2026 Firms in Focus: Chartbook on Firms by Revenue Size (Federal Reserve Banks (Small Business Credit Survey))

Summary

• The chartbook presents findings from the 2025 Small Business Credit Survey, fielded from September to November 2025, for employer firms with fewer than 500 employees.p.2
• Shares of firms citing individual operational challenges in the prior 12 months range from 10% to 63% across revenue groups.p.12
• Shares of firms citing individual financial challenges in the prior 12 months range from 30% to 76% across revenue groups.p.13
• Shares of firms that applied for any type of financing in the prior 12 months range from 38% to 63% across revenue groups.p.30
• Shares of firms currently using AI range from 14% to 62% across revenue groups, with the optional AI module answered by approximately 81% of employer firm respondents.p.42

Key insights

1. Shares of firms operating at a profit, at a loss or at break-even range from 22% to 79% across revenue groups.p.7
2. Shares of firms that applied for a loan, line of credit, or MCA range from 37% to 63% across revenue groups.p.35
3. Shares of loan, line of credit, or MCA applicants by credit source range from 6% to 53% across revenue groups.p.37
4. Shares of firms regularly using financing products such as credit cards, loans or lines of credit range from 9% to 68%.p.25
5. Shares of non-applicants citing reasons for not applying range up to 89%.p.32
6. Shares of AI-using firms citing AI-related challenges range from 7% to 52%.p.46