Biz2Credit Small Business Lending Index for February 2012 Reports Loan Approval Rates Increase Slightly for Small Banks, Credit Unions and Alternative Lenders; Big Bank Lending Is Stagnant
The Biz2Credit Small Business Lending Index, an analysis of 1,000 loan applications on Biz2credit.com, found that approval rates of small business financing requests in February 2012 by small banks and alternative lenders were up 0.1%, while credit unions increased 0.2%.
Firm: CUs Getting aggressive With Business Lending
As banks and other competitors make their way back into the business lending marketplace, credit unions appear to be holding their own with an increase in loan approval rates.