SMEs prefer alternative lenders to large banks for loans, study shows

Small business loan approval percentages at big banks dropped from 14.7% in October to 14.6% in November, the second lowest total in 2022, according to the latest Biz2Credit Small Business Lending Index. Approval percentages of business loan applications at small banks declined from 21.2% in October to 21.1% in November. Similarly, credit unions granted 20.3% of loan requests in November, a decrease from October’s figure of 20.4%. Among other […]