The Gallup Organization conducted a survey in November-December 2009 for The National Federation of Independent Business Research Foundation (NFIB) of 751 small business employers (employing people 1-250) to help better understand the small business credit crisis.

Below are some of the survey’s key findings (as reported by The Secured Lender:

1. 55% of small businesses attempted to borrow in 2009.
2. 23% of those businesses were not able to have all of their credit needs met (which dropped significantly from earlier in the 2000s when up to 90% of businesses had their credit needs met).
3. The financial institution extending a line of credit changed the terms/conditions of the line(s) during 2009 for 29% of small businesses.
4. The most frequent “change” was increased interest rates for small businesses.
5. The best predictors of success in meeting the credit needs were higher credit scores, customers of banks with less than $100 billion in assets, more properties collateralized for business purposes and fewer second mortgages held.
6. Most common planned purpose of credit rejected was to fill cash flow needs. (SIDE NOTE: Payroll Funding and Invoice Factoring companies are used every day to fill cash flow needs.)