The Federal Reserve Bank of Kansas City released the results from the Second Quarter 2019 national Small Business Lending Survey this week.
The quarterly survey of U.S. banks provides data on lending activity and terms for small businesses, a critical source of employment and economic growth for the country. Complete results of the survey are now available from the Kansas City Fed’s website by clicking here.
Key findings include:
- The dollar volume of new small business commercial and industrial loan balances declined 10.5 percent year-over-year.
- Large banks reported decreases in outstanding small business C&I loan balances compared with the previous quarter and second quarter of 2018.
- Interest rates on new fixed rate term loans and variable rate lines of credit decreased 24 and 21 basis points, respectively.
- Banks tightened credit standards and most loan terms in the second quarter.
The Federal Reserve Bank of Kansas City’s national quarterly Small Business Lending Survey includes quantitative and qualitative data on credit market conditions for bank lending to small businesses across the country. The survey results provide detailed information on commercial banks’ lending activity and terms and offer a snapshot of small businesses’ access to credit.