August 10, 2020
By Bob Coleman
Editor, Main Street Monday
75% of SBA Loan Borrowers Have Negative Outlook For Rebounded Confidence
In today’s Coleman Report Live!, SBA lenders responded dismally to a poll question on the confidence of their borrowers. An overwhelming majority (75%) of respondents reported their borrowers have little confidence in an upcoming rebound for Main Street.
Check out the stats from a recent poll on the third quarter
Main Street confidence rose in the third quarter, according to the CNBC|SurveyMonkey Q3 Small Business Survey, but the business sentiment was still the second-worst in the survey’s history.
Government assistance like the Paycheck Protection Program provided a lifeline to struggling businesses in the third quarter, though many still failed and remain at risk.
Just 36% of businesses say that current operating conditions are “good,” but that doubled from Q2 when Covid-19 lockdowns were widespread.
President Trump’s executive orders signed over the weekend, which include unemployment assistance, a payroll tax hiatus, student loan relief and eviction protection, do not cover small business.
Source CNBC: Small business confidence rebounds from all-time low