While it may not be much of a surprise to credit unions that some banks are not eager to approve funding for small businesses these days, the rate of rejections might cause some alarm.
New York topped the list of states where small businesses' requests for credit were turned down the most, according to Biz2Credit, a New York company that connects small and medium-sized businesses with lenders.
In a study of 1,000 small businesses, Biz2Credit found that Chase, Citibank, Bank of America and TD Bank frequently rejected applicants for funding in New York.
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