Small business lending environment has changed little this year

The lending environment for small and mid-sized businesses has changed little this year compared with the end of 2017.

That’s according to a survey of 1,237 companies taken during the first quarter and released Monday by researchers at Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet Corp.

Companies questioned in the survey found borrowing less difficult in the first three months of the year — 54 percent said it was hard to get credit, down from 58 percent in the fourth quarter. Going forward, 56 percent expect it will be difficult to get credit, the same as in the fourth-quarter survey.

Banks remained the largest source of credit for small and mid-sized companies, with a third getting credit from either large or community banks, little changed from the fourth quarter. Thirty-seven percent didn’t seek credit, also little changed.

An index that shows how accessible financing is for small businesses rose to 34.8 from 34.0 in the fourth quarter. A separate index that measures demand for financing rose to 36.4 from 36.2.

The survey questioned businesses with annual revenue of up to $100 million from Dun & Bradstreet’s database. The company compiles credit reports on companies.