Many business owners and consumers are turning a cold shoulder to traditional banks and adopting alternative solutions, largely due to a lack of transparency and flexibility.
If you think now is a good time for your business to shine, you're not alone. Check out this 2016 Economic Forecast from Dun & Bradstreet that reveals how small businesses anticipate positive growth.
Almost half of the California small businesses surveyed in the PCA Index that applied for a loan in Q3 2015 were successful. The businesses surveyed were more successful at getting a bank loan than other businesses surveyed nationwide and more successful than in Q2 2015.
Despite high levels of optimism, New York small business loans didn't meet business owners' demands, and were awarded far below the national average. See the New York Q3 2015 Pepperdine Private Capital Access findings to learn more.
The State of Small Business Loans Nationwide Remains Elusive, Despite Increased Optimism from Business Owners, According to the Q3 2015 PCA Index
Q3 2015 Pepperdine Private Capital Access Index results show that while business owners are increasingly optimistic about growth, bank loans are still awarded well below demand.
Many think that more protections for business loan borrowers are needed, but will lenders be willing to pledge compliance?
Hundreds of small business loans were left pending after the SBA reached their lending authority earlier in July, but Congress has now increased the SBA's authority through the end of the fiscal year in order to help fulfill these loans.