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2019 Small Business Lending in the US

Small Business Lending in the United States, 2019

The U.S. Small Business Administration Office of Advocacy

First published September 2020

Access to credit from lenders is vital for the survival and growth of small firms, an important source of economic growth to the U.S. economy. 99 percent of American firms are small businesses, which employ 47.1 percent of the private sector. Bank lenders continue to be important suppliers of credit to small businesses, lending over $644 billion in small business loans in 2019. The growth of small businesses depends on how banks and other financial intermediaries respond to their credit needs. This report uses the latest publicly available lending data from banks to examine changes in small business credit for June 2017 through June 2019. The data used was collected prior to the 2020 COVID-19 pandemic and provides a precrisis benchmark on the state of small business lending.

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