Small banks are approving more small business loans than they reject for the first time since 2008 says the recent Biz2Credit Small Business Lending Index.
Approvals under the SBA Advantage loan program deserve the credit says Biz2Credit’s Rohit Arora,
Also, alternative lenders (merchant cash advance, micro lending) continue to increase their share of the small business lending market.
“In September, alternative lenders approval rates rose slightly to 64.7%, up from 64.6% in September. The figure for alternative lenders was the highest recorded since the Biz2Credit Small Business Lending Index began.”