{"id":10135,"date":"2016-12-15T18:30:45","date_gmt":"2016-12-15T18:30:45","guid":{"rendered":"https:\/\/smallbiztrends.com\/?p=425003"},"modified":"2016-12-15T18:30:45","modified_gmt":"2016-12-15T18:30:45","slug":"small-business-lending-from-big-banks-and-institutional-lenders-surges-biz2credit-reports","status":"publish","type":"post","link":"https:\/\/businessnewsbox.com\/?p=10135","title":{"rendered":"Small Business Lending from Big Banks and Institutional Lenders Surges, Biz2Credit Reports"},"content":{"rendered":"

\"Small<\/p>\n

Big banks and institutional lenders continue giving small businesses a reason to smile.<\/p>\n

According to the newly released<\/a> Biz2Credit Small Business Lending Index report for November 2016, loan approval rates at both big banks and institutional lenders continued to rise, improving to new highs.<\/p>\n

What\u2019s more, small banks also showed an increase in small business loan approval rates.<\/p>\n

The only drop in approval rates came from alternative lenders and credit unions.<\/p>\n

Biz2Credit Lending Index November 2016<\/h3>\n

The report reveals loan approval rates at big banks improved to 23.7 percent, up two-tenths of a percent from October. Notably, it marked the eighth time in the last nine months that lending approval rates went up at the big banks.<\/p>\n

Small banks reported an improvement of 48.8 percent, up one-tenth of a percent from October<\/a>.<\/p>\n

\u201cBanks have invested in technology the last year is paying its dividends. Advances in analytics enable them to approve a higher percentage of loans while lowering loan default rates,\u201d said Rohit Arora, CEO and co-founder of Biz2Credit, who oversaw the research.<\/p>\n

Meanwhile, loan approval rates at institutional lenders also continued to improve. In November, it climbed to a new index high of 63.3 percent.<\/p>\n

\u201cInstitutional lenders have been a big story in marketplace lending in 2016. They are here to stay,\u201d Arora remarked.<\/p>\n

New Presidency May Work in Favor of Small Businesses<\/h3>\n

Arora said Donald Trump\u2019s victory will have a positive impact on the lending markets.<\/p>\n

Significantly, the President-elect has pledged to repeal Dodd-Frank, which brought a number of regulations to the banking sector since it was signed into law.<\/p>\n

Biz2Credit is an online lending platform that connects business borrowers and lenders. Their monthly lending Index is a representation of more than 1,000 small business loan applications on their platform.<\/p>\n

Image: Biz2Credit.com<\/small><\/em><\/p>\n

This article, “Small Business Lending from Big Banks and Institutional Lenders Surges, Biz2Credit Reports<\/a>” was first published on Small Business Trends<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

\"\"\/<\/p>\n","protected":false},"excerpt":{"rendered":"

Small businesses still find higher loan approval rates from big banks and institutional lenders notes the Biz2Credit Lending Index November 2016 report.<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51,50],"tags":[],"class_list":["post-10135","post","type-post","status-publish","format-standard","hentry","category-biz2credit","category-small-business-loans"],"_links":{"self":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/posts\/10135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10135"}],"version-history":[{"count":0,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=\/wp\/v2\/posts\/10135\/revisions"}],"wp:attachment":[{"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessnewsbox.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}