Small Businesses Seeking Capital See Decrease in Big Bank Loans

After a positive run for much of the year, small business loans from big banks dropped in October for the first time in seven months. Small business loan approval rates from big banks to small businesses dropped from 20.6 percent in September to 20.4 percent in October, according to the October 2014 Biz2Credit Small Business Lending Index.

The Lending Index from Biz2Credit takes a monthly look at small business lending trends. The data for the Lending Index is gleaned from an analysis of 1,000 loan applications at Biz2Credit.com every month.

Big bank-to-small business lending approval rates had risen for seven consecutive months, through September. The 20.4 percent rate in October matches the same rate posted in August.