Small Business Lending Faces Mixed Signals Amid Economic Shifts

Businesses and households have adopted ‘a cautious approach to hiring, spending, and investment,’ says one chief economist.

People walk past small businesses in Doylestown, Pa., on Nov. 4, 2021. Matt Rourke/AP Photo

Small businesses in the United States encountered growing challenges accessing credit in June, according to Equifax’s latest Small Business Lending Index.

Lending volumes fell by 3.3 percent month over month, though they remained up by more than 2 percent from the same period last year, according to the report released on Aug. 18.