Biz2Credit: https://www.biz2credit.com/ Related Resource: https://www.biz2credit.com/small-business-lending-index/september-2017 According to the month of September 2017, Big banks approved 24.8% of small business loan, slightly up from 24.6% compared to August 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. 24.8%
23.40%
yearly comparison MONTHLY comparison
24.8%24.6%
AUGUST’17 SEPTEMBER’17
Bank and Institutional Lender Loan Approval Rates
Climbed in September 2017
Study reveals increases in approval percentages for big banks, small banks and institutional lenders;
alternative lenders and credit unions stall
september 2017BIZ2CREDIT Small Business Lending Index
Business loan approval rates at big banks ($10 billion-plus in assets) hit another post-recession high in September 2017,
according to the latest Biz2Credit Small Business Lending Index™, a monthly analysis of more than 1,000 small business
loan applications on Biz2Credit.com. Loan approval percentages of institutional investors also set a new record high.
TM
Loan Approvals at Institutional Lenders
loan approval rates improved by one-tenth of a percent in September to 63.9%, a new high for the category in the
Biz2Credit Small Business Lending Index.
Loan Approvals at Big banks
Small business loan approval rates at big banks improved two-tenths of a percent to 24.8% in September, up from 24.6%
in August and setting another new high for the Biz2Credit Index.
Credit union approvals
Loan approval rates at credit unions remained stagnant at 40.3%, which remains the low mark for this category of funders
on Biz2Credit’s index.
Small business loan approvals by Alternative lenders
Loan approval rates among alternative lenders continue to drop; approval rates dipped one-tenth of a percent in
September to to 57.0%. Approval percentages for alternative lenders have been on a slow, continuous monthly decline for
more than a year.
“If you are seeking small business loans, you have a better chance now at securing funding than at any other time since the
Great Recession”
- Biz2Credit CEO Rohit Arora
“
SEPTEMBER’16 SEPTEMBER’17
yearly comparison
40.3%
41.30%
MONTHLY comparison
40.3%40.3%
“Credit unions still lag behind other types of lenders in their technological upgrades, and they are still handcuffed by the credit
union member business-lending (MBL) cap, unfortunately, It’s an ongoing issue for them.”
- Biz2Credit CEO Rohit Arora
“
SEPTEMBER’17AUGUST’17SEPTEMBER’16 SEPTEMBER ’17
yearly comparison
57.0%
59.70%
MONTHLY comparison
57.0%
57.1%
AUGUST’17SEPTEMBER’16 SEPTEMBER’17
“Alternative lenders still play a valuable role in small business finance because they provide funding to businesses with poor
credit scores or no credit history at all, They make quick decisions and accept higherlevels of risk. However, they charge higher
rates than other types of lenders.”
- Biz2Credit CEO Rohit Arora
“
SEPTEMBER’17
yearly comparison
49.1%
48.70%
Loan Approvals at Small banks
Loan approval percentages at small banks also rose one-tenth of a percent last month to 49.1%, a slight uptick from August’s
49.0% figure.
MONTHLY comparison
49.1%
49.0%
“Big banks are approving nearly a quarter of the applications they receive from small businesses. Small banks are doing a lot of
SBA loans, and institutional lenders are on the rise. The small business credit market is robust at the moment for anyone who
has a decent credit history.”
- Biz2Credit CEO Rohit Arora
“
SEPTEMBER’16 SEPTEMBER’17 AUGUST’17 SEPTEMBER’17
63.9% 63.9%63.9%
63.00%
“Now that President Trump’s tax proposal has been unveiled, business owners are hoping that the cuts will further stimulate
economic growth, one of the country’s leading experts in small business finance. The stock markets are strong, jobs are being
created, and oil prices have dropped further. All of these factors instill confidence in business owners who are contemplating
start-up or expansion financing.”
- Biz2Credit CEO Rohit Arora
“
yearly comparison MONTHLY comparison
SEPTEMBER’16 SEPTEMBER’17 AUGUST’17 SEPTEMBER’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.