Small Business Loans Are Big Business

MoneyTips

According to a survey by the Pepperdine Private Capital Access Index, small businesses are planning to expand this year. The survey found that 83% of respondents said they believe their small business will expand in 2016. Many added that they expect their total annual revenue to increase by an average of nine percent over the year. Owners of businesses that made $5 million or less were more confident about the growth of their business than those who owned bigger companies, showing that the small business sector is booming.

Small businesses need financing to grow, but securing that capital is often difficult. The U.S. Small Business Administration estimates that only twenty percent of all small business loan applications received in 2015 were approved.

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