Forecast: New Business Lending for SMEs in the US

The new business lending for SMEs in the US has experienced fluctuations over the past decade. Starting from $105.2 billion in 2013, there was a notable increase until 2015, peaking at $146.5 billion. This was followed by a period of inconsistency, with values declining or stagnating, especially during 2020 where the value dropped to $118.11 billion. Recent data shows a slight recovery reaching $148.4 billion in 2023. Year-on-year variations indicated volatility, particularly noticeable with a significant decline in 2020. The CAGR over the last five years was relatively low at 0.48%. Forecasted data for the next five years suggests a steady growth trend with a forecasted CAGR of 1.07% from 2024 to 2028, culminating in a value of $158.24 billion by 2028.

Future trends to watch for include potential impacts of economic policies on small business lending, the adoption of fintech solutions in the lending market, and the influence of macroeconomic factors such as inflation and interest rates on borrowing costs and accessibility for SMEs.