As banks and other competitors make their way back into the business lending marketplace, credit unions appear to be holding their own with an increase in loan approval rates.
That's according to Biz2Credit's Small Business Lending Index, which analyzes information submitted by small business owners applying for financing through the firm's online platform that connect borrowers with more than 450 lenders nationwide.
"The biggest story is the continued aggressiveness of credit unions in small business lending," said Rohit Arora, CEO of Biz2Credit, a New York-based firm.
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