Community banks still tops for small biz: Fed survey

Community banks remain the most highly favored lender by small businesses, according to the Federal Reserve Banks' latest Small Business Credit Survey.

The survey found that 79 percent of community bank small-business loan applicants were satisfied with their experience, compared with 66 percent at large banks, 63 percent at finance companies, and 54 percent at online lenders.

Further, community banks' net satisfaction score of 73 percent continued to lead as it has in recent years, topping large banks by 15 points, finance companies by 23 points, and online lenders by 36 points.