by Ray Hayes
With small business optimism at an all time high, banks (both big and small) are approving small business loans at record levels. According to the Biz2Credit Small Business Lending Index, “Banks with assets of at least $10 billion approved nearly 3 in 10 small-business loan applications in May, up two-tenths of a percent from April, which marks a post-recession high.” Small banks share similar statistics and there approval marks are nearing more than 50 percent. “Small business lending is becoming a very important asset class for institutional lenders, who are able to offer funding at reasonable interest rates and terms lengths.”
With a strong US economy and banks supporting small business contribution to the nation’s growth expect the Small Business Optimism Index to continue its surge.