The 2017 Small Business Credit Survey from the Federal Reserve shows that nearly 60 percent of small businesses applied for financing in 2017 because they wanted to expand their business or pursue new opportunities. The report also discloses the percentage of applications that were funded as well as the reasons small businesses were denied credit. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.