Finance
US Small Businesses Face Worst Credit in a Decade After SVB
- NFIB survey shows a net 9% of firms said loans harder to get
- Larger share sees tighter credit conditions in coming months
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More US small businesses reported having greater difficulty getting a loan in March after multiple bank failures led to a further tightening of credit conditions.
A net 9% of owners who borrow frequently said financing was harder to get compared to three months earlier, the most since December 2012, according to a survey from the National Federation of Independent Business out Tuesday. The same share expects tougher credit conditions in the next three months, matching the highest level in a decade.