Interesting article from Inc online about small business lending in the US. Although we’re Canadian, trends in the US typically influence what’s going on in Canada.
A new survey showed that there may be increased lending to small businesses in the near future.
The report, conducted by FICO and Professional Risk Managers’ International Association, found that 70 percent of risk managers predicted requests for loans from small businesses will increase in the next six months–and 89 percent of them predicted the approval rate of such credit/loan applications will remain steady or increase slightly.
FICO’s chief analytics officer and head of FISCO labs Andrew Jennings noted that the positive sentiments expressed by the bank risk managers surveyed could imply potential increase in investing and hiring in the upcoming months.
Only 39 percent, down from 47 percent in Q4 of 2012, believed that the small business loan supply will fall short of the demand.