Florida Q1 2015 PCA Index Findings Infographic
Once a quarter, Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet poll small and medium-sized businesses across the nation to learn more about those companies growth and access to capital.
Florida Small Businesses Are Struggling to Get Bank Loans
- Florida small business loans are awarded below the national rate, despite the state having higher rates of planned growth. Only 33 percent of businesses who applied in Q1 2015 were awarded a Florida small business loan, compared to 41 percent nationally.
- Loans for Florida small businesses are in short supply, and it’s causing many small businesses to feel restricted: 54 percent of those surveyed feel their growth opportunities are restricted and 46 percent feel their ability to hire is restricted as well.
- Florida small businesses are using personal assets at a rate higher than the national average: 40 percent of small businesses in Florida used personal assets to fund business growth, compared to the national average of 35 percent.