Big Banks Bullish on Lending to Small Businesses, Biz2Credit Reports

The July Biz2Credit Small Business Lending Index reports this was a strong month for small business lending approvals. Strong economic numbers including higher wages are driving lenders to give small businesses the funds they need to grow in this environment.Biz2Credit CEO Rohit Arora, who oversees the Index, explained this environment in the report. Arora said, “The Fed rated the economy as strong this month, and the Jobs Report found that the economy keeps adding jobs in many sectors. In addition, there is optimism among small business owners. All of these factors create an atmosphere that is ripe for small business lending.”He goes on to say owners are investing more in their businesses because they are able to secure funding.With lenders across all sectors approving more loans, entrepreneurs with their first startup or established small business owners now have more growth and expansion opportunities.