FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 24 April 2016

2015 Small Business Credit Survey: Small Businesses Reported Stronger Performance In The 2015 Survey Than In The 2014

from the New York Fed

Despite the significance of small businesses to the U.S. economy and to local communities, information on small business financing conditions is limited, leaving important knowledge gaps for policymakers and service providers.

To fill those gaps, the Small Business Credit Survey, a collaboration among seven Federal Reserve Banks, including New York, Atlanta, Boston, Cleveland, Philadelphia, Richmond and St. Louis, offers insight about business owners' financing decisions. The survey focuses particular attention on how credit demand, sources and outcomes vary within the small business sector.

This report focuses on the survey responses of 3,459 employer firms from 26 states. It sheds particular light on three sub-segments - startups, microbusinesses, and growing firms, or those with increasing revenues and employees and plans to increase or maintain their number of employees.

Here are key findings from the survey:

More small businesses reported stronger performance in the 2015 survey than in the 2014 survey.

Employer Firm Performance Index1

Revenue growth21%26%
Employment growth14%15%


1 For revenue and employment growth, the index is the share reporting positive growth minus the share reporting negative growth. For profitability, it's the share profitable minus the share not-profitable.

Cash flow is a common challenge for small businesses. For growing firms, hiring and/or retaining qualified staff is the top challenge.

Top Business Challenge By Type Of Firm





Cash flow22%23%25%26%
Costs of running business19%16%23%22%
Credit availability9%12%13%13%
Government regulations10%9%4%4%
Hiring and/or retaining qualified staff17%24%15%9%

While financing success improved in the 2015 survey, half of applicant firms received less than the amount requested.

Application Outcomes By Size Of Firm

All firms50%50%
Micro (<$100K)37%63%

Traditional bank lending continues to be the primary source of financing for small businesses.

Credit Sources Applied To By Revenue Size Of Firm

ALL FIRMS>$10M$1M-$10M$100K-$1MMICRO


Small bank52%53%59%52%44%
Large bank42%58%45%39%41%
Online lender20%6%11%22%30%
Credit union9%1%4%9%14%

Online lenders have the lowest borrower satisfaction levels because of concerns with high interest rates and unfavorable repayment terms.

Lender Satisfaction Score 1

Small bank75%
Credit union56%
Large bank51%
Online lender15%


1 Satisfaction score is the share satisfied with lender minus the share dissatisfied.

[click here to download the entire report]


>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

You can also comment using Facebook directly using he comment block below.

Econintersect Contributors


Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Take a look at what is going on inside of
Main Home
Analysis Blog
A Short Note on a Connection Between Marginalist Economics and Folk Medicine
Run A High Pressure Economy? Janet Yellen Does Not Understand the Problem
News Blog
How Accurate Are Final US Election Polls
What We Read Today 27 October 2016
A Pony And His Beloved Teddy Bear Reunite After Being Apart For 3 Years
October 2016 Kansas City Fed Manufacturing Remains In Expansion
September 2016 Median Household Income Not Statistically Different Than The Previous Month
September 2016 Pending Home Sales Index Improves
22 October 2016 Initial Unemployment Claims: Rolling Averages Marginally Worsen
Durable Goods New Orders Marginally Declined in September 2016
Infographic Of The Day: 41 Interesting Facts About Tesla Motors
Early Headlines: Asia Stocks Down, Oil Lower, Great Lakes Wind Power, Chinese Moving Mfg To US, Tesla Reports Profit, Dems Forecast To Take Senate, China's Debt And More
How Miller Stacks Up Against His Draft Class
Inside The Machine: How Two Nobel Winners Taught Us How Companies Tick
Healthcare's Dirty Little Secret: Results From Many Clinical Trials Are Unreliable
Investing Blog Technical Report 27 October 2016
Thirsty For Income? How To Thrive In This Yield Desert
Opinion Blog
A Hard Brexit And Reduced Migration Won't Benefit UK Workers
What Triggers Collapse?
Precious Metals Blog
Inflation Surging As Platinum Signals Stock Market Decline
Live Markets
27Oct2016 Market Close: Wall Street Closes Fractionally Lower, Interest-Rate Stocks Outweighed Gains In Healthcare, Market Indicators Bearish
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

Crowdfunding ....



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved