Big Banks Tighten Lending to Small Businesses Amid Regulatory Pressure
Small business loan approvals drop at big banks According to the latest Biz2Credit Small Business Lending Index™, the approval rates of small business loan requests at big banks ($10 billion+ in assets) fell from 13.3% in July to 13.2% in August. This is a nearly two percent drop from August 2022, when the approvals were at 15.1%. The index tracks monthly loan approval percentages for small businesses from over 1,000…