month except November.
“The economy is performing well on many different levels. Holiday retail sales were up, unemployment remain low, and salaries
have gone up a notch”
- Biz2Credit CEO Rohit Arora
“
DECEMBER’16 DECEMBER’17
yearly comparison
40.4%
40.90%
MONTHLY comparison
40.4%40.3%
“Credit unions have a place in small business lending, but they have lost ground to banks both large and small and institutional
lenders, who are have become aggressive in the small business lending marketplace. Banks and institutional lenders are reaping
the benefits of incorporating financial technology (FinTech) into their operations. Credit unions lagged behind in technological
upgrades, and it has hurt them over the past few years.”
- Biz2Credit CEO Rohit Arora
“
DECEMBER’17NOVEMBER’17DECEMBER’16 DECEMBER ’17
yearly comparison
56.7%
58.60%
MONTHLY comparison
56.7%
56.9%
NOVEMBER’17DECEMBER’16 DECEMBER’17
“With many traditional lenders willing to fund small businesses, alternative lenders are getting requests from lower quality
borrowers, The solid economy makes consumers willing to spend and results in business optimism – especially for companies
looking to expand.”
- Biz2Credit CEO Rohit Arora
“
DECEMBER’17
yearly comparison
49.0%
48.90%
Loan Approvals at Small banks
small business loan approval rates climbed at larger institutions, such as banks and institutional lenders. Small banks
approved 49% of the funding requests they received in December, the same percentage as in the month prior. For
more than three years, regional and community banks have hovered at or around 49 percent, having last crossed over
the half-way point in October 2014, when approvals were at 50.2 percent.
MONTHLY comparison
49.0%49.0%
“SBA lending was strong throughout 2017, and small banks are among the most active lending partners, one of the country’s
leading experts in small business finance. “This bodes well as we enter a new year. It is helpful for young entrepreneurs, who
might not have credit scores high enough for a traditional bank loan, that SBA-backed loans are available through big banks
and smaller ones.”
- Biz2Credit CEO Rohit Arora
“
DECEMBER’16 DECEMBER’17 NOVEMBER’17 DECEMBER’17
64.1%
64.3%64.3%
63.40%
“Businesses are anticipating that the tax form bill could help them, which gives potential borrowers more confidence to take
risks. Meanwhile, lenders are closing deals and interest rates continue to trend upwards, which makes lending more profitable
for them.”
- Biz2Credit CEO Rohit Arora
“
yearly comparison MONTHLY comparison
DECEMBER’16 DECEMBER’17 NOVEMBER’17 DECEMBER’17
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.