GITNUX MARKETDATA REPORT 2024

Small Business Lending Statistics: Market Report & Data

Statistic 1

"In the U.S., small businesses make up 99.9 percent of all businesses."

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Statistic 2

"As of Q2 2020, approximately 20.2% of small businesses applied for a commercial bank loan."

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Statistic 3

"Only 50% of small firms have received the full amount of financing they've applied for in 2020."

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Statistic 4

"73% of smaller firms used personal savings to finance their businesses in the U.S."

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Statistic 5

"Medium, small and micro enterprises (MSMEs) financing gap is estimated to be $5.2 trillion, globally."

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Statistic 6

"Nearly 33% of small business finance comes from the entrepreneur or the owner’s personal savings."

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Statistic 7

"In Q2 of 2020, around 22.2% of small firms used vendor trade credit to meet capital demands."

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Statistic 8

"Fintech lenders issue approval decisions for small business loans within 24 hours 70% of the time."

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Statistic 9

"About 40% of small businesses applied for loan financing from a large bank in 2020."

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