This small business data bank is intended as a resource for small business owners, start-ups, economists and students looking for economic data related to small business.
This started with a quest to find out the average interest rates paid by small business borrowers on loans. After many hours or research, I wasn’t able to find the data. In fact, I wasn’t able to find a resource page which outlined the data available on small business economic activity.
Section 1: Loan Approvals, Credit Conditions & Interest Rates
The big questions that this index answers: What is the probability of a small business getting a loan?
What does it measure? The approval rates for small business loans from large banks, small banks, credit unions and alternative financing sources.
What is the data source? Over 1,000 small businesses per month use Biz2Credit to connect them with financing. Data is based on the aggregate data of Biz2Credit’s customers and is released monthly.
The big questions these indexes answer: Is credit expanding or contracting for small business? Are small businesses having trouble paying back loans?
What does it measure? The Small Business Lending Index measures monthly changes in the dollar amount of loans made to small businesses by large lenders. The Small Business Delinquency Index measures the percentage of loans to small businesses by large lenders that are past due between 31 – 90 days and between 90 – 180 days.
What is the data source? PayNet specializes in loan data and has a database which includes information on more than 20 million loans and leases. For these indexes, PayNet uses the data from US companies which have less than $1 million in total outstanding loans.
The big question this survey answers: How do small businesses feel about the economy, including access to credit?
What does it measure? While the survey covers a number of topics, the data related small business lending includes Credit Conditions, Borrowing Needs Satisfied, Expected Credit Conditions, Relative and Actual Interest Rates.
Credit Conditions – Availability Of Loans Versus 3 Months Ago
Regular Borrowers – Percentage of Small Business Owners That Have Borrowed Money In The Last 3 Months
Borrowing Needs Satisfied – Percentage of Small Business Owners That Report That Their Credit Need Have Been Satisfied and Have Not Been Satisfied In The Last 3 Months
Expected Credit Conditions – Percentage of Small Business Owners That Expect That Borrowing Will Be Easier minus The Percentage of Small Business Owners That Expect It To be More Difficult During The Next 3 Months
Relative Interest Rates - Percentage of Small Business Owners That Report Paying Higher Interest Rates minus The Percentage of Small Business Owners That Report Paying Lower Interest Rates Versus 3 Months Ag0
Actual Interest Rates – Interest Rate On Short Term Loans
What is the data source? The NFIB is basically a lobbying group representing the interests of small business owners on the local, state and federal level. The majority of their 300,000 plus members are business owners with 10 employees or less. On a monthly basis, the NFIB surveys several thousand members and receives back around 800 responses.
The big question: How much small business credit and loans is the SBA involved in subsidizing? How are those loans performing?
Shocking Stat: Less Than 20% of sba guaranteed loans go to women!
What does it measure? The weekly SBA Lending Statistics tracks 7A and 504 loans guaranteed by the Small Business Administration. There is data on the number of loans and dollar amount of loans, broken down by the following
- gender / ethnicity of borrower
- business stage (start up, existing)
- amount of loan (under and over $150k)
- program
The SBA loan performance numbers come out quarterly and include data on the percentage of non-performing loans and the recovery rate of non-performing loans.
What is the data source? The SBA is reporting on the loans it has guaranteed.
Section 2: Employment & Revenue
Paychex | IHS Small Business Job IndexThe big question: Are “real” small businesses adding or decreasing the workers on their payroll?
What does it measure? The Paychex | IHS Small Busienss Job Index tracks changes in the employment levels of 350,000 small businesses with less than 50 employees.
What is the data source? Paychex is one the largest providers of payroll services in the United States. The index is based on the aggregate data of its customer base .
ADP Small Business Report & ADP Nation Franchise Report
The big questions: What are the number of small business jobs being created or lost each month? In what sectors?
What does it measure? The ADP Small Business Report provides the number of jobs created or lost by company size (1-19 employees, 20-49) and sector (goods or services). A seperate report details job gains and losses for national franchises.
What is the data source? ADP is one the largest providers of payroll services in the United States. The index is based on the aggregate data of its customer base which includes over 400,000 businesses with less than 50 employees.
Intuit Small Business Indexes : Employment Index and Revenue Index
The big questions: Are small businesess increasing or decreasing the amount of hours that employees work and their wages? Are revenues at small businesses increasing or decreasing?
What does it measure? These indexes have statistics on the following for companies withe less than 20 employees:
Compensation – How much did the average employee earn during the last month in dollars ($)?
Hour Worked – How many (number of) hours did the average employee work during the past month?
Revenue – Relative measure of how much revenues increased or decreased during the last month.
What is the data source? Intuit is the leading player in the small business accounting software space with several million customers. Additionally, it offers payroll services.
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