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 applicants received all the financing they requested — a share that held steady year over year but remains below pre-pandemic levels. An additional 36% received some or most of the amount sought, and 22% of applicants received none. Sixty percent of employer firms applied for financing in 2025.
The most common reason applicants were denied financing was that lender requirements were too strict (46%) — ahead of too much existing debt (37%), low credit score (30%), and insufficient collateral (29%).
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