Tagged: biz2credit

June 6, 2023 @ 11:12 am By JD Alois  |  

Approvals by big banks for small business loans continue to decline. According to Biz2Credit’s periodic survey of SME lending, loan approval percentages at big banks dipped from 13.5% in April to 13.4% in May. At the same time, approval ratings at small banks remained at… Read More

May 24, 2023 @ 3:02 pm By Omar Faridi  |  

With the U.S. Small Business Administration (SBA) actively seeking new ways to help small business owners secure financing during the current credit crunch, Biz2Credit and CPA.com have introduced a new SBA 7(a) lending option “to the CPA Business Funding Portal, a cloud-based platform that supports… Read More

May 9, 2023 @ 10:55 pm By JD Alois  |  

Business loan approval for small businesses tanked in April, according to a report. The driver is higher interest rates and banks tightening up their books in the volatile market. According to Biz2Credit Small Business Lending Index, loan approval dropped from 13.8% in March to 13.5%… Read More

April 25, 2023 @ 4:19 pm By JD Alois  |  

Biz2Credit and affiliate Biz2X have been recognized by the Financial Times as one of America’s fastest-growing companies, according to a note from the fimr. Biz2Credit and Biz2X were ranked 69th on the fourth annual FT Americas’ Fastest-Growing Companies list of 500 firms that had the… Read More

March 22, 2023 @ 4:19 pm By JD Alois  |  

As widely predicted by market followers, the US Federal Reserve increased benchmark rates by 25 basis points. Not too long ago, prognosticators were vacillating on whether the March meeting would increase rates by 50 bps or 25 bps. The recent bank crises caused the financial… Read More

February 7, 2023 @ 10:52 am By JD Alois  |  

Business loan approval rates have increased – depending on who you are asking. According to a report, alternative lenders, institutional investors and small banks have increased credit but big banks and credit unions have pulled back This is according to online lender Biz2Credit and its… Read More

January 18, 2023 @ 11:30 am By Omar Faridi  |  

Biz2Credit, an online funding provider to small businesses, announced the findings of its Small Business Inflation Study that “analyzed the revenues and expenditures of more than 140,000 U.S. small businesses from January 2019 to October 2022.” The Biz2Credit Small Business Inflation Study identified three distinct… Read More

January 12, 2023 @ 8:24 am By Omar Faridi  |  

Small business loan approval percentages at big banks “slipped again, falling from 14.6% in November to 14.5% in December, which tied with January for the lowest monthly approval rate for big banks in 2022,” according to the latest Biz2Credit Small Business Lending Index™ released on… Read More

November 11, 2022 @ 4:10 pm By JD Alois  |  

Biz2Credit says loan approvals for small businesses declined in October. The Biz2Credit Small Business Lending Index reports that approval percentages from big banks declined from 14.9% in September to 14.7% in October. This is said to be the lowest percentage since February of this year…. Read More

October 24, 2022 @ 4:06 pm By JD Alois  |  

Biz2X, an offshoot of Biz2Credit – an online small business lender, has announced its new Ascend Edition which aims to provide a better tech stack for banks and other financial services firms that offer online lending. In a release distributed during Money20/20, Biz2X said the… Read More

May 11, 2022 @ 3:39 pm By Omar Faridi  |  

Small business loan approval percentages at big banks ($10m + in assets) “rose from 14.9% in March to 15.1% in April, and small banks’ approvals also increased from 20.6% in March to 20.8% this past month.” This, according to the latest Biz2Credit Small Business Lending… Read More

April 12, 2022 @ 9:36 am By JD Alois  |  

Biz2Credit’s Small Business Lending Index for March indicates that loan approval rates rose during the month at banks as well as some non-bank lenders. Loan approvals at larger banks ($10m + in assets) reportedly rose from 14.7% in February to 14.9% in March, and small… Read More

October 12, 2021 @ 12:47 pm By Tony Zerucha  |  

Loan approval rates at many banks inched upward in September, data from Biz2Credit’s monthly Small Business Lending Index shows. Biz2Credit analyzed loan requests from companies that have been in business for more than two years and who have credit scores greater than 680. The results… Read More

October 7, 2021 @ 2:25 pm By Tony Zerucha  |  

Latino-owned businesses have shown signs of strength in the current economy, but they have also suffered, findings from the annual Biz2Credit Latino-Owned Business Study show. At $258,251, the average annual revenue for Latino-owned businesses in 2020-21 was $82,535 lower than their revenues the previous year… Read More

August 10, 2021 @ 4:47 pm By Tony Zerucha  |  

Small business loan approval rates grew slightly between June and July, leaving them at the same percentage as they were this time in 2020, data from Biz2Credit’s Small Business Lending Index shows. Small bank approval rates also improved from 18.9 percent to 19.1 percent over… Read More

June 8, 2021 @ 5:26 pm By Tony Zerucha  |  

Loan approval percentages at both big and small banks inched up in May, with smaller banks remaining more generous. That data comes from Biz2Credit’s Small Business Lending Index, which was released earlier today. It showed those banks with at least $10 billion in assets approved… Read More

May 11, 2021 @ 11:53 am By Samantha Hurst  |  

  Biz2Credit announced on Tuesday its latest Small Business Lending Index reported small business loan approval percentages at big banks ($10 billion+ in assets) dipped slightly to 13.4% in April from 13.5% in March 2021. The Index also revealed that small banks’ approvals have dropped to… Read More

February 26, 2021 @ 9:30 pm By Samantha Hurst  |  

  Biz2Credit announced earlier this week it supports Biden-Harris Administration’s changes to the Paycheck Protection Program (PPP). The company claims that the changes will promote more equitable access to funding for small businesses in need of funding during the COVID-19 pandemic. Biz2Credit further revealed it has… Read More

January 12, 2021 @ 2:59 pm By Samantha Hurst  |  

  Biz2Credit announced on Tuesday its latest Small Business Lending Index reported small business loan approval percentages at big banks ($10 billion+ in assets) dropped slightly from 13.2% in November to 13.1% in December, an indication that the challenges for small business owners in need of… Read More

December 29, 2020 @ 9:27 am By Samantha Hurst  |  

Biz2Credit announced on Tuesday it has opened applications for anew round of Paycheck Protection Program (PPP) loans.  The PPP is part of the $2 trillion CARES Act signed on March 27, 2020, aimed at getting small business owners back on their feet and millions of Americans… Read More