Thursday, 20 August 2026
SME & Entrepreneurship

Small business loan approvals improve but remain below demand

Lenders approved a larger share of SME applications this quarter, though rejection rates stay elevated.

Lenders approved a larger share of small business credit applications this quarter, though rejection rates remain elevated by historical standards, according to industry figures.

The figures show approval rates improving across most sectors, with construction and hospitality remaining the hardest to fund.

Industry commentary attributed the improvement to better trading data following a difficult trading period, while noting that collateral requirements continue to exclude many applicants.