Survey: Small Biz Needs Help with Loans

In a recent survey of nearly 2,500 owners of industrial small businesses, nearly one-third (29%) said they need help in obtaining a loan, and 44% said that access to capital is a challenge.

The survey, conducted by the Thomas Regional Directory Company as part of marketing effort with SBA, listed as its key finding that managing growth is a serious challenge to 78% of small businesses.

When it comes to financing, the survey demonstrated that how a start-up business is financed is different from how business growth is financed. Half of the businesses surveyed said they started within the last 11 years and 78% used personal sources to obtain the capital needed to start or purchase their businesses. Only 16% relied on a bank loan.