Biz2Credit’s 2024 Latino-Owned Business Study found that, while revenues of Latino-owned companies increased (+11.6%), expenses rose more (+ 22.7%), resulting in lower earnings in 2023 – 24 than in 2022 – 23 (-$41.1K).
Network International, enabler of digital commerce in the Middle East and Africa, and Biz2X, a global technology and financing fintech in the U.S., India and Australia with over $10 billion funded through its digital lending platform, formed a new SME financing partnership.
The 2024 Biz2Credit Top 25 Cities for Small Business Study identified San Jose, California, as the top city for small businesses in its annual financial analysis that used data from 2023. The other top 5 cities are: San Francisco, CA; Colorado Springs, CO; Seattle, WA; and Greater Bridgeport, CT.
According to Biz2Credit’s Women-Owned Business Study, earnings for small businesses owned by women remained steady in 2023 while average annual revenue for businesses owned by women increased 15.5%.
Small business loan approval percentages at big banks (more than $10 billion in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index.
Small business loan approval percentages at big banks ($10 billion or more in assets) fell again, dropping from 13.2% in August to 13.1% in September, according to the latest Biz2Credit Small Business Lending Index.
Biz2X, a subsidiary of financial technology company Biz2Credit, entered into a new partnership with TAB Bank, an Ogden, UT-based digital bank that has provided financial solutions to middle-market commercial customers since 1998.
Average annual revenue for Latino businesses increased by 23.1% in 2022 – 2023 over the previous 12-month period, according to the annual Biz2Credit Latino-Owned Business Study.
Small business loan approval percentages at big banks (more than $10 billion in assets) fell from 13.3% in July to 13.2% in August, according to the latest Biz2Credit Small Business Lending Index. Big bank lending to small businesses has now dipped every month since June 2022.
Small business loan approval rates at big banks (more than $10 billion in assets) dropped from 13.4% in June to 13.3% in July, according to Biz2Credit’s Small Business Lending Index. Meanwhile, approval rates at smaller banks and non-bank lenders increased.