Facts About Small Business Lending | Rosemont Capital Solutions | Duluth, Ga$0.0
|Street Address||Duluth, GA 30097|
Majority of small business owners do not qualify for bank loans. Small business lending is riskier than large business lending. Underwriting costs for a $100,000 and a $1,000,000 loan are about the same.Bank starts are not keeping with bank failures, same for small business.Big banks prefer low risk, low profit ventures. Since 1995 small business has created 2 out of 3 net new jobs. Small business loans down 20% since financial crisis of 2008
Bank competition for small business loans is falling. 74% of small business owners say that credit denial prevents them from expansion, filling orders or prevents them from hiring. More than 50% of small business seek loans less than $50,000. Non-bank lender take more risk on small business funding.