Small business loan approval rates on the rise

A decade after the market crash, small business lending has made a turn-around, which can be attributed, in part, to the strong economic growth in the U.S. Business loan approval rates are on the uptick, according to Forbes: “These smaller banks granted 49.8 percent of the funding requests they received in August, up one-tenth from […]

A decade after the market crash, small business lending has made a turn-around, which can be attributed, in part, to the strong economic growth in the U.S. Business loan approval rates are on the uptick, according to Forbes: “These smaller banks granted 49.8 percent of the funding requests they received in August, up one-tenth from July. It represents the highest figure for small banks since November 2014. Many of them are processing SBA loans. With a robust economy and government guarantees that mitigate lender risk.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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