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Institutional lenders reached an all-time high in the number of small business loans they approved, as did big banks, the latest Biz2Credt Small Business Lending Index reveals.
Small banks, however, reached an all-time low in total number of approved small business loans.
Specifically, institutional lenders (including credit funds, family offices and hedge funds) continued to show month-over-month growth in small business loan approvals, reaching 62 percent up from August’s 61.8 percent. September, in fact, marked the twelfth consecutive month of loan approval growth for this category of lender.