Report
The Great Recalibration
Published August 13, 2025
Commercial Commercial Insights Credit & Economic Trends Economic & Market Insights
U.S. small businesses are demonstrating exceptional adaptability amid a complex post-pandemic economic environment. Inflation remains elevated above 3%, interest rates are steady between 4.25% and 4.50%, and global trade dynamics continue to introduce volatility. Despite these pressures, small firms are showing resilience, driven by improved digital capabilities, disciplined fiscal management, and a steady flow of entrepreneurial activity.
In Q2 2025, an average of 447,000 new business applications were filed, with significant contributions from minority and younger founders. The Experian Small Business Index™ held steady, credit conditions remained tight. Traditional lenders continued to restrict approvals, with just 13% of applications approved by large banks. In response, small businesses increasingly turned to fintech and embedded finance solutions for faster, data-driven access to capital.
Borrowing behaviors are shifting. The average small business credit card APRs now exceed 25%, firms are transitioning toward installment loans that offer structured repayment terms.
Download report
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Thank you
Your report should open up in a new window.
Webinar
From SBFE Data to Growth Intelligence: Strategies for Smarter Small Business Lending
Learn how SBFE data and Experian's analytical capabilities help lenders drive growth and improve decisioning.
- 20M+ small businesses and 110M+ accounts are represented in SBFE data, giving lenders significantly broader credit visibility than internal data alone.
- Nearly 40% of new commercial credit activity is coming from businesses less than 1 year old, highlighting the importance of building credit visibility early.
- AI is a top priority for 50% of banking leaders, but the webinar stressed that AI success depends on high-quality, validated, and enriched data.
Report
2026 State of Telecommunications Report
Telecom providers are operating in a mature market where customer behavior and credit trends are shaping performance. This report explores how those shifts influence outcomes across the lifecycle, including:
- Early-stage delinquency and payment behavior
- Acquisition and upgrade exposure
- Alternative data, including ITIN populations
- Lifecycle drivers of long-term performance
Report
2026 State of fintech report
Read the latest State of Fintech Report to see strategy playbook fintechs are implementing in 2026 and beyond. Key insights include:
- How fintech leaders are balancing growth, fraud risk and portfolio performance
- Why data strategy is becoming a competitive advantage in credit decisioning
- How identity, credit and behavioral signals are enabling smarter lifecycle decisions
- Practical actions fintech organizations can take to grow with confidence in 2026