- Former Military Intelligence Officer: Nashville Bombing ‘Chilling’ and Unusual
By Zachary Stieber
The way the Christmas Day bombing in Nashville was carried out was both chilling and atypical, a former military intelligence officer said.
“I’ve never seen ...
- Trump Should Call Military Tribunal to Investigate Foreign Election Interference: Former Senate Candidate
By Cathy Zhang
Former South Carolina senatorial race candidate Bill Bledsoe called on President Donald Trump to order the establishment of a military tribunal to ...
- GOP Lawmaker Sues Pence to Give Him ‘Exclusive Authority’ to Overturn Election Results
By Jack Phillips
Rep. Louie Gohmert (R-Texas) filed a lawsuit against Vice President Mike Pence in a bid to overturn the election results, asking a court to ...
- Trump Lawyer Says DOJ Should Have Investigated Voter Fraud Allegations: ‘Something Can Still Be Done’
By Jack Phillips
One of President Donald Trump’s attorneys on Monday said the Department of Justice (DOJ) should have done more in investigating election fraud ...
- Nashville Bomber’s Motivation Remains a Mystery; Residents Were Warned for an Hour
By Petr Svab
In the early hours of Christmas Day, Anthony Quinn Warner parked a motorhome in front of the AT&T network center on Second ...
- Georgia Makes Early Ballot Counting Mandatory in Jan. 5 Runoff
By Charlotte Cuthbertson
The upcoming runoff elections in Georgia will operate in the same manner as the Nov. 3 election, except for one minor change, ...
- Trump Signs $2.3 Trillion Relief and Spending Bill, Says More Money to Come
By Janita Kan
President Donald Trump on Sunday evening signed the $2.3 trillion pandemic relief and spending bill after reaching an agreement with Congress over stimulus checks, ...
- High School Student Sues Over Leftist ‘Indoctrination’ in Nevada
By Matthew Vadum
A high school senior of mixed race is suing a taxpayer-funded charter school in Nevada over the “coercive, ideological indoctrination” that is central to ...
- Romney Says He Opposes $2,000 Stimulus Check Suggested by Trump
By Jack Phillips
Sen. Mitt Romney (R-Utah) said he opposes raising the stimulus check amount in the COVID relief package to $2,000 from $600, as suggested by ...
- Trump: Increase Payments to Americans, and ‘Get Rid of the Pork’
By Jack Phillips
President Donald Trump again demanded that Congress increase direct payments and get rid of non-pandemic-related measures in the latest stimulus bill.
“Increase payments to the ...
- Estimate: Millions Lost Benefits as Congress Failed to Meet Trump Demand for $2,000 Stimulus Checks
By Ivan Pentchoukov
Millions of people lost federal unemployment benefits on Saturday as Congress failed to meet President Donald Trump’s demand for $2,000 stimulus checks to be ...
- New York Democratic Party Chief Warns Ocasio-Cortez Not to Challenge Schumer
By Jack Phillips
The head of New York state’s Democratic Party said Rep. Alexandria Ocasio-Cortez (D-N.Y.) should not challenge Senate Minority Leader Chuck Schumer (D-N.Y.).
“I think it would be a primary ...
![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 | USNN World News")
