- New York cancels presidential primary, citing coronavirus, after Sanders camp asked to stay on ballot
By Morgan Phillips, Paul Steinhauser | Fox News
New York has canceled its Democratic presidential primary for the first time ever due to the coronavirus pandemic — igniting a backlash from supporters ...
- Potential Biden running mates not asked about sex assault allegation
By Brian Flood | Fox News
Two prominent, female Democratic vice-presidential front-runners appeared on three national political shows Sunday morning and neither were asked about explosive allegations against their ...
- Former Clinton adviser calls on Biden to withdraw over assault allegations
By Marisa Schultz | Fox News
Peter Dauo, a political activist and one-time fierce Hillary Clinton backer, urged former Vice President Joe Biden to end his presidential bid over new developments in the ...
- Biden accuser Tara Reade ‘lost total respect’ for CNN’s Anderson Cooper for not asking former VP about assault claim
By Joseph A. Wulfsohn | Fox News
The woman who has accused Joe Biden of a sexual assault in the early 1990s says she’s disappointed that CNN anchor Anderson Cooper failed to ask the presumptive ...
- High profile inmates from Michael Avenatti to Tekashi 6ix9ine who have been released from prison early because of coronavirus
By Barnini Chakraborty | Fox News
From 71-year-old federal fraudsters to Colombian drug lords, there has been a mad dash of high-profile prisoners petitioning the courts for a ...
- Journalist Rich McHugh lays out allegations against Biden: ‘She said he attacked her’
By Victor Garcia | Fox News
Tucker Carlson spoke with journalist Rich McHugh Friday to get his insight into newly- resurfaced video from 1993 that could support sexual misconduct allegations ...
- ‘The View’ ignores Tara Reade’s Biden allegations after championing Kavanaugh accusers
By Joseph A. Wulfsohn | Fox News
“The View” hosts Whoopi Goldberg, Joy Behar, Sunny Hostin, and Meghan McCain have been sounding off regularly on President Trump’s response ...
- Clip surfaces of Biden accuser Tara Reade’s mother phoning into ‘Larry King Live’ in 1993 alluding to claim
By Joseph A. Wulfsohn | Fox News
A resurfaced clip on “Larry King Live” in 1993 appears to show the mother of Tara Reade — who has accused Joe ...
- Georgia state rep who endorsed Trump reverses resignation, calls Dems ‘the bigots they claim to hate’
By Sam Dorman | Fox News
A Democratic Georgia lawmaker has reversed an initial decision to step down from office after facing backlash for endorsing President Trump for reelection last week.
“Yesterday, I announced ...
- Dem lawmakers eye ‘opportunity’ for historic expansion of government amid coronavirus crisis
By Adam Shaw | Fox News
Former Obama White House Chief of Staff Rahm Emanuel said during the 2008 financial crisis that lawmakers should “never let a crisis go to ...
- Former Reagan official: Revive Cold War-era program to keep China from benefiting from coronavirus
By Ronn Blitzer | Fox News
A former intelligence official from the Reagan administration is concerned that China is using the shutdown of the American economy during the coronavirus pandemic to ...
- Protests against coronavirus lockdown orders spread in North Carolina, Missouri: ‘My rights are essential’
By Andrew O’Reilly | Fox News
Angry demonstrators took to the streets in North Carolina and Missouri on Tuesday to voice their discontent at their states’ stay-at-home ...
![Small businesses in the United States encountered growing challenges accessing credit in June, according to Equifax’s latest small-business lending index. Lending volumes fell by 3.3 percent month over month, although they remained up by more than 2 percent from the same period in 2024, according to the report released on Aug. 18. The index’s three-month moving average jumped to 1 percent, fueled by robust lending activity volumes in April that have since eroded. Story continues below advertisement Regionally, 23 states experienced year-over-year declines in 12-month rolling lending volumes, with California (minus 10 percent), Nevada (minus 9 percent), and Georgia (minus 6 percent) leading the decline. Across industries, nominal (noninflation-adjusted) lending decreased in six of the 17 sectors tracked. Accommodation and food services experienced the sharpest decline, while construction, finance and insurance, and retail lending remained stable. Credit conditions showed signs of stabilization in the wake of President Donald Trump’s tariff agenda, the report reads. Related Stories Treasury Department Releases New Guidance Restricting Wind, Solar Tax Credits The Epoch Times Buy Now, Pay Later Is Just Credit, Not a Crisis The Epoch Times The small-business delinquency index (31 to 90 days past due) edged up by nearly 2 percent, or three basis points, from May. The index was little changed from June 2024. Additionally, the default index fell by more than 3 percent, down by seven basis points month over month. Despite national improvements, 34 states reported year-over-year increases in default rates. Maine stood out with a 35 percent spike, the highest in the country. Delinquency rates rose or held steady in five industries, with wholesale trade posting the largest monthly increase of 2 percent. In the coming months, a boost to small-business lending is expected to unfold in the third and fourth quarters. Wall Street overwhelmingly anticipates that the Federal Reserve will lower interest rates beginning in September. The Fed’s periodic Summary of Economic Projections—a survey of policymakers’ expectations for the economy and interest rates in the future—points to two rate cuts this year. The federal funds rate—a key policy rate that influences business, consumer, and government borrowing costs—has been unchanged in a target range of 4.25 percent to 4.5 percent since January. Story continues below advertisement However, although a rate cut is considered a boon for the credit industry, the report states that easing monetary policy could “exacerbate inflationary pressures.” Last week, the annual inflation rate for July came in at 2.7 percent for the second straight month, lower than the market’s estimate of 2.8 percent. However, key pipeline inflation indicators—the producer price index and import prices—topped economists’ expectations, signaling that the current administration’s trade agenda could be igniting renewed price pressures. The U.S. central bank will host its annual Jackson Hole Economic Symposium from Aug. 21 to Aug. 23, with Fed Chairman Jerome Powell delivering the keynote address on Aug. 22. Lenders Signal Optimism Despite the slowdown in small-business lending, a recent industry survey suggests that lenders remain optimistic, citing improved business conditions. The Federal Reserve in Washington on July 21, 2025. (Madalina Kilroy/The Epoch Times) The Federal Reserve in Washington on July 21, 2025. Madalina Kilroy/The Epoch Times According to the American Financial Services Association’s latest consumer credit conditions index for the second quarter, shared with The Epoch Times, the business environment was positive on balance. In the April–June period, the net increasing index—a measure spotlighting the difference between the percentage of lenders who said loan performance conditions got better and those who said they got worse—reached the highest level in the survey’s six-quarter history. In addition, 26 percent more respondents reported that funding costs improved in the second quarter than those who said they worsened. Meanwhile, 18 percent reported an improvement in the performance of their outstanding loans, compared with those who said it worsened. Despite broad-based improvements, more auto lenders reported that business conditions weakened in the second quarter than those who reported improvements. Auto lenders also anticipate weaker overall conditions over the next six months. Caution Ahead Demand for loans from commercial and industrial companies has weakened, according to the New York Fed’s Senior Loan Officer Opinion Survey on bank lending. Banks, according to the report, also found weaker demand for credit and other loans from consumers. Despite slowing credit demand, the findings indicated that credit supply through banking lending standards had not tightened significantly. Bipan Rai, managing director at BMO, said that ultimately, the latest figures reveal both the good and the bad. “Empirically, we know that a deterioration in the credit cycle is consistent with a general slowing of the real economy,” Rai said in an Aug. 11 note. “A silver lining in the [Senior Loan Officer Opinion Survey] release is that credit supply ... has not tightened materially. Typically, a slowing in the credit cycle would be more concerning if falling demand came as a result of tighter lending standards.” Although the trade situation has stabilized since the April peak of uncertainty, businesses and consumers are seeking greater policy clarity, a recent survey highlighted. The American Bankers Association’s latest credit conditions index—a quarterly outlook for credit markets—declined for the second consecutive quarter. The headline reading came in at 32.1—anything lower indicates expected deterioration—and the index fell to 35.7 for businesses and 28.6 for consumers. Trade negotiations and passage of the One Big Beautiful Bill Act have offered some reassurance, but tariff-related uncertainty is still a headwind for credit conditions and the broader economy, according to Sayee Srinivasan, the association’s chief economist. “'Hard data’ suggest the economy remains on solid footing, but consumer and business sentiment indicate that policy uncertainty remains elevated and is causing some firms and households to adopt a cautious approach to hiring, spending and investment,” Srinivasan said in the report. The White House recently imposed higher reciprocal tariffs, ranging from 10 percent to 50 percent, on almost 70 U.S. trading partners. The president is expected to announce tariffs on imports of chips, semiconductors, and pharmaceuticals soon. Story continues below advertisement Still, small-business optimism has improved and is above the National Federation of Independent Business’s long-term average. Bill Dunkelberg, the group’s chief economist, said that uncertainty persists but business owners are “reporting more positive expectations on business conditions and expansion opportunities.”](https://www.usnn.news/wp-content/uploads/2025/08/Small-Business-Lending-Faces-Mixed-Signals-Amid-Economic-Shifts-jpg.webp "Small-Business Lending Faces Mixed Signals Amid Economic Shifts 8")
