Tag Archives: business owners

Biz2Credit Small Business Lending Index™ Reveals Loan Approval Rates Continue to Rise in February

Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. NEW YORK, March 15, 2022 (GLOBE NEWSWIRE) — Small Business Loan Approval Percentages at big banks ($10+ in assets) went from 14.5% in January to 14.7% in January, and small banks‘ Approvals also increased, from 20.3% […]

Avoid These Mistakes on Your Business Loan Application and Increase Your Chances of Approval

Access to affordable capital is essential to running a small business. Still, the business loan application process can be daunting — and approval isn’t a sure thing, even if you have good credentials. According to the Federal Reserve’s 2021 Small Business Credit Survey, 12% of businesses that needed financing but chose not to apply did […]

3 business loan application mistakes and how to avoid them

AAccess to affordable capital is essential to running a small business. Still, the business loan application process can be daunting — and approval isn’t a sure thing, even if you have good credentials. According to the Federal Reserve’s 2021 Small Business Credit Survey, 12% of businesses that needed financing but chose not to apply did […]

My engineering business loan application was rejected

My engineering business loan application was rejected Rejecting a business loan application can feel like the end of the world for many construction and engineering business owners, especially when you were relying on that loan to cover a significant cost of your business. If you are unlucky enough to experience this type of rejection, it […]

Extended SBA Loan Application Deadline

BOWLING GREEN, Ky. (WBKO) — The deadline to apply for FEMA or a U.S. Small Business Administration loan has been extended to March 14, 2022. Tornado survivors can apply for federal assistance in person at the FEMA Disaster Recovery Center where you can file your SBA application or go ask an SBA representative questions. If […]

Average Small Business Loan Size

Owning a business can be expensive and unexpected expenses tend to arise. For small business owners who need additional funds, small business loans could be a great option. There are many factors to consider when choosing a small business lender, such as eligibility requirements, loan amount options, and repayment terms. Small business owners can also […]

Why small business loan approval rates are climbing at a snail’s pace

Although the approval percentages of banks and non-bank lenders (institutional lenders, alternative lenders and others) have risen steadily over the past 12 months, the rebound in small business lending is far from robust. Bank vault. (Photo by Dick Whittington Studio/Corbis via Getty Images) Corbis via Getty Images According to the latest Biz2Credit Small Business Loan […]

Biz2Credit Small Business Lending Index ™ for December finds loan approval rates continue to rise, but at a slow pace

Approval percentages at large banks, small banks, institutional lenders, alternative lenders and credit unions are still about half of what they were in December 2019 NEW YORK, January 11, 2022 (GLOBE NEWSWIRE) – Small business loan approval percentages in big banks ($ 10 + in assets) fell from 14.2% in November to 14.3% in December, […]

Nicholas Co. disaster relief loan application deadline is approaching

NICHOLAS COUNTY, Ky. (WKYT) – Eligible residents and business owners in Nicholas County have been able to apply for low-interest loans to help repair property and reopen businesses that have been damaged by flooding historical records, but the filing deadline for returning physical property damage claims is approaching. January 3, 2022, is the last day […]

Why was my business loan application rejected? – Rochester Minnesota news, weather, sports

For business owners, it’s a terrifying situation: You were going to get that business loan, but the bank turned it down. Over the past few months, several small business CEOs have faced the problem of not having their business loan application approved and have asked for help. Sharita Humphrey is an award-winning finance expert and […]

New legislation would simplify the EIDL loan application process for small businesses

The EIDL rationalization law is a bipartisan bill introduced to the US Senate to improve the Economic Disaster Loan (EIDL) application process as well as to combat fraud in the program. The goal is to simplify the process so that small businesses can get their requests answered quickly and efficiently. New legislation would simplify the […]

Biz2Credit Small Business Lending Index ™ for November Finds Loan Approval Rates Continue to Rise at Banks and Non-Bank Lenders

The approval percentages of large banks, small banks, institutional lenders and alternative lenders are increasing; Credit unions stagnate in November NEW YORK, December 8, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (assets over $ 10 billion) fell from 14.1% in October to 14.2% in November. During this time, small banks” […]

Biz2Credit Small Business Lending Index ™ for October Finds Loan Approval Rates Rise at Banks and Non-Bank Lenders for Sixth Month in a Row

Enter Wall Street with StreetInsider Premium. Claim your 1-week free trial here. NEW YORK, November 09, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (assets over $ 10 billion) fell from 14% in September 2021 to 14.1% in October. During this time, small banks” approvals also fell from 19.5% in September […]

Rising small business loan approval rates at all financial institutions

Small business loan approval rates at large banks fell from 13.9% in August 2021 to 14% in September. Small bank approvals also fell from 19.3% in August to 19.5% in September. The data comes from the latest Biz2Credit Small Business Lending Index. Biz2Credit Small Business Loan Index – September 2021 The raise of loan approval […]

Small business loan approval rates rise among bank and non-bank lenders in September

Small business loan approval percentages at large banks (or those with $ 10 billion or more in assets) fell from 13.9% in August to 14% in September. At the same time, approval rates for small banks rose to 19.5% in September, from 19.3% the month before, according to the latest Biz2Credit Small Business Loan Index. […]

Biz2Credit Small Business Lending Index ™ for September sees loan approval rates increase at banks and non-bank lenders for fifth consecutive month

News and research before you hear about it on CNBC et al. Claim your 1-week free trial for StreetInsider Premium here. NEW YORK, October 12, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (assets over $ 10 billion) fell from 13.9% in August 2021 to 14% in September. During this time, […]

It was almost impossible for my children to see me in prison. Then COVID-19 struck.

As businesses began to reopen, we have been subjected to more and more torturers from business owners, especially restaurants and similar service-based workplaces, who insist that ‘they are facing a labor shortage. The argument, some argue, is that unemployment benefits are too generous and discourage work, leaving employers unable to hire workers. Fortunately, these stories […]

Biz2Credit: Loan Approval Rates Rise at Banks and Non-Bank Lenders in August

Small business loan approval percentages in large banks (over $ 10 billion in assets) fell from 13.8% in July 2021 to 13.9% in August, up three tenths of a percentage from a year ago. Meanwhile, approvals of small banks also fell from 19.1% in July to 19.3% in August, according to the latest Biz2Credit Index […]

Biz2Credit Small Business Lending Index ™ for August Finds Loan Approval Rates Rising at Banks and Non-Bank Lenders

NEW YORK, September 14, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (over $ 10 billion in assets) fell from 13.8% in July 2021 to 13.9% in August, up three tenths of a percentage from a year ago. During this time, small banks” approvals also fell from 19.1% in July to […]

Trade Ledger Boosts Business Loan Approval Speeds, Delivering 90% Reduction in “Response Time” in ScotPac Asset Finance Pilot

Real-time platform offers fast approval time, reducing decision times from days to hours All-digital experience transforms SME financing for businesses and their advisors 300% growth in asset financing business volume achieved since implementation Loan-as-a-Service platform helps ScotPac Company position itself as one of the few Australian companies and New Zealand corporate financiers able to quickly […]

Small Business Loan Approval Rates Rise at Big Banks

From June to July 2021, small business loan approvals at large banks fell from 13.6% to 13.8%. The data comes from the latest Biz2Credit Small Business Lending Index. The index also signals an increase in loan approvals from institutional and alternative lenders in July. Biz2Credit Index of Small Business Loans – July 2021 The increase […]

Biz2Credit: Small Business Loan Approval Rates Rise at Banks in July

According to Biz2CreditAccording to the latest Small Business Lending Index, small business loan approval percentages at large banks (over $ 10 billion in assets) fell from 13.6% in June to 13.8% in July, reaching the same percentage as last July. At the same time, approval rates for small banks also increased, from 18.9% in June […]

Biz2Credit Small Business Lending Index ™ Finds Loan Approval Rates Rise at Banks, Institutional and Alternative Lenders in July 2021

Receive instant alerts for news on your actions. Claim your 1-week free trial for StreetInsider Premium here. NEW YORK, August 10, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (over $ 10 billion in assets) fell from 13.6% in June 2021 to 13.8% in July, the same percentage as a year […]

Consider these tips before clicking Submit

You have bold plans and you want the bank to lend you money to help you realize your business idea. Obviously, going to the bank with a solid business plan is important, but what does it actually look like? And what other factors matter in getting you approved or rejected for a business loan? Bendigo […]

PPP Closures and Rising Approval Rates for Small Business Loans

The Paycheck Protection Program (PPP) provided many small businesses with much-needed funds during the pandemic, but the program has now ended. And it’s going to force business owners to go back to the funding sources they used before PPP. In this week’s roundup, the Biz2Credit Small Business Lending Index for May found that approval rates […]

Small Business Loan Approval Rates Rise As P3 Ends

The end of the Paycheck Protection Program (PPP) has arrived, and that means companies will seek funding from traditional sources. According to Biz2Credit Index of Small Business Loans for the month of May, loan approval rates increased for banks and non-bank lenders. Small Business Loan Index – May 2021 While the higher approval rates aren’t […]

Biz2Credit: Small Business Loan Approval Rates May Increase When PPP Ends

Small business loan approval percentages at large banks (or those with more than $ 10 billion in assets) edged up from 13.4% in April to 13.5% in May, according to the latest Biz2Credit Index of Small Business Loans. In addition, approvals at smaller banks jumped from 18.2% in April to 18.7% in May. “Loan approvals […]

Biz2Credit: Approval Rates for Non-PPP Loans Remain Relatively Unchanged in April

Small business loan approval percentages at large banks (or those with more than $ 10 billion in assets) edged down to 13.4% in April from 13.5% in March 2021, according to the latest. Biz2Credit Index of Small Business Loans. Likewise, approvals at smaller banks fell to 18.2% in April, from 18.3% in March. “Traditional small […]

Five key financial measures for approving agricultural loans | The latest in agribusiness

As a young farmer or beginning farmer, you will find that there are many ways to prepare for the financial aspects of owning a farm. Working with a farm lender like Farm Credit early on is my first recommendation to make sure your business is understood and the cyclical nature of the industry is taken […]

Opinion: Small Business Administration’s relaxed loan terms offer a silver lining for small businesses

The dominant narrative around US small businesses throughout the pandemic has been pessimistic rhetoric. But there is another side to the history of small business that is emerging. A story of determination, perseverance and new opportunities. Many companies have shown incredible creativity and ingenuity to take advantage of the opportunities arising from the pandemic and […]

PPP loan application period for companies with less than 20 employees opening

WASHINGTON (BRAIN) – The Small Business Administration will offer businesses and nonprofits with fewer than 20 employees an exclusive 14-day Paycheck Protection Program loan application period. Also committed to racial and gender equity, the administration attempts to reach low and moderate income, rural, urban and other underserved areas by: Allow sole proprietors, independent contractors and […]

Nav launches PPP loan application portal for SMEs

SALT LAKE CITY, January 11, 2021 / PRNewswire / – Navigation, the smart and simple financing platform for small businesses, today launched its PPP application portal to help small businesses apply quickly for the new Paycheck Protection Program (P3) Loan Round. The Nav PPP portal simplifies and streamlines the PPP loan submission process and guides […]

Business loan approval rates drop 50% in past year

Small business loan approvals at big banks are down 50% from last year’s figures, according to data from Biz2Credit Index of Small Business Loans. Loan approvals from large banks with more than $ 10 billion in assets were 13.2% in November this year, compared to 28.1% for the same period. Big bank loan approvals fell […]

Small business loan approval rates at banks fell again in

NEW YORK, October 06, 2020 (GLOBE NEWSWIRE) – Small business loan approval percentages at big banks ($ 10 billion and more in assets) fell slightly from 13.6% in August to 13.5% in September, indicative of the difficulties facing small businesses, according to the latest Biz2Credit Index of Small Business Loansâ„¢ released today. the Biz2Credit Index […]

Small business loan approval rates at banks fell in August

Slight declines in approval percentages at alternative lenders and credit unions NEW YORK, Sept. 08, 2020 (GLOBE NEWSWIRE) — Small business loan approval percentages at large banks (over $10 billion in assets) and small banks fell slightly in August 2020, this which indicates that the upward trend that began in May has stabilized, according to […]

Small business loan approval rate continues to rebound

the Biz2 Credit The Small Business Loans Index for June 2020 shows that small business loan approval rates continue to rebound. Biz2Credit Index of Small Business Loans June 2020 Small business loan applications rebounded from 11.5% in May to 13.5% in June, according to the index. The figures for June are significantly lower than those […]

Small business loan approval rates rebounded in June 2020:

NEW YORK, July 14, 2020 (GLOBE NEWSWIRE) – The percentage of approval for small business loan applications in big banks (over $ 10 billion in assets) rebounded just 11.5% in May to 13.5% in June, according to the Biz2Credit â„¢ Small Business Loan Index released today. June’s figure is still well below the record rate […]

Castle Rock DJ pays $1,000 for free disaster loan application

Editor’s note: Contact7 is looking for advice and public input to help those in need, solve problems and hold the powerful accountable. If you know of a community need that our call center could address, or have an idea for a story for our team of investigators to pursue, please email us at [email protected] or […]

Small business loan approval rates drop to record lows in April

Small businesses are struggling to get the non-government money they need from banks to stay open, according to a new index. This at a time when they need it most. Specifically, the approval rate for small business loans fell to 8.9% in April from a record high (28.3%) in February. This is the lowest approval […]

Small business loan approval rates have fallen to record lows

NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) — The approval percentage for small business loan applications to big banks (over $10 billion in assets) fell below double digits to just 8.9%down from 15.4% in March and an all-time high of 28.3% in February 2020, according to the Biz2Credit™ Small Business Loan Index published today. The […]

Small business loan approval rates fell in March 2020

All categories of small business lenders take a nosedive as coronavirus wreaks havoc on economy Until the coronavirus pandemic hit the United States, small businesses were thriving and creating jobs, unemployment was at a 50-year low, consumer confidence was high, and in general the U.S. economy was sluggish. as strong as it has ever been […]

How to Submit Your PPP SBA Loan Application and Calculate the Loan Amount

Opinions expressed by Contractor the contributors are theirs. Many small business owners complete their Paycheck Protection Program (PPP) loan applications and run into common questions and hurdles. The immediate question currently revolves around two issues: First, how do I work with my bank or find a bank to submit it to? And secondly, how to […]

On day one, the small business loan application process is plagued with problems

Officials across the U.S. banking industry rushed overnight to roll out a massive new government-backed lending program to help small businesses ravaged by the coronavirus pandemic and many have not been able to make it happen before Friday’s deadline given that the Treasury Department released its lending guidelines late Thursday night. The $350 billion federal […]

Small business loan approval rates vary widely by industry

In a review of 30,000 small business loan applications sorted by industry over the past year, Biz2Credit surprisingly found that food service and accommodation businesses had the highest loan approval rates highest (51%) in 2018 compared to retail, healthcare, and professional and personal services. According to the study, food and lodging businesses, including hotels, caterers […]

Finova Capital will pay a loan worth Rs 100 cr to MSMEs in 2017

Finova Capital will pay a loan worth Rs 100 cr to MSMEs in 2017 New Delhi, March 15 (KNN) After disbursing a loan amount of Rs. 20 crore to over 220 MSMEs in 2016, Finova Capital has set itself the goal of disbursing loans worth Rs. 100 crore in 2017 to the Indian MSME sector. […]