Biz2Credit Releases Monthly and Annual Small Business Approval Rate Data

Biz2Credit has released its monthly Biz2Credit Small Business Lending Index report which provides approval rates on small business loans; large lenders increased approval rates while alternative and credit union lenders reported decreases; big banks reported an approval rate of 23.9% in December, an increase of 0.02% from November and 1% from December 2015; the small bank approval rate increased to 48.9% and the institutional lenders approval rate increased to 63.4%; alternative lending approval rates decreased to 58.6% and the approval rate from credit unions decreased to 40.9%.  Source