A national study from America’s Small Business Development Centers and Thryv found 69% of U.S. small businesses have already experienced a large drop in demand due to the coronavirus pandemic and 60% believe demand will continue to decline.
Optimism among small business owners is strong, according to the latest quarterly Wells Fargo/Gallup Small Business Index. The survey also revealed that over half of business owners reported little impact to their tax situation along with a rising interest in credit.
According to findings from the latest Wells Fargo/Gallup Small Business Index, small business owners entered the new year feeling the most optimistic since early 2007.
KeyBank has extended $318 million in approved dollars over the course of the year, representing a 43% jump in dollar volume from 2016 levels.
CIT Group’s Direct Capital has provided more than $4 billion in equipment financing and working capital loans to more than 100,000 small businesses since its inception in 1993.
Fifth Third Bank announced an investment and expanded partnership with the Accion U.S. Network to support lending to underserved small businesses.
A new Experian/Moody’s Q1 report on the financial health of the small-business community shows credit lines are expanding, but utilization rates are down 17% from the previous year.
The latest Wells Fargo/Gallup Small Business Index rose to 67 in January, a 13-point gain from November’s survey, indicating increased optimism.
PayNet has developed a Small Business Default Index, which will gauge small business defaults and signal insolvency across multiple sectors of the economy at the national, state and industry levels.
According to the latest Wells Fargo/Gallup Small Business Index, after reaching a seven-year high in January, small business owners are feeling less optimistic today than they were a year ago.