Form FR 2028D FR 2028D Small Business Lending Survey

FR 2028D
OMB Number 7100-0061
Approval expires July 31, 2020
Page 1 of 8

Board of Governors of the Federal Reserve System

Small Business Lending Survey—FR 2028D

For the quarter ending,
Month / Day / Year (QSBL 9999)

This report is authorized by law (12 U.S.C. § 248(a)(2)). Your
voluntary cooperation in submitting this report is needed to make
the results comprehensive, accurate, and timely.

The Federal Reserve may not conduct or sponsor, and an organization is not required to respond to, a collection of information
unless it displays a currently valid OMB Number.

Loan Volumes and Terms
QSBL Yes
1. Does your bank use more than one base rate for Commercial & Industrial (C&I) loans to U.S. small
businesses? If Yes, skip to question 3. If No, complete question 2............................................... HP48

2. What is your base rate? (check only one)

No

1.

QSBL HP49

2.

Prime rate................................................................................................................................
Libor .......................................................................................................................................
Federal Home Loan Bank rate .....................................................................................................
U.S. Treasury rate .....................................................................................................................
Proprietary rate .........................................................................................................................
Other rate ................................................................................................................................
3. Select and rank the three most common base rates by dollar volume of C&I loans.
If only two rates are used, leave "3rd Most Common" empty.
If multiple "Other" rates are used, consider all of these as "Other Rate" when determining the most common rates.

QSBL

a. Most common .............................. HP50
b. Second most common ................... HP51
c. Third most common....................... HP52

Prime
Rate

Libor

Federal Home
Loan Bank
Rate

U.S.
Treasury
Rate

Proprietary
Rate

Other
Rate

3.a.
3.b.
3.c.

The ongoing public reporting burden for this information collection is estimated to average 1.5 hours per response, including time to gather and maintain data in the required form and to
review instructions and complete the information collection. Comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing
the burden, may be sent to Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets, NW, Washington, DC 20551, and to the Office of Management and Budget,
Paperwork Reduction Project (7100-0061), Washington, DC 20503.

12/2017

FR 2028D
Page 2 of 8

Loan Volumes and Terms—Continued
To U.S. small businesses as of the last calendar day of the most recent calendar quarter.
U.S. Dollar Amounts in Thousands QSBL
4. Outstanding Term C&I Loans
a. Number .....................................................................................
b. Outstanding dollar amount ............................................................
c. Weighted average interest rate ......................................................
d. Weighted average base rate ..........................................................
e. Weighted average maturity............................................................
f. Maximum maturity .......................................................................
g. Number secured .........................................................................
h. Dollar amount secured.................................................................
i. Number with SBA guarantees ......................................................
j. Dollar amount with SBA guarantees..............................................
k. Number with other guarantees .......................................................
l. Dollar amount with other guarantees ...............................................
m. Number with interest rate floor .......................................................
n. Number at interest rate floor ..........................................................
o. Dollar amount at interest rate floor ..................................................
p. Weighted average interest rate floor ................................................
5. Outstanding C&I Loans Made Under Commitment (Formal or Informal)
a. Number .....................................................................................
b. Commitment dollar amount ...........................................................
c. Outstanding dollar amount ............................................................
d. Weighted average interest rate ......................................................
e. Weighted average base rate..........................................................
f. Number secured .........................................................................
g. Dollar amount secured .................................................................
h. Number with SBA guarantees ......................................................
i. Dollar amount with SBA guarantees..............................................
j. Number with other guarantees .....................................................
k. Dollar amount with other guarantees .............................................
l. Number with interest rate floor .......................................................
m. Number at interest rate floor ..........................................................
n. Dollar amount at interest rate floor ..................................................
o. Weighted average interest rate floor................................................

Fixed Rate

QSBL

HP53
HP54
HP55
HP56
HP57
HP58
HP59
HP60
HP61
HP62
HP63

HP65
HP66
HP67
HP68
HP69
HP70
HP71
HP72
HP73
HP74
HP75

HP64

HP76
HP77
HP78
HP79
HP80

HP81
HP82
HP83
HP84
HP85
HP86
HP87
HP88
HP89
HP90
HP91

HP92
HP93
HP94
HP95
HP96
HP97
HP98

Variable Rate

4.a.
4.b.
4.c.
4.d.
4.e.
4.f.
4.g.
4.h.
4.i.
4.j.
4.k.
4.l.
4.m.
4.n.
4.o.
4.p.

5.a.
5.b.
5.c.
5.d.
5.e.
5.f.
5.g.
5.h.
5.i.
5.j.
5.k.
5.l.
5.m.
5.n.
5.o.

HP99
HQ00
HQ01
HQ02
HQ03
HQ04
HQ05
HQ06

To U.S. small businesses during the most recent calendar quarter.
U.S. Dollar Amounts in Thousands QSBL
6. Net Drawdowns on C&I Commitments (Formal or Informal)
a. Net drawn dollar amount .............................................................. HQ07
7. New Term C&I Loans
a. Number .....................................................................................
b. Outstanding dollar amount ............................................................
c. Weighted average interest rate ......................................................
d. Weighted average base rate..........................................................
e. Weighted average maturity ...........................................................
f. Maximum maturity .......................................................................
g. Number secured .........................................................................
h. Dollar amount secured.................................................................
i. Number with SBA guarantees ......................................................
j. Dollar amount with SBA guarantees..............................................

HQ09
HQ10
HQ11
HQ12
HQ13
HQ14
HQ15
HQ16
HQ17
HQ18

Fixed Rate

QSBL

Variable Rate

HQ08

6.a.

HQ21
HQ22
HQ23
HQ24
HQ25
HQ26
HQ27
HQ28
HQ29
HQ30

7.a.
7.b.
7.c.
7.d.
7.e.
7.f.
7.g.
7.h.
7.i.
7.j.

12/2017

FR 2028D
Page 3 of 8

Loan Volumes and Terms—Continued
U.S. Dollar Amounts in Thousands QSBL

Fixed Rate

7. New Term C&I Loans–continued
k. Number with other guarantees ..................................................... HQ19
l. Dollar amount with other guarantees ............................................. HQ20
m. Number with interest rate floor .....................................................
n. Number at interest rate floor........................................................
o. Dollar amount at interest rate floor ................................................
p. Weighted average interest rate floor .............................................

QSBL

Variable Rate

HQ31
HQ32
HQ33
HQ34
HQ35
HQ36

7.k.
7.l.
7.m.
7.n.
7.o.
7.p.

QSBL Yes
8. During the most recent calendar quarter, did the bank make new term C&I Loans with SBA
guarantees to U.S. small businesses that were sold but the bank is still servicing? ..................... HP37
If Yes, complete question 9.
If No, skip to question 10.

No

8.

To U.S. small businesses that were made and sold during the most recent calendar quarter and that the bank is servicing.
U.S. Dollar Amounts in Thousands
9. New Term C&I Loans with SBA Guarantees
a. Number ...................................................................................
b. Sold dollar amount ....................................................................
c. Weighted average interest rate ....................................................
d. Weighted average base rate........................................................
e. Weighted average maturity .........................................................
f. Maximum maturity .....................................................................

QSBL

Fixed Rate

QSBL

Variable Rate

HQ38
HQ39
HQ40
HQ41
HQ42
HQ43

9.a.
9.b.
9.c.
9.d.
9.e.
9.f.

To U.S. small businesses during the most recent calendar quarter.
U.S. Dollar Amounts in Thousands
10. New C&I Loans Made Under Commitment (Formal or Informal)
a. Number...................................................................................
b. Commitment dollar amount .........................................................
c. Outstanding dollar amount ..........................................................
d. Weighted average interest rate ....................................................
e. Weighted average base rate........................................................
f. Number secured .......................................................................
g. Dollar amount secured ...............................................................
h. Number with SBA guarantees ....................................................
i. Dollar amount with SBA guarantees............................................
j. Number with other guarantees ...................................................
k. Dollar amount with other guarantees ...........................................
l. Number with interest rate floor .....................................................
m. Number at interest rate floor ........................................................
n. Dollar amount at interest rate floor ................................................
o. Weighted average interest rate floor..............................................

QSBL

Fixed Rate

QSBL

HQ44
HQ45
HQ46
HQ47
HQ48
HQ49

HQ55
HQ56
HQ57
HQ58
HQ59
HQ60

HQ50
HQ51
HQ52
HQ53
HQ54

HQ61
HQ62
HQ63
HQ64
HQ65
HQ66
HQ67
HQ68
HQ69

Variable Rate

10.a.
10.b.
10.c.
10.d.
10.e.
10.f.
10.g.
10.h.
10.i.
10.j.
10.k.
10.l.
10.m.
10.n.
10.o.

12/2017

FR 2028D
Page 4 of 8

Credit Line Usage
11. In your opinion, apart from normal seasonal variation, how has U.S. small business C&I credit line usage changed during
the most recent calendar quarter? (check only one)
QSBL HQ70

11.

Increased substantially ...........................................................................................................
Increased somewhat ..............................................................................................................
Remained basically unchanged ................................................................................................
Decreased somewhat ............................................................................................................
Decreased substantially..........................................................................................................
12. If credit line usage has changed during the most recent calendar quarter (as described in question 11), how important have
been the following possible reasons for the change?
QSBL

a.
b.
c.
d.

Change in terms of lending .........................................
Change in pricing (rates, fees, etc.)...............................
Change in local or national economic conditions ..............
Change in borrower's business revenue or other
business specific conditions ........................................

Not
Important

Somewhat
Important

Very
Important

HQ71
HQ72
HQ73

12.a.
12.b.
12.c.

HQ74

12.d.

Loan Demand and Applications
13. In your opinion, apart from normal seasonal variation, how has demand for U.S. small business C&I loans changed during
the most recent calendar quarter? (check only one)
QSBL HQ75

13.

Substantially stronger.............................................................................................................
Moderately stronger ...............................................................................................................
Remained basically unchanged ................................................................................................
Moderately weaker ................................................................................................................
Substantially weaker ..............................................................................................................

For U.S. small business C&I loans during the most recent calendar quarter.

U.S. Dollar Amounts in Thousands QSBL
14. Applications Received and Approved
a. Number ................................................................................... HQ76
b. Dollar amount ........................................................................... HQ77

Applications
Received

QSBL

Applications
Approved

HQ78
HQ79

14.a.
14.b.

QSBL Yes
15. Does your bank track lending in low and moderate income (LMI) tracts for Community
Reinvestment Act (CRA) purposes or voluntarily for other reasons?......................................... HQ80
If Yes, complete question 16. If No, skip to question 17

No

15.

For U.S. small business C&I loans during the most recent calendar quarter.
U.S. Dollar Amounts in Thousands QSBL
16. LMI Applications Received and Approved
a. Number................................................................................... HQ81
b. Dollar amount........................................................................... HQ82

LMI Applications
Received

QSBL
HQ83
HQ84

LMI Applications
Approved

16.a.
16.b.

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FR 2028D
Page 5 of 8

Loan Demand and Applications—Continued
17. Select and rank the top three reasons for denying a U.S. small business C&I loan during the most recent calendar quarter.

QSBL

Financials

Collateral

Supervisory or
Regulatory
Requirements;
Owner Equity Management Concerns About Did Not Meet
Credit History Investment
Experience
Business Plan SBA Guidelines

Reduced Risk
Tolerance
of Bank
Management

Concentration
Limits; Industry
Exposure

a. Most common.................... HQ85
b. Second most common......... HQ86
c. Third most common ............ HQ87

17.a.
17.b.
17.c.

Credit Standards and Terms
18. In your opinion, how have your credit standards for C&I loans to U.S. small business changed over the
most recent calendar quarter? (check one only)
QSBL HQ88

18.

Tightened considerably........................................................................................................................................................................
Tightened somewhat...........................................................................................................................................................................
Remained basically unchanged .............................................................................................................................................................
Eased Somewhat ...............................................................................................................................................................................
Eased considerably ............................................................................................................................................................................
19. In your opinion, how have your terms of C&I loans to U.S. small businesses changed over the
most recent calendar quarter?
Tightened
QSBL Considerably

a.
b.
c.
d.
e.
f.
g.
h.
i.

Maximum size of credit lines......................................................................................
Maximum maturity of loans and credit lines ..................................................................
Costs of credit lines .................................................................................................
Spreads of loan rates over the bank's cost of funds
(wider spreads=tightened, narrower spreads=eased)......................................................
Premiums charged on riskier loans .............................................................................
Loan covenants ......................................................................................................
Collateral requirements ............................................................................................
Use of interest rate floors (more use=tightened, less use=eased)......................................
Level of interest rate floors (higher=tightened, lower=eased) ............................................

Tightened
Somewhat

Remained
Basically
Unchanged

Eased
Somewhat

Eased
Considerably

HQ89
HQ90
HQ91

19.a.
19.b.
19.c.

HQ92

19.d.
19.e.
19.f.
19.g.
19.h.
19.i.

HQ93
HQ94
HQ95
HQ96
HQ97

12/2017

FR 2028D
Page 6 of 8

Credit Standards and Terms—Continued
20. If your bank has tightened its credit standards or its terms for C&I loans to U.S. small businesses over the most
recent calendar quarter (as described in questions 18 and 19), how important have been the following possible reasons
for the change?

QSBL

Possible reasons for tightening credit standards or loan terms
a. Deterioration in your bank's current or expected
capital position...........................................................
b. Less favorable or more uncertain economic outlook ..........
c. Worsening of industry-specific problems .........................
d. Less aggressive competition from other banks .................
e. Less aggressive competition from nonbank lenders ...........
f. Reduced tolerance for risk............................................
g. Decreased liquidity in the secondary market for
these loans ...............................................................
h. Deterioration in your bank's current or expected
liquidity position .........................................................
i. Increased concerns about the effects of legislative changes
supervisory actions, or changes in accounting standards,
both past and expected ...............................................

Not
Important

Somewhat
Important

Very
Important

HQ98

HR01
HR02
HR03

20.a.
20.b.
20.c.
20.d.
20.e.
20. f.

HR04

20.g.

HR05

20.h.

HR06

20.i.

HQ99
HR00

21. If you indicated two or more reasons are "very important" in question 20 and one of the reasons is the most important,
please identify the most important reason. (check only one)
Most
Important
QSBL HR16

21.

Possible reasons for tightening credit standards or loan terms
Deterioration in your bank's current or expected
capital position.......................................................................................................................
Less favorable or more uncertain economic outlook ......................................................................
Worsening of industry-specific problems .....................................................................................
Less aggressive competition from other banks .............................................................................
Less aggressive competition from nonbank lenders .......................................................................
Reduced tolerance for risk .......................................................................................................
Decreased liquidity in the secondary market for
these loans ...........................................................................................................................
Deterioration in your bank's current or expected
liquidity position .....................................................................................................................
Increased concerns about the effects of legislative changes
supervisory actions, or changes in accounting standards,
both past and expected ...........................................................................................................

12/2017

FR 2028D
Page 7 of 8

Credit Standards and Terms—Continued
22. If your bank has eased its credit standards or its terms for C&I loans to U.S. small businesses over
the most recent calendar quarter (as described in questions 18 and 19), how important have been the following
possible reasons for the change?
QSBL

Possible reasons for easing credit standards or loan terms
a. Improvement in your bank's current or expected
capital position...........................................................
b. More favorable or less uncertain economic outlook ...........
c. Improvement in industry-specific problems ......................
d. More aggressive competition from other banks.................
e. More aggressive competition from nonbank lenders ..........
f. Increased tolerance for risk ..........................................
g. Increased liquidity in the secondary market for
these loans ...............................................................
h. Improvement in your bank's current or expected
liquidity position .........................................................
i. Reduced concerns about the effects of legislative
changes, supervisory actions, or changes in
accounting standards, both past and expected .................

Not
Important

Somewhat
Important

Very
Important

HR07

HR10
HR11
HR12

22.a.
22.b.
22.c.
22.d.
22.e.
22.f.

HR13

22.g.

HR14

22.h.

HR15

22.i.

HR08
HR09

23. If you indicated two or more reasons are "very important" in question 22 and one of the reasons is the most important,
please identify the most important reason. (check only one)
Most
Important
QSBL HR17

23.

QSBL HR18

24.

Possible reasons for easing credit standards or loan terms
Improvement in your bank's current or expected
capital position ......................................................................................................................
More favorable or less uncertain economic outlook .......................................................................
Improvement in industry-specific problems ..................................................................................
More aggressive competition from other banks .............................................................................
More aggressive competition from nonbank lenders ......................................................................
Increased tolerance for risk ......................................................................................................
Increased liquidity in the secondary market for
these loans ...........................................................................................................................
Improvement in your bank's current or expected
liquidity position .....................................................................................................................
Reduced concerns about the effects of legislative
changes, supervisory actions, or changes in
accounting standards, both past and expected .............................................................................

Credit Quality of Applicants
24. In your opinion, how has the credit quality of U.S. small business applicants changed over the most recent
calendar quarter? (check only one)
Improved substantially.............................................................................................................
Improved somewhat...............................................................................................................
Remained basically unchanged .................................................................................................
Declined somewhat ................................................................................................................
Declined substantially .............................................................................................................

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FR 2028D
Page 8 of 8

Credit Quality of Applicants—Continued
25. If the credit quality of small business applicants has changed over the most recent calendar quarter (as described in
question 24), how important have been the following possible factors for the change?

QSBL
a. Credit scores............................................................. HR19
b. Quality of business collateral ........................................ HR20
c. Quality of personal collateral......................................... HR21

d.
e.
f.
g.
h.
i.

Willingness to pledge personal assets ............................
Personal wealth of business owners ..............................
Debt-to-income level of business owners ........................
Liquidity position of business owners..............................
Recent business income growth ....................................
Prospects for business growth or enterprise values ...........

Not
Important

Somewhat
Important

Very
Important

HR22
HR23
HR24
HR25
HR26
HR27

25.a.
25.b.
25.c.
25.d.
25.e.
25. f.
25.g.
25.h.
25.i.

Special Questions
Special questions may be provided depending on the quarterly period. They will be updated on the online survey as applicable.

12/2017