[USAnum1]

>"About 80% of small business loan applications in the US are denied."

Wow, I thought 80% was an overstatement. You are very much correct with regards to the "big" banks.

See: "big banks – that is, banks with $10 billion or more in assets – approved of 21.3 percent of small business loan applications in January 2015, up from 21.1 percent the month prior" [0]

Not the world's greatest source, but informative none the less: [0]: http://www.pymnts.com/news/b2b-payments/2015/big-bank-backed...

[rrggrr]

Even worse... a huge portion of loans to small businesses are made through secondary lenders charging 10-28% on the money. This debt burden increases default risk at the same time as it decreases additional investment.

[cm2012]

Also, that's 80% of official applications. Countless others were given soft nos - "don't bother applying as a start-up/fico under 680/time in business under 3 years" etc.

[icelancer]

Yup. Couldn't even get a LOC for $15k when we had cash reserves of $35k and 2 years in business making $250k/year because we wouldn't become personal guarantors on the loan and we were a risky startup.... that was cash finances, no debt....

Okay. I don't pretend to understand. (We wanted the line to service hard goods / inventory instead of cash servicing inventory, which is a standard retail tactic. Oh well.)