Biz2Credit Small Business Lending Index Shares Record Low Loan Approval Rates

Approval percentages for small business loan applications at banks with $10+ billion in assets fell to 8.9%, down from 15.4% in March; Approvals were at all time highs in February 2020 (28.3%) according to the Biz2Credit Small Business Lending Index; the rates do not include businesses approved for PPP loans; Approvals at small banks also fell to 11.8% in April from 38.9% in March and just over 50% in February; the press release provides further commentary on the small business lending landscape. GlobeNewsWire

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