Small businesses were in need in 2020, and their banks came through. We started by asking small businesses about their experiences from the past year—including receiving PPP loans, approvals of line of credit, SBA loans, and equipment/term loans.
How did your trust level of your financial institution change in the last year?
How did your PPP experience change how you perceive your financial institution?
Maintained or gained trust
82%
Lost trust
18%
Mostly
positive
52%
Very
positive
16%
Less
positive
22%
89% of those who had a positive experience said it involved the ability to deliver; 74% said it was their responsiveness
Believe their needs are being met by their current bank
85%
From 1-10, how likely are you to recommend your primary financial institution?
7.06