KC Fed Launches Small Business Lending Survey

April 6 — The Federal Reserve Bank of Kansas City has launched a national quarterly Small Business Lending Survey (FR 2028D) that includes quantitative and qualitative data on credit market conditions for bank lending to small businesses across the country. Results will provide detailed information on commercial banks’ lending activity and terms, as well as a snapshot of small businesses’ access to credit.

The survey will replace the Federal Reserve Board of Governors’ Survey of Terms of Business Lending (FR 2028A), which ended as of May 2017. Starting with this release, which covers the fourth quarter of 2017, the Kansas City Fed will publish results quarterly online.

Data on commercial and industrial loans not otherwise available will be voluntarily collected from lending institutions. The survey will also track changes from quarter to quarter for loan amounts, interest rates, maturities and lending terms for term loans and lines of credit with fixed and variable interest rates, and applications received and approved. In addition, qualitative information on changes in credit standards, terms and loan demand will be collected, as well as reasons for those changes.

Per the terms of the survey, a small business loan will be defined as a loan made to a firm with $5 million or less in annual gross revenue. In a statement released by the Kansas City Fed, it states, “This is an improvement from other small business lending data collections that use loan size to define a small business loan.”

Results from the Fourth Quarter 2017 Survey are now available. As more data becomes available and the survey panel grows, staff will be able to report on trends in small business lending and provide regional breakdowns on lending activity.

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