According to the latest Biz2Credit Small Business Lending Index, small business loan approval percentages at big banks fell from 14.6% in November to 14.5% in December and tied with January’s lowest monthly approval rate in 2022.

According to Biz2Credit’s Small Business Lending Index, small business loan approval percentages at big banks dropped from 14.7% in October to 14.6% in November, marking the second lowest monthly percentage in 2022.

A new study published by Biz2Credit found that information technology (IT) firms had the highest average revenue ($955,793) and the best average credit score (658) and received the highest average amount of financing ($131,743) when they sought credit in 2021.

According to the latest Biz2Credit Small Business Lending Index, small business loan approval percentages at big banks dropped from 14.9% in September to 14.7% in October, marking the lowest total since February.

Small business loan approval percentages at small banks (less than $10 million in assets), institutional lenders, alternative lenders and credit unions increased in September compared with August, while approvals at big banks (more than $10 million in assets) declined, according to Biz2Credit.

According to the latest Biz2Credit Small Business Lending Index, small business loan approval percentages at big banks (more than $10 billion in assets) dipped from 15.3% in July to 15.1% in August but rose at small banks from 21.2% in July to 21.4% in August.