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Survey: Businesses more upbeat about bank loans

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[June 22, 2012]  NEW YORK (AP) -- Many small businesses expect to seek a bank loan this year although signs still point to a weak lending climate.

In a survey of nearly 6,000 businesses by Pepperdine University and Dun & Bradstreet Credibility Corp. during the first quarter, nearly a third of the participants said they plan to seek new financing in the next six months.

Of those companies, 68 percent said they're likely to try to borrow from a bank. That was the most popular response and was 28 percentage points ahead of the second most likely source of financing, a company's credit cards.

The survey indicated some growing optimism among business owners.

In a survey taken in January, 47 percent said they had been successful in getting a bank loan during the previous six months.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.




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