September Insights From the Lending Industry
Small Business Loan Approval Rates Dip at Big Banks in August, Improve for Smaller Banks
“According to the latest Biz2Credit Small Business Lending Index, small business loan approval percentages at big banks (more than $10 billion in assets) dipped from 15.3% in July to 15.1% in August but rose at small banks from 21.2% in July to 21.4% in August.”
The State of Security in Digital Banking
“Digital banking is skyrocketing in the U.S. as more than three-quarters of the population (around 200 million users) manage their finances from a computer or a phone. And with the rise in ubiquitous online banking comes new security risks that must be acknowledged and addressed.”
Inflation Eases For Some Small Businesses But Remains A Serious Problem
“The NFIB Small Business Optimism Index rose 1.9 points in August to 91.8, marking the eighth consecutive month below the 48-year average of 98 but reversing some of the declines in the first half of the year.”
Importance of Accelerating Digital Transformation in Commercial Lending
“Commercial lenders face constant credit risk and an uncertain future in volatile times. For profitable growth, one must focus on what one still has control over, from costs to risk assessment.”
Commercial Chapter 11 Bankruptcy Filings Jump in August
“Bankruptcy filings in August 2022 across all chapters totaled 35,355, a 10 percent increase from the August 2021 total of 32,276, according to new research released from Epiq’s Bankruptcy Analytics platform.”