Success for small businesses means success for the nation’s economy and growth in local economies.
Small-business financing is about more than just funding a new project or covering a cost—every dollar an entrepreneur gets is an opportunity to help their business grow and succeed. And success for small businesses means success for the nation’s economy and growth in your local economy. To look at the state of small businesses and the loans that are funding them, the researchers at Business.org compared small business loan demand from 2018 to 2019 to see how much capital businesses are acquiring and which states are seeing an increase or decrease in business loans.
Researchers considered the average loan size, how much the loan amount has increased over the past year, and the percent increase or decrease in the number of loans funded.
According to their data, Arizona had an average loan amount of $18,531 and a 26% increase in loans funded for 2019.
