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Small-business financing, measured and sourced.

Reports and data tracking merchant cash advances and the wider small-business credit market. Every figure carries the source, period and sample behind it, so it can be checked and cited.

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Borrowers reporting higher-than-expected borrowing costs, by lender typeBorrowers reporting higher-than-expected borrowing costs, by lender type (%): Online lenders 60, Small banks 37, Large banks 32Borrowers reporting higher-than-expected borrowing costs, bylender typeShare of borrowers who said actual costs were higher than expected, 2025 survey0%20%40%60%Online lendersOnline lenders: 6060%Small banksSmall banks: 3737%Large banksLarge banks: 3232%Source: Federal Reserve Banks, 2026 Report on Employer Firms: Findings from the 2025 Small BusinessCredit Survey (2026-03-03)Hadley Commercial Credit Review · Financing applications and outcomes section, paragraph beginning 'Most appli…
Borrowers reporting higher-than-expected borrowing costs, by lender typeBorrowers reporting higher-than-expected borrowing costs, by lender type (%): Online lenders 60, Small banks 37, Large banks 32Borrowers reporting higher-than-expectedborrowing costs, by lender typeShare of borrowers who said actual costs were higherthan expected, 2025 survey0%20%40%60%Online lendersOnline lenders: 6060%Small banksSmall banks: 3737%Large banksLarge banks: 3232%Source: Federal Reserve Banks, 2026 Report on EmployerFirms: Findings from the 2025 Small Business Credit SurveyHadley Commercial Credit Review · Financing applicatio…
From Report No. 01: Average equipment loan interest rate: what the data can show
§ 01 · Charts

From the reports

Published reports
Outcomes for firms that applied for financingOutcomes for firms that applied for financing (%): Received the full amount 42, Received some or most 36, Received none 22Outcomes for firms that applied for financingShare of applicants by amount received, 2025 survey0%10%20%30%40%50%Received the full amountReceived the full amount: 4242%Received some or mostReceived some or most: 3636%Received noneReceived none: 2222%Source: Federal Reserve Banks, 2026 Report on Employer Firms: Findings from the 2025 Small BusinessCredit Survey (2026-03-03)Hadley Commercial Credit Review · Debt and credit demand section, sentence beginning 'Forty-two percent of app…
Outcomes for firms that applied for financingOutcomes for firms that applied for financing (%): Received the full amount 42, Received some or most 36, Received none 22Outcomes for firms that applied forfinancingShare of applicants by amount received, 2025 survey0%10%20%30%40%50%Received the full amountReceived the full amount: 4242%Received some or mostReceived some or most: 3636%Received noneReceived none: 2222%Source: Federal Reserve Banks, 2026 Report on EmployerFirms: Findings from the 2025 Small Business Credit SurveyHadley Commercial Credit Review · Debt and credit dema…
§ 02 · Reports

Published reports

All reports
2025 SBCS; 2022 FDIC surveyNo. 01

Average equipment loan interest rate: what the data can show

No source here publishes an average equipment loan interest rate. The closest figures come from the Federal Reserve Banks' 2025 survey. Among borrowers, 60% at online lenders said actual costs were higher than expected, against 37% at small banks and 32% at large banks. Of applicants at small banks, 57% were fully approved.

2 sources
60%Borrowers from online lenders who said actual borrowing costs were higher than expected
Method

How the figures are produced

Every benchmark states the variable it reports (factor rate, advance size, term, holdback), its unit, the period covered and the sample it was drawn from. Any figure that has no stated sample is labeled illustrative and should not be read as a measurement.

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