
Lendio SMB Lending Index Score
Lendio is seeing an initial loosening of credit criteria with less stringent credit score requirements for small businesses to qualify for a loan in Q3 of 2024. The looser criteria increased Lendio’s SMB Lending Index from 62 in Q1 2024 to 64 in Q3 2024, indicating an increase in overall access to capital. Based on the feedback we heard from lenders in this survey, we anticipate this loosening of criteria to continue in Q4 and early 2025.
Lendio’s SMB Lending Index measures how accessible business financing is to small business owners with a higher score indicating greater accessibility. The score is based on the business profiles of the 14,000+ small businesses offered financing in Lendio’s marketplace in a quarter. The report’s methodology section provides a full breakdown of how the score is calculated.
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Lender sentiment
Lender sentiment

Lender sentiment

Lender sentiment


2024 State of SMB Lending Report
Key Insights
85% of small business owners say speed to loan approval is important when selecting a lender.
50% of small business owners say they don’t know if the bank they use for checking has the right loan options for them.
77% of small business owners prefer to apply for a loan online or via mobile app.