NEW YORK, Nov. 12, 2019 (GLOBE NEWSWIRE) — The approval percentage for small business loan applications at big banks ($10 billion+ in assets) inched up one-tenth of a percent to reach 28% for the first time ever in October 2019, according to the Biz2Credit Small Business Lending Index™ released today.

“With yet another interest rate cut by the Federal Reserve, small businesses are benefiting from positive economic conditions that are unrivaled in recent times,” said Biz2Credit CEO Rohit Arora, who oversees the monthly research. “It has been a very good year for small businesses that are looking for capital, and I don’t foresee any changes during the rest of 2019.”

Read more here: https://markets.businessinsider.com/news/stocks/big-banks-small-business-loan-approvals-hit-new-record-in-october-according-to-biz2credit-small-business-lending-index-1028681422