Annual Data Report · June 2026
The State of Small Business & Consumer Finance 2026
Verified statistics from federal primary sources — SBA, Federal Reserve, FDIC, U.S. Census Bureau, CFPB, and NCUA — aggregated into a single reference on small business financing, consumer credit, banking, and business formation in the United States.
By ClearValue Lending · Data from FY2025 / full-year 2025 sources, with select 2026 figures where available · All sources accessed June 4, 2026
Headline Findings
1. Interest Rate & Monetary Policy Environment
All figures as of June 2, 2026 unless noted. Source: Federal Reserve H.15 (mortgage rows marked * are Freddie Mac PMMS — H.15 does not publish mortgage rates)
| Metric | Value | Period |
|---|---|---|
| Federal funds target rate | 3.50%–3.75% | April 29, 2026 FOMC |
| Federal funds effective rate | 3.62% | June 2, 2026 |
| Bank prime loan rate | 6.75% | June 2, 2026 |
| 10-year Treasury yield | 4.46% | June 2, 2026 |
| 30-year Treasury yield | 4.97% | June 2, 2026 |
| 30-year fixed mortgage (national avg)* | 6.53% | Week of May 28, 2026 |
| 15-year fixed mortgage (national avg)* | 5.87% | Week of May 28, 2026 |
| 30-year mortgage — one year prior* | 6.89% | Week of May 2025 |
* Source: Freddie Mac Primary Mortgage Market Survey, not Federal Reserve H.15.
2. Small Business Lending — SBA Programs (FY2025)
Source: SBA.gov — FY2025 Annual Press Release (Sept 30, 2025)
| Metric | FY2025 |
|---|---|
| SBA 7(a) loans approved | 77,600 |
| SBA 7(a) total dollar volume | $37 billion |
| SBA 7(a) avg loan size (calculated) | ~$477,571 |
| SBA 504 loans approved | 6,750 |
| SBA 504 total dollar volume | $7.8 billion |
| Combined 7(a) + 504 loans | 84,400 loans / $44.8 billion |
| SBA startup loans (≤2 years old) | 8,900 loans for $5.6 billion |
| SBA manufacturing loans | 3,500+ loans for $2.6 billion |
3. Small Business Financing Conditions
From the 2026 Report on Employer Firms (2025 SBCS) — Federal Reserve. Survey fielded Sept 3–Nov 14, 2025; 6,525 respondents (firms with 1–499 employees).
| Metric | 2025 Survey |
|---|---|
| Applied for any financing (loans, LOC, MCA, credit cards) | 60% |
| Applied for loan, line of credit, or MCA specifically | 38% |
| Received full amount sought | 42% |
| Received partial financing | 36% |
| Received no financing | 22% |
| Full approval rate — small banks | 57% |
| Full approval rate — large banks (2024 SBCS benchmark) | 45% |
| Full approval rate — online lenders (2024 SBCS benchmark) | 30% |
| Used online fintech lenders | 29% (up from 17% in 2020) |
| Online lender borrowers: higher-than-expected costs | 60% |
| Small bank borrowers: higher-than-expected costs | ~37% |
| Large bank borrowers: higher-than-expected costs | ~32% |
| Firms that use financing on a regular basis | 86% |
| Using AI in some capacity | ~50% |
| Sourcing inputs internationally | ~50% |
4. Consumer Credit & Credit Cards
| Metric | Value | Source |
|---|---|---|
| Total outstanding consumer credit | $5,140.5B | March 2026 · Fed G.19 |
| Revolving credit outstanding | $1,337.0B | March 2026 · Fed G.19 |
| Nonrevolving credit outstanding | $3,803.6B | March 2026 · Fed G.19 |
| Revolving credit growth (monthly annualized) | 9.1% | March 2026 · Fed G.19 |
| Credit card APR — commercial banks (all accounts assessed interest) | 21.52% | 2025 avg · Fed G.19 |
| Bank classic credit card average rate | 15.27% | Q4 2025 · NCUA |
| Credit union classic credit card average rate | 12.58% | Q4 2025 · NCUA |
| Total revolving balance (credit cards) | >$1 trillion | End of 2024 · CFPB 2025 report |
5. Banking Industry — FDIC Full-Year 2025
Source: FDIC Quarterly Banking Profile Q4 2025
| Metric | Value |
|---|---|
| FDIC-insured institutions | 4,336 |
| Industry net income (full year) | $295.6 billion (+10.2% YoY) |
| Return on assets (full year) | 1.20% |
| Community bank net income | $29.9 billion (+22.5% YoY) |
| Community bank ROA | 1.32% |
| Annual loan growth rate | 5.9% (fastest in 11 quarters) |
| Net interest margin (Q4 2025) | 3.39% — highest since 2019 |
| Net charge-off rate (Q4 2025) | 0.63% |
| Past-due and nonaccrual (PDNA) loan rate | 1.56% |
| Deposit Insurance Fund balance | $153.9 billion (reserve ratio 1.42%) |
| Problem banks | 60 (1.4% of total) |
| Bank failures (Q4 2025) | 0 |
Savings & Deposit Rates
| Product | Banks | Credit Unions |
|---|---|---|
| Regular savings / share | 0.38% (FDIC national avg, May 2026) | 0.19% (NCUA Q4 2025) |
| Money market | 0.57% (FDIC national avg) | — |
| 12-month CD | 2.29% (NCUA Q4 2025) | 2.95% (NCUA Q4 2025) |
| 24-month CD | 1.50% (FDIC national avg) | — |
| Interest checking | 0.07% (FDIC national avg) | — |
| Personal loan — 36-month | 12.00% (NCUA Q4 2025) | 10.64% (NCUA Q4 2025) |
6. Business Formation
| Metric | Value | Source |
|---|---|---|
| Total U.S. small businesses | 36.2 million | SBA Advocacy, June 2025 |
| Share of private-sector employment | ~46% | SBA Advocacy, June 2025 |
| Net new jobs from small businesses | ~9 of every 10 | March 2023–March 2024 · SBA Advocacy |
| New establishments opened | 1.1 million | March 2023–March 2024 · SBA Advocacy |
| Total business applications (November 2025) | 535,041 | Census BFS, Nov 2025 |
| Total business applications (December 2025) | 497,046 | Census BFS, Dec 2025 |
Key Findings for Media & Research
"The SBA guaranteed $44.8 billion in small business loans across 84,400 approvals in FY2025 — a record sustained run, with three consecutive quarters above $8.5 billion for the first time since the agency began tracking in 1991."
Source: SBA.gov, September 30, 2025
"Only 42% of small business applicants received the full financing amount they sought in 2025 — meaning more than half walked away without their full ask, despite a surge in application rates to the highest level since 2021."
Source: Federal Reserve 2026 SBCS Report on Employer Firms
"The U.S. now has 36.2 million small businesses, nearly 46% of all private-sector employment — and in the latest year of data, small businesses created approximately 9 out of every 10 net new jobs."
Source: SBA Office of Advocacy, June 30, 2025
"60% of online fintech lending borrowers report that actual costs were higher than expected, compared to roughly 32–37% at traditional banks — a transparency gap that has widened as online lender usage jumped from 17% to 29% of all small business applicants over the past five years."
Source: Federal Reserve 2026 SBCS Report on Employer Firms
"Total outstanding consumer credit reached $5.14 trillion in March 2026, with revolving credit (primarily credit cards) growing at a 9.1% annualized monthly rate."
Source: Federal Reserve G.19 Consumer Credit Release, April 2026
"The national average savings account rate is just 0.38% — meaning a household with $50,000 in savings earns $190/year in interest while credit card rates at commercial banks average 21.52% on accounts assessed interest (Federal Reserve G.19, 2025 avg) and bank classic card rates average 15.27% (NCUA Q4 2025)."
Source: FDIC National Rates and Rate Caps, May 2026; NCUA Q4 2025; Federal Reserve G.19
"The 30-year fixed mortgage rate averaged 6.53% the week of May 28, 2026 — down from 6.89% a year earlier, a meaningful improvement in affordability but still roughly double the sub-3.5% rates seen in 2020–2021."
Source: Freddie Mac Primary Mortgage Market Survey
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Apply for Business FinancingData Notes & Methodology
All figures in this report are sourced from primary federal databases: the U.S. Small Business Administration, Federal Reserve, FDIC, NCUA, U.S. Census Bureau, and CFPB. No figures are fabricated or extrapolated from secondary sources without explicit attribution.
The 9.1% revolving credit growth rate is the March 2026 monthly seasonally adjusted annualized rate from the Federal Reserve G.19, not a quarterly or annual average.
Credit card rate comparisons use two distinct sources and definitions: the Federal Reserve G.19 average (21.52%) covers all commercial bank credit card accounts assessed interest; the NCUA figure (15.27%) covers bank "classic" credit card products at all FDIC-insured institutions. These are not directly comparable and should not be cited interchangeably.
Approval rate benchmarks for large banks and online lenders (45% and 30% respectively) are from the 2024 SBCS / 2025 Report on Employer Firms. The 2025 SBCS survey (2026 report) confirmed the 57% figure for small banks but comparable 2025 figures for large banks and online lenders were not in accessible summary pages at time of publication.
Refresh cadence: Key data points update annually — SBA FY totals each October, SBCS report each March/April, FDIC annual figures in February. This report will be refreshed each June with the latest available data.
Primary Sources
- SBA FY2025 Press Release — Record Capital
- 2026 Report on Employer Firms (2025 SBCS) — Federal Reserve
- Federal Reserve H.15 Selected Interest Rates
- Federal Reserve G.19 Consumer Credit
- Freddie Mac Primary Mortgage Market Survey
- FDIC Quarterly Banking Profile Q4 2025
- FDIC National Rates and Rate Caps — May 2026
- NCUA Credit Union and Bank Rates 2025 Q4
- SBA Office of Advocacy — 2025 Small Business Profile
- SBA Rule Change — Cumulative Loan Limit Doubled to $10M
- U.S. Census Bureau Business Formation Statistics
- CFPB Consumer Credit Card Market Report 2025
- Federal Reserve FOMC Statement — April 29, 2026
All sources accessed June 4, 2026.
https://clearvaluelending.com/reports/state-of-small-business-finance-2026