Bank loans top the list of expected financing sources for small businesses, according to a survey from Pepperdine University’s Graziadio School of Business and Management, conducted in partnership with Dun & Bradstreet Credibility Corp.

Sixty-eight percent (68%) of those seeking financing in the next six months said they will pursue a bank loan as a likely source of financing followed by 40% that said they will use a business credit card and 36% that will look at a credit union or Community Development Financial Institutions Fund (CDFI).

The recently collected data by the Pepperdine Private Capital Markets Project and Dun & Bradstreet Credibility Corp. as part of the First Quarter 2012 Private Capital Access Index study also shows 67% of respondents that were unsuccessful in securing a bank loan say the general category of financing is a still a good fit for their business.

In general, business owners with revenue between $5 million and $100 million were more optimistic about successfully raising financing from banks than businesses with revenues under $5 million. When ranking on a scale from 0-4 businesses with revenue between $5 million and $100 million ranked their level of confidence in securing a bank loan at 2.3 whereas businesses with revenues under $5 million ranked their confidence in securing a bank loan at 1.4.

The data, based on nearly 6,000 survey responses, contrasts with findings released in December 2011 which showed that 37% of respondents attempted to raise capital in the past 12 months through bank loans. Previous data also showed that half of respondents (49%) sought to use credit cards. Overall, in December, less than half (41%) of the 523 private businesses looking for capital were successful.

“In many ways, bank loans are a bellwether of the strength of our economy,” said Dr. John Paglia, director of the Pepperdine Private Capital Markets Project and associate professor of finance at Pepperdine University’s Graziadio School of Business and Management. “As business owners secure more traditional sources of financing and rely less on their own personal resources, they will have more discretionary money to spend thereby stimulating our economy.”

To read the full First Quarter 2012 study, click here.