The type of lender with the highest approval rates of loans to SMEs in September 2023 were alternative lenders, which accepted nearly 30 percent of applications in the United States. Meanwhile, institutional lenders approved approximately 27.5 of the loan applications received. Credit unions and small banks had the lowest approval rates for loans to small businesses.
Approval rate of small businesses loans in the United States from September 2019 to September 2023, by lender type
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Various sources (biz2credit.com). (November 1, 2023). Approval rate of small businesses loans in the United States from September 2019 to September 2023, by lender type [Graph]. In Statista. Retrieved November 25, 2024, from https://www.statista.com/statistics/754738/small-businesses-loan-approval-rates-usa/
Various sources (biz2credit.com). "Approval rate of small businesses loans in the United States from September 2019 to September 2023, by lender type." Chart. November 1, 2023. Statista. Accessed November 25, 2024. https://www.statista.com/statistics/754738/small-businesses-loan-approval-rates-usa/
Various sources (biz2credit.com). (2023). Approval rate of small businesses loans in the United States from September 2019 to September 2023, by lender type. Statista. Statista Inc.. Accessed: November 25, 2024. https://www.statista.com/statistics/754738/small-businesses-loan-approval-rates-usa/
Various sources (biz2credit.com). "Approval Rate of Small Businesses Loans in The United States from September 2019 to September 2023, by Lender Type." Statista, Statista Inc., 1 Nov 2023, https://www.statista.com/statistics/754738/small-businesses-loan-approval-rates-usa/
Various sources (biz2credit.com), Approval rate of small businesses loans in the United States from September 2019 to September 2023, by lender type Statista, https://www.statista.com/statistics/754738/small-businesses-loan-approval-rates-usa/ (last visited November 25, 2024)
Approval rate of small businesses loans in the United States from September 2019 to September 2023, by lender type [Graph], Various sources (biz2credit.com), November 1, 2023. [Online]. Available: https://www.statista.com/statistics/754738/small-businesses-loan-approval-rates-usa/