According to the Coleman Report, a report that provides info to lenders, noted the failure rate of SBA-backed small business loans reached nearly 12 percent in 2008. That number is up from 2.4 percent in 2004 and 8.4 percent in 2007. This increase isn’t shocking to many, who note that it is a reflection of the economic times.
Source:
CNNMoney: Small Biz Loan Failure Rate Hits 12%
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