POLL: Almost Half of Small Business Owners Say Access to Credit Still a Problem; Large Majorities Support More Innovation in Lending

WASHINGTON, June 17, 2013 /PRNewswire-USNewswire/ -- Almost half (47%) of small business owners say that access to credit is currently a problem for their business, according a new national poll released today by the American Sustainable Business Council (ASBC). At the same time, large majorities want more innovation in credit delivery.

"It's a serious problem for the economy that almost half of very small businesses still face a credit crunch five years after the financial crisis," said Richard Eidlin, Director for Public Policy for ASBC. "The poll points to two obvious solutions to the access to credit problem: more well-regulated, financial services innovation and more competitive opportunities for local lenders." 

The scientific sample of owners of small businesses contained 38% businesses with two to four employees, 24% with five to nine employees, 18% with 10 to 19 employees and 20% with 20 to 99 employees. The poll found that 90% support allowing community banks, cooperatives, and credit unions to compete more actively with commercial banks. And it found that 57% support broadening lending criteria to include the social and environmental benefits a company creates when deciding what companies and projects to fund.

Also in the poll, 79% said that the government has done a fair or poor job of making sure the banking system is solvent and adequately protected from future banking crises, bailouts, and shortages of credit.  And 60% believe that the problem of "too-big-to-fail" banks taking on excessive credit risks needs more attention from the government.

The poll included 47% Republican, 14% Independent and 27% Democratic small business owners.

Poll results are from a scientific national phone survey of owners of small businesses (with 2 to 99 employees), commissioned by the American Sustainable Business Council and conducted by Lake Research Partners. The nationwide live phone survey was conducted between March 14-25, 2013. It has a margin of error of +/- 4.4%.

To view the full survey results, visit: http://bit.ly/ASBC_Credit_Poll_Report2013

The American Sustainable Business Council and its member organizations represent more than 165,000 businesses nationwide, and more than 300,000 entrepreneurs, executives, managers, and investors. ASBC informs and engages policy makers and the public about the need and opportunities for building a vibrant and sustainable economy.

CONTACT: Bob Keener, [email protected], 617-610-6766

SOURCE American Sustainable Business Council

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