2015 YEAR-END ECONOMIC REPORT

SMALL BUSINESS FINANCING
Have you experienced any of the following changes
on any of your lines of credit or on your credit cards
in the last six months?
What types of financing has your company used within the past 12
months to meet your capital needs?
DEC. 2015
19% 8% 73%
DEC.
2015
JULY
2015
DEC.
2014
JULY
2014
Bank Loan (Total of 3 options below) 43% 42% 41% 40%
--- Large Bank Loan 21% 20% 17% 19%
INCREASE DECREASE NO CHANGE
JULY 2015
16% 10% 75%
DEC. 2014
18% 11% 71%
JULY 2014
13% 12% 75%
--- Community Bank Loan 19% 18% 20% 19%
--- Credit Union Loan 3% 5% 4% 2%
Earnings of the business 33% 37% 35% 32%
Credit cards 31% 34% 36% 30%
Used no financing 27% 25% 27% 28%
Vendor credit 16% 18% 19% 15%
Private loan (friends or family) 14% 16% 18% 17%
For bank loans that are currently outstanding, which of
the following has occurred in the last 12 Months?
Leasing 4% 7% 6% 6%
Small Business Administration
(SBA) loan
3% 5% 3% 4%
Terms have
become less
favorable to
your business
Terms have
stayed the
same
Terms have
become more
favorable to
your business
Do not have
outstanding
loans
DEC.
2015
JULY
2015
DEC.
2014
JULY
2014
11% 11% 9% 10%
41% 42% 39% 38%
4% 4% 5% 6%
43% 43% 47% 45%
Online or non-bank lender 3% 2% 1% 1%
State/Regional Loan and Incentive
Programs
2% 1% 1% 1%
Private placement of debt 1% 2% 2% 2%
Selling/pledging accounts
receivable
1% 1% 3% 2%
Venture capital/Angel investors 1% 1% 2% N/A
Private placement of stock 1% 1% 1% 2%
Other 5% 5% 5% 5%
2015 YEAR-END ECONOMIC REPORT 10 NATIONAL SMALL BUSINESS ASSOCIATION