KANSAS CITY, MISSOURI - The Federal Reserve Bank of Kansas City today released the results from the Fourth Quarter 2022 External LinkNational Small Business Lending Survey. The quarterly survey of U.S. banks provides data on lending activity and terms for small businesses, a critical source of employment and economic growth for the country.

The survey found that small business commercial and industrial (C&I) lending increased slightly when compared to the previous quarter. However, small business lending declined sharply when compared to the same period in 2021.

Complete results of the survey are now available from the Kansas City Fed’s website, External Linkkansascityfed.org.

Key findings of this survey include:

  • Outstanding small business C&I loan balances increased slightly when compared to the previous quarter, after more than a year of declining balances.
  • New small business lending declined by 19.3 percent when compared to the same period in 2021.
  • Respondents noted rising interest rates, and declining loan demand and credit quality.
  • The impact of supply chain disruptions on small business lending eased in the fourth quarter, compared to previous quarters.

The Federal Reserve Bank of Kansas City’s national quarterly Small Business Lending Survey (FR 2028D) includes quantitative and qualitative data on credit market conditions for bank lending to small businesses across the country. The survey results provide detailed information on commercial banks’ lending activity and terms and offer a snapshot of small businesses' access to credit. Small business lending refers to small business commercial and industrial lending.

Media Contacts

Bill Medley: Bill.Medley@kc.frb.org

Victoria Rosengarten: Victoria.Rosengarten@kc.frb.org