Only 41% of the Small Business Loan Applications are approved.

Only 41% of the Small Business Loan Applications are approved.

Submitted by Eddie DeAngels on Thu, 08/08/2013 - 15:31

That leaves 59% of the small businesses that are in need of funding, to keep trying other banks to get approved and in the extreme cases close up shop. Small business has been the backbone of our economy year after year accounting for more than 65% of all new jobs created in the USA. Every day it gets harder and harder for small businesses to get approved for funding, even though the strength of the workforce depends on small businesses to supply new jobs.

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