Small-Business Lending Faces Mixed Signals Amid Economic Shifts

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

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, although they remained up by more than 2 percent from the same period in 2024, according to the report released on Aug. 18.