Majority of Companies Expect to Apply For More Credit in 2020

Majority of small businesses and middle-market companies both expect to apply or are unsure if they will apply for additional credit in the next 12 months. Over 3/4 (78%) of small businesses expected to apply or weren’t sure if they would apply for credit in Q2 2020,compared to only 55% in Q1 2017. Whereas, 9 in 10 (93%) middle market companies expected or weren’t sure if they’d apply for credit in Q2. This is the largest expectation of potential credit expectations for middle-market companies since 68% did so in Q1 2017.

This Live Oak Business Pulse report contains data from surveys conducted April 1-19, 2020 with 498 small businesses (Revenues $100k-<$10MM) and 372 middle-market companies (Revs $10MM-<$500MM) responding.

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