42% of Small Business Applicants Were Fully Approved for Financing in 2025
The Federal Reserve's 2026 Report on Employer Firms (based on 2025 survey data) found that 42% of small business financing applicants received all the funding they requested — the highest full-approval rate since 2021. An additional 25% were partially approved. Sixty percent of employer firms applied for financing in 2025, up from prior years.
The most common reason for denial or partial approval was insufficient collateral or credit history. Applicants who applied to multiple lenders — including online lenders and CDFIs alongside banks — reported higher full-approval rates.
This data point is part of The State of Small Business & Consumer Finance 2026, ClearValue Lending's data report.
Read the full The State of Small Business & Consumer Finance 2026 report →More Data Points
Ready to explore funding options for your business?
Start Your ApplicationNot ready to apply? See the full lineup of small business financing options first.
https://clearvaluelending.com/reports/stats/sba-approval-rate-2026