Small Business Credit Conditions

Article excerpt

REGULAR BORROWERS

Percent Borrowing at Least Once Every Three Months
(Seasonally Adjusted)

      Jan  Feb  Mar  Apr  May  Jun  Jul  Aug  Sep  Oct  Nov  Dec

2006   37   38   36   40   38   41   38   46   35   37   38   35

2007   37   39   35   37   38   35   36   35   36   36   32   34

2008   36   34   33   36   35   35   34   34   32   33   31   33

2009   35   36   33   33   34   30   33   32   33   33   33   33

2010   32   34   35   31   32   29   32   31   33   31   28   30

2011   31   31   29

[GRAPHIC OMITTED]

AVAILABILITY OF LOANS

Net Percent ("Easier" Minus "'Harder") Compared to Three Months Ago
(Regular Borrowers)

      Jan  Feb  Mar  Apr  May  Jun  Jul  Aug  Sep  Oct  Mov  Dec

2006   -5   -5   -6   -4   -5   -5   -6   -8   -3   -6   -6   -6

2007   -5   -5   -7   -5   -6   -5   -5   -7   -9   -6   -7   -7

2008   -7   -5   -7   -9   -8   -7   -9  -10  -11   -9  -11  -12

2009  -13  -13  -12  -14  -16  -14  -15  -14  -14  -14  -15  -15

2010  -14  -12  -15  -14  -13  -13  -13  -12  -14  -11  -11  -12

2011  -10  -11   -8

BORROWING NEEDS SATISFIED

Percent of All Businesses Last Three Months Satisfied/Percent of All
Businesses Last Three Months Not Satisfied
(All Borrowers)

        Jan   Feb    Mar   Apr   May    Jun    Jul

2006   36/4  37/6   36/6  38/5  38/5   39/5   38/4

2007   36/5  40/5   35/5  38/4  39/6   36/4   37/5

2008   34/5  35/4   32/6  34/5  34/7   35/5   32/7

2009   33/8  32/8  29/10  30/8  28/9  30/10  28/10

2010  27/11  29/9  29/11  28/9  28/8  25/10   27/9

2011   28/8  29/8   28/7

       Aug    Sep   Oct    Nov   Dec

2006  44/4   34/4  36/7   34/4  36/5

2007  35/4   37/5  36/6   32/4  32/7

2008  35/6   33/6  31/6   31/7  32/6

2009  30/7  30/10  29/9  29/10  28/8

2010  27/9   27/9  26/9   25/9  28/9

2011  28/8   29/8  28/7

EXPECTED CREDIT CONDITIONS

Net Percent ("Easier" Minus "Harder") During Next Three Months
(Regular Borrowers)

      Jan  Feb  Mar  Apr  May  Jun  Jul  Aug  Sep  Oct  Nov  Dec

2006   -6   -7   -7   -8   -8   -8   -7   -9   -5   -6   -5   -7

2007   -7   -8   -8   -7   -6   -6   -6   -9  -10   -8   -8  -10

2008   -9   -8   -9  -11  -10  -10  -12  -11  -13  -16  -13  -15

2009  -14  -16  -14  -12  -15  -13  -14  -13  -15  -16  -15  -15

2010  -13  -14  -16  -15  -12  -13  -14  -14  -14  -12  -10  -11

2011  -10  -10   -9

[GRAPHIC OMITTED]

RELATIVE INTEREST RATE PAID BY REGULAR BORROWERS

Net Percent ("Higher" Minus "Lower") Compared to Three Months Ago

      Jan  Feb  Mar  Apr  May  Jun  Jul  Aug  Sep  Oct  Nov  Dec

2006   26   32   29   32   28   30   30   34   22   20   23   16

2007   17   21   19   16   15   12   12   14   15    4    3    1

2008    0   -9   -5  -12  -15  -11   -4   -2   -3   -2   -6   -8

2009  -12   -9   -1   -2    0    0    3    3    5    3    8    3

2010    6    6    9    5    4    0    2    3    1    1    0    1

2011    3    6    5

Borrowing at Least Once Every Three Months. …