Loan demand from small businesses is at its highest level since 2005, according to a new Fed survey out today. Overall, banks classified loan demand as “somewhat stronger.”
While lack of lending is still seen as an impediment to small business growth, small businesses are pushing for funds. The Senior Loan Officer Opinion Survey on Bank Lending Practices noted that among domestic banks, 15 percent reported an increase in requests for loans from small firms.
Domestic banks also reported an increase in the number of inquiries from businesses for new or increased lines of credit.