MIAMI, June 22, 2026 (GLOBE NEWSWIRE) — The Federal Reserve’s newly released 2026 Report on Employer Firms, drawn from the 2025 Small Business Credit Survey, found that 38 percent of small businesses applied for a loan, line of credit, or merchant cash advance in the prior 12 months, a rate nearly unchanged from the 2024 survey. The report also found that full approval rates remained below pre-pandemic levels, and that small business owners are increasingly turning to online lenders for capital, with the share of applicants seeking financing from fintech lenders rising from 17 percent in 2020 to 29 percent in 2025. Applicants who sought financing through small banks were more likely to be fully approved, at 57 percent, than those who applied through other channels.
In response, CredFin, Inc. is offering a free field guide, “They Denied You. They Didn’t Tell You Why,” that walks business owners through the five most common reasons for funding denials and the steps to fix them. The guide is available now at Guide.CredFin.ai.
For Ray Smith, Founder and CEO of CredFin, Inc., the Fed’s data confirms what he has seen firsthand across more than 25 years in financial services and fintech. Smith grew up on a dairy farm in Ludlow, South Dakota, before learning this industry the hard way and building a 60-employee call center and eventually founding CredFin to help business owners navigate a lending system that too often says no without ever explaining why.
“Banks deny. We defy,” said Smith. “Every business owner who has ever made payroll they did not know how to make, or kept the doors open through a season that should have closed them, deserves to know why they got turned down and what it actually takes to get to yes. That is the same grit my family had on the farm, and it is the same grit I see in every small business owner we work with.”
CredFin built its Capital Qualified™ + Lender Match™ System to give business owners a clear, structured path from denial to funding. The platform has already helped thousands of small business owners nationwide understand the real reasons behind funding denials and build the business credit profile lenders are actually looking for, rather than relying on personal credit or guesswork alone.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements based on current expectations and assumptions. These statements involve known and unknown risks and uncertainties that could cause actual results to differ materially. Words such as “may,” “expects,” “positioned,” “designed to,” and similar expressions are intended to identify forward-looking statements. CredFin, Inc. undertakes no obligation to update or revise any forward-looking statements after the date of this release.
DISCLAIMER
CredFin, Inc. is not a lender and does not make credit decisions. The company may, in certain circumstances, introduce business owners to independent third-party financing providers. All financing decisions, terms, and approvals are made solely by those independent providers and are subject to their own underwriting criteria. Participation in the workshop and use of CredFin, Inc.’s advisory services are voluntary and may not be suitable for all businesses. Outcomes vary based on individual business circumstances, creditworthiness, lender criteria, and market conditions, and there is no assurance that any business will obtain financing as a result of participation.
ABOUT CREDFIN, INC.
CredFin, Inc. is a business credit and funding advisory firm headquartered at 1395 Brickell Ave, Ste 800, Miami, FL 33131. The company provides educational resources and advisory services designed to help small business owners understand commercial credit data and prepare for potential financing opportunities. Founded by Ray A. Smith, CredFin integrates data from three business credit bureaus (Dun and Bradstreet, Equifax Business, and Experian Business), the Secretary of State, IRS and various other public databases, to help clients identify areas of their business credit profile that may benefit from correction or improvement. CredFin, Inc. is not a lender and does not provide credit directly. It may introduce clients to independent third-party financing providers whose decisions are made subject to their own underwriting standards.
For more information, visit credfin.ai or the CredFin newsroom at credfin.ai/news.
MEDIA CONTACT
CredFin, Inc.
1395 Brickell Ave, Ste 800
Miami, FL 33131
Email: [email protected]
CredFin.ai | Workshop.CredFin.ai
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