California small business loans were more accessible in Q3 2015, according to the Pepperdine Private Capital Access Index from Pepperdine Graziadio School of Business and Dun & Bradstreet. These businesses not only received more loans than in Q2 2015, but also received more loans than the national average (for businesses surveyed):
- 50% of businesses applied for a California small business loan and of those, 46% were successful (up 10% from Q2)
- Compared to the national success rate (37%), California small businesses surveyed were 9% more successful at securing a loan
Despite receiving more small business loans than in Q2, the California small businesses surveyed still relied on personal assets and are also still feeling restricted by a lack of financing:
- 32% of California small businesses relied on personal assets in Q3 2015
- California small businesses feel like their ability to hire and grow is restricted more than the national average, by 2% and 3% respectively
View more Q3 2015 PCA Index findings for California below.
See more PCA Index findings in these infographics: