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February 2, 2022

Financing and Credit Products Sought by US Small Businesses, Nov 2021 (% of respondents)

Note

Respondents were asked, "In the past 12 months, what types of financing did your business apply for? Select all that apply."

Methodology

Data is from the February 2022 Federal Reserve Banks "Small Business Credit Survey: 2022 Report on Employer Firms." 10,914 US employer firms with 1-499 employees were surveyed online during September-November 2021. Using a methodology developed in collaboration with the National Opinion Research Center (NORC) at the University of Chicago, sample data is weighted such that the weighted distribution of firms in the survey matches the distribution of the small firm population in the US according to the US Census, by number of employees, age, industry, geographic location, gender of owner(s), and race/ethnicity of owner(s). Annual revenue size of the firms surveyed were less than or equal to $100,000 (22%), $100,000-$1 million (52%), $1 million-$10 million (22%), and greater than $10 million (4%). The number of employees at each firm included 1-4 (55%), 5-9 (18%), 10-19 (13%), 20-49 (9%), and 50-499 (5%). Federal Reserve Banks include all 12 member banks which are based in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco.