Spring rains don't prompt sprout in business loan approvals.
Biz2Credit analysis based on 1,000 funding requests from credit unions, small banks and other alternative lenders.
New York company matches small businesses with lenders.
While it may not be much of a surprise to credit unions that some banks are not eager to approve funding for small businesses these days, the rate of rejections might cause some alarm.
If credit unions were looking for a lending panacea in 2011, it was nowhere to be found. It wasn’t for a lack of money to lend because many cooperatives were awash in funds, economists said over the course of the year.
Biz2Credit said while capital can still be a challenge for small businesses to come by, financing from credit unions and small, regional banks is on the rise.