If you run a small business and have ever struggled to get a loan, here’s a quick way to make your experience count.
The Federal Reserve’s 2026 Small Business Credit Survey is now open and accepts responses through Nov. 13. It takes about 10 to 12 minutes.
Who can take it
The survey is open to all for-profit businesses with fewer than 500 employees. That includes companies that are currently operating, businesses that recently closed and people getting ready to launch, according to Hawaii’s state business development office, which is promoting the survey locally.
Responses are confidential, and no personal information is required.
What it asks
The survey covers the current business climate and your experience seeking credit: whether you applied for financing, what kind, whether you were approved, and what challenges you face.
The Fed’s regional banks use the answers to publish national and regional reports. Policymakers, lenders and support organizations draw on them when they design programs that affect small businesses’ access to capital.
What last year’s survey found
The most recent national report, released in March, was based on 6,525 responses from employer firms collected in fall 2025. Among the findings:
- 60% of firms applied for financing in the previous 12 months.
- Of applicants, 42% were fully approved, 36% partly approved and 22% got nothing.
- Expectations for revenue and hiring fell to their lowest levels since the 2020 survey.
- 77% reported rising costs for goods, services or wages, or cost pressure from tariffs.
- 46% were using AI, most often for writing or marketing.
Why it’s worth 12 minutes
Small businesses are often discussed in averages and anecdotes. This survey is one of the few large, recurring sources of data on what owners actually experience when they try to borrow. The more owners who respond, the more accurate the picture — especially for smaller industries and regions that can get lost in national numbers.
You can find the survey link on the Fed’s small business site, fedsmallbusiness.org. Some local business groups and state agencies also share their own versions of the link so they can see results for their area.
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