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Small Business
Recent Articles
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2018 Small Business Credit Survey Report on Nonemployer Firms
The 2017 SBCS provides insights on business conditions and access to financing for nonemployer firms—those with no employees other than the owner(s). Findings show these firms often rely on their owners' personal finances to secure credit, address financial challenges, and fund their business operations. Read more.
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Browsing to Borrow: “Mom & Pop” Small Business Perspectives on Online Lenders
The Federal Reserve Board and the Federal Reserve Bank of Cleveland partnered on a study of small business owners’ perceptions of online lending and their understanding and interpretation of the information that online lenders use to describe their credit products. The study found that while perceptions of online lenders were mixed, participating small businesses agreed that there is a need for clear disclosure of online lenders’ product costs and terms. Read More
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The State of Urban Manufacturing: Cincinnati City Snapshot
The Federal Reserve Bank of Cleveland and the Urban Manufacturing Alliance (UMA) partnered for a study of the urban manufacturing sector in Cincinnati to learn more about the city’s manufacturing environment. The study included analysis of industry data and anecdotal data from more than 100 of the city’s manufacturing firms. Findings of the study revealed positive expectations, barriers to growth, and helpful recommendations for addressing challenges. Read More
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Stress Tests and Small Business Lending
Post-crisis stress tests have altered banks' credit supply to small business. Banks affected by stress tests reduce credit supply and raise interest rates on small business loans. Banks price the implied increase in capital requirements from stress tests where they have local knowledge, and exit markets where they do not, as quantities fall most in markets where stress-tested banks do not own branches near borrowers, and prices rise mainly where they do. These reductions in supply are concentrated among risky borrowers. Stress tests do not, however, reduce aggregate credit. Small banks increase their share in geographies formerly reliant on stress-tested lenders. Read More
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Small Business Credit Survey
Findings from the 2016 SBCS are featured in three new reports on key segments of the small business population: minority-owned firms, women-owned firms, and microbusinesses. Read More