Spreadsheet: f3906e7f-1894-43ef-b1a7-90c2d0fe56e7
Sheet: Sheet1

Core Indicators | 2007 | 2008 | 2009
Debt
SME loans/bank loans1, 2 | 0.3382578190622066 | 0.3132928118393234
Long term bank loans | 0.693 | 0.692
Short term bank loans | 0.307 | 0.308
Government guaranteed loans ($billions) 3 | 14.5 | 12.8 | 9.3
Direct government loans | Not Applicable | Not Applicable | Not Applicable
Loans authorized/requested4 | Not Available | Not Available | Not Available
Non performing loans5 | 1.2225 | 1.885 | 3.425
Credit terms6
Interest (Fixed rate loans by loan size)
Less than $100,000 | 8.4025 | 7.0625
$100,000 - $499,000 | 7.952500000000001 | 6.24
$500,000 - $999,999 | 7.615 | 5.6225
Collateral | checking into this
Trade credit ($billions) 7 | 2313 | 2162.3
Capital Leases 8 | 20.2 | Not Available
Debt/Asset9 | 0.2546314747124048 | 0.2796844483590548
Equity
Business angels ($[NAME] | 26 | 19.2 | $ 9.1 (first 2 quarters)
Venture capital ($[NAME] | 30.8 | 28.7 | 16.3
Equity/asset12 | 0.7453685252875952 | 0.7203155516409452
Other
Payment delays13 | Not Available | Not Available | Not Available
Incidence of insolvency14 | 28130 | 42861
1 Source: U.S. Small Business Administration, Office of Advocacy, Small Business Lending in the United States, various years, and speical tabulations of the June 2008 Call Reports (Consolidated Reports of Condition and Income for U.S. Banks and thrift instistutions prepared for the Office of Advocacy by [NAME], Texas A&M University, College Station, Texas.
2 Note: These percentages are calculated based on the size of loan (under $1 million is considered small), which is a proxy for SME loans.  Loan data are not collected by firm size.  These numbers include only banks and thrifts and do not include other financial institutions such as finance companies.  Other types of personal loans, such as home equity lines of credit, auto loans, etc. used for the business will not be captured in these data.  Long term vs. short term are based on Flow of Funds data from Federal Reserve on nonfinancial corporations.
3 This is proxied by the Small Business 7(a) loan program, which are are the most basic and most commonly used type of loans. They are also the most flexible, since financing can be guaranteed for a variety of general business purposes, including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions). Loan maturity is up to 10 years for working capital and generally up to 25 years for fixed assets.
4 Data on the supply side are not available.  There are demand side surveys, which provide some data on loan denials, but not for all small businesses nor for the years 2007, 2008, or 2009.
5 Nonperforming SME loans is proxied by the following: annual average of delinquent loans (those past due thirty days or more and still accruing interest as well as those in nonaccrual status) measured as a percentage of end-of-period loans and are C&I loans made by commercial banks only and are of all loan sizes. Source: Federal Reserve Board. 2009 data is for first two quarters only.
6 Source: U.S. Small Business Administration, Office of Advocacy, from data provided by the Federal Reserve Board, Survey of Terms of Lending, Statistical Release E.2, various issues, and special tablulations prepared by the Federal Reserve Board.  From the SBA report:  Most lenders indicated increasing rate spreads on new loans throughout 2008, as well as tightening terms of small business lending (as reported in the FRB Senior Loan Officer Opinion Survey). Thus, the smaller group of successful borrowers in 2008 had to have higher credit quality and lower risk than the successful borrowers of 2007. The lower rates charged to small businesses in 2008 should not be interpreted as an indication of an adequate supply of credit to small firms. Rather, lower small business loan rates in 2008 are related to lack of information about the rate spreads or premiums charged by lenders for adjustable-rate loans. It is likely, therefore, that the rate declines observed in 2008 reflected declines in the index rate that exceeded increases in the rate premiums charged by lenders. In fact, the rate spreads between the smallest loans ($10,000 to $99,000) and minimal-risk loans increased significantly for fixed-rate loans, to 4.33
percent compared with a range of 2 to 3 percent reported in the surveys for February, May, and August 2008. Moreover, new estimates of rates for loans under $10,000 show that rates for this group were much higher than for the next larger loan size ($10,000 to under $100,000).  Annual averages from quarterly data.
7 Trade Credit is proxied by trade payments in the Flow of Funds data from the Federal Reserve Board and includes both nonfinancial corporations (many of which are not small) and nonfarm non corporations (most of which are small).
8 Capital leases are proxied by data for all firms provided by the Annual Capital Expenditures Survey.  Data are not broken out by firm size.
9 Proxied by amounts outstanding at end of period by Flow of Funds at the Federal Reserve Board. Includes nonfinancial corporations (many of which are not small) and nonfarm non corporations (most of which are small)
10 Source: Center for Venture Research. These data are not broken out by size of firm receiving [NAME]
11 Source: PriceWaterhouseCoopers/Venture Capital Association/Money Tree Survey.  These data are not broken out by size of the firm receiving VC funding.
12 This is equal to one minus the debt/asset ratio.
13 Data on payment delays could be available for credit cards and supplier credit, but not by firm size. This indicator should be highly correlated with nonperforming loans
14 Source:  Administrative Office of the U.S. Courts: Business Bankruptcy Filings (Chapters 7,11,12,13). Number includes all firms as bankruptcies are not provide by firm size.