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Updated Nov 20, 2023

Small Business Financing Trends to Watch

Small businesses face unique challenges and opportunities. Learn what's ahead for small business financing.

Sally Herigstad
Written By: Sally HerigstadBusiness Operations Insider and Senior Writer
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This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision.

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It’s been a rough few years for small businesses. Surviving companies adapted, stayed persistent and were willing to look for help when needed. With the worst of the pandemic and related restrictions in the past, we’re seeing high demand for goods and services. However, this demand has been so high that suppliers find it challenging to keep up, and inflation hit 8.5 percent in 2022 – its highest level since 1982. 

High demand is great for small businesses – if they have the capital to hire enough people and procure supplies to satisfy customer demand. We’ll examine the current state of small business financing to give SMBs a clearer outlook. 

Editor’s note: Need a loan for your business? Fill out the below questionnaire to have our vendor partners contact you with free information.

Small businesses should prepare for financing challenges

The economy is already experiencing inflation and supply chain disruptions. Energy prices are through the roof, and people are arguing about whether we’re already in a recession. Real estate sales are slowing, primarily due to high interest rates and buyers wondering what will happen next.

High interest rates and potentially lower real estate equity may reduce access to capital for some small businesses. It’s essential to find alternate funding sources or adjust capital needs before you need them.

Small businesses should prepare for financing challenges. The post-COVID-19 economy has taken off, but not in a smooth or predictable fashion. “Things will be difficult,” Gillman noted. However, there’s no need for panic. “When there’s challenges, it creates opportunities,” said Gillman. “The hard part is answering the question of what that opportunity is.”

Sally Herigstad
Written By: Sally HerigstadBusiness Operations Insider and Senior Writer
Sally Herigstad, an authority on all things finance and taxation, is the author of Help! I Can't Pay My Bills: Surviving a Financial Crisis. As a certified public account, a member of AICPA and a tax software developer, Herigstad has spent decades guiding business owners and others through complex tax laws, debt resolution, financial planning and more. Over the course of her career, Herigstad has served as a subject matter expert for Microsoft's TaxSaver, MSN Money and Microsft Money, and contributed insights and teachings through LendingTree, The Motley Fool, Bankrate, U.S. News & World Report,, TaxAct and For, she spent 10 years helming the "To Her Credit" column, in which she answered reader questions on an assortment of financial matters.
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