How Big is the Small Business Lending Market?
February 26, 2014
By Bob Coleman
Editor, Coleman Report
$1 trillion says SBA’s Office of Advocacy. This just released two page report is a nice overview of the current state of small business lending.
Here are some stats for 2013;
- Small Business Borrowing from Banks – $585 billion
- Small Business Borrowing from Finance Companies – $422 billion
- Average Startup Capital – $10,000 to $80,000
- Credit Cards as Source of Startup Capital – 7%
- Why borrow money?
- Start a Business
- Purchase Inventory
- Expand the Business
- Strengthen the Business
- Loan Underwriting Standards – Easing
- Loan Demand – Rising