Check this out!
Small lenders like us, Lighter Capital are lending to small businesses at a much higher level then banks. Biz2Credit did a report on data from 1,000 small businesses. Angus Loten reported these findings in his article, "Small-Business Loans Edge Up at Small Banks".
In September, 45.1% of loan applicants were approved and that number is up from the start of the year from 43.5%. Other small financial institutions approved 61.5% of loan applications in September and in August it was 58%. Bank approvals dropped from 12.8% to 9.2% from January to September.
Banks are already strict in their small business funding and are getting stricter. Check out the full article!
Lighter Capital is proud to announce we have funded two companies this past month! We have some interesting and thriving companies coming in and we will continue to grow in funding many more companies.