Small businesses in the United States encountered growing challenges accessing credit in June, according to Equifax’s latest Small Business Lending Index.
Lending volumes fell by 3.3 percent month over month, though they remained up by more than 2 percent from the same period last year, according to the report released on Aug. 18.
The index’s three-month moving average jumped to 1 percent, fueled by robust lending activity volumes in April that have since eroded.
Regionally, 23 states experienced year-over-year declines in 12-month rolling lending volumes, with California (negative 10 percent), Nevada (negative 9 percent), and Georgia (negative 6 percent) leading the decline.
Across industries, nominal (non-inflation-adjusted) lending decreased in six of the 17 sectors tracked. Accommodation and food services experienced the sharpest decline, while construction, finance and insurance, and retail lending remained stable….
Small Business Lending Faces Mixed Signals Amid Economic Shifts
