This is where alternative lenders can come in a fill the void. Business owners need to have an open mind to look at this option to meet their capital needs.My experience has been many business owners love the idea of obtaining capital from a bank, but are not aware of the options available to them. Loan Approval Rates Continue to Drop at Big Banks
When interest rates go up, loans are less attractive.
That inevitably means that applicants will be higher risk on average.
The banks haven’t necessarily shrunk the buy box.
It COULD mean more opportunity for alternative lenders, but the net effect after accounting for an overall lower demand for lending is probably still a downward trend.