According to the MetLife and U.S. Chamber of Commerce small business index, two thirds of small businesses requesting capital, receive the full amount. This is one of the highest marks within the index and continues a trend of surveys’ backing the existence of a strong economy. ” Of those who applied for credit, only 11 percent received a partial amount and 15 percent were rejected.”
About one in five small businesses applied for financing according to survey participants. Other notes from the survey include:
- Eight out of 10 small-business owners said they are feeling comfortable with their cash flow.
- 71% of businesses in good health reported that securing a loan was not a big issue. he picture is vastly different, however, for companies that are not in good health
- Fifty-five percent of small businesses were optimistic about the health of the U.S. economy in the third quarter, tying the highest rating in the history of the survey
- In the third quarter, the number of small businesses reporting their local economy as good increased to 51 percent, the highest mark in the history of the index.
In addition to the positive news from the MetLife and U.S. Chamber of Commerce small business index, Biz2Credit small-business lending index reached a new high in July for small business loan approval rates.