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the federal reserve bank of cleveland

Small Business

Small Businesses and the Federal Reserve

Issues affecting small firms are a priority for the Federal Reserve System. Not only are small businesses critical to the strength of local economies, but collectively they also make important contributions to national economic growth and employment. The Federal Reserve works with intermediaries to support small businesses and microenterprises, especially those in low- and moderate-income communities. Our efforts aim to strengthen collaboration across entities that provide assistance and funding to small businesses as well as support improved access to credit. In addition, we strive to foster a deeper understanding of trends and challenges facing small business owners.

Here at the Cleveland Fed, our work on these issues includes research on small business credit and capital, a regional survey of small business owners, and ongoing outreach with small business owners, bankers, and community leaders.

Learn more by browsing the resources here. You can find additional Federal Reserve System resources on small businesses at

Uncertain Terms: What Small Business Borrowers Find When Browsing Online Lender Websites

Uncertain Terms: What Small Business Borrowers Find When Browsing Online Lender Websites

The information available to prospective borrowers on small business online lender websites varies widely, and it is not unusual for lenders to detail terms in footnotes, fine print, or frequently asked questions (FAQs). Read more.

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Click, Submit 2.0: An Update on Online Lender Applicants from the Small Business Credit Survey

Though they represent a small share of total small-business lending, nonbank online lenders are a growing source of small-dollar credit for small businesses. Which businesses sought funds through online sources? How successful were their borrowing experiences? Find out.