More than 80% of the 415 small businesses ($1-$10MM) surveyed by Greenwich Associates this week have applied for a loan under the SBA’s new Paycheck Protection Program. Based on that rate, some 24 million U.S. businesses will be applying for SBA loans in coming days and weeks. That volume represents a massive challenge that could threaten to overwhelm both the banks that will manage these applications, and the pool of funds allocated for these loans by the U.S Congress.
MethodologyGreenwich Market Pulse: An ongoing research series that addresses the most important and timely issues facing small and mid-sized ($1- 500MM) company executives and their banking relationships. Greenwich Associates' access to thousands of financial decision-makers in the United States allows for constant contact with the market.
Greenwich Market Pulse reports deliver the unbiased perspectives of these individuals in concise and actionable charts, complemented by insights and analysis from Greenwich Associates industry experts. Greenwich Market Pulse studies are conducted four times per year and are often used in tandem with other annual Greenwich Associates research.
415 small businesses ($1-10MM) were interviewed online on April 7 8, 2020.