Form FR 2028D FR 2028D Small Business Lending Survey

FR 2028D
OMB Number 7100-0061
Approval expires July 31, 2023
Page 1 of 6

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.

Bank Name (QSBL 9017)

Person to be Contacted Concerning This Report (QSBL 8901)

Address (QSBL 9028)

Area Code / Phone Number (QSBL 8902)

City (QSBL 9130)

State (QSBL 9200)

Zip Code (QSBL 9220)

Loan Volumes and Terms
1. Does your bank use more than one base rate for Commercial & Industrial (C&I) loans to U.S. small QSBL Yes
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 ........................................................................................................................
SOFR ....................................................................................................................................
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

SOFR

Other
Rate

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

The ongoing public reporting burden for this information collection is estimated to average 3 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.

12/2020

FR 2028D
Page 2 of 6

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 maturity..........................................................
e. Maximum maturity .....................................................................
f. Number with interest rate floor .....................................................
g. Dollar amount with interest rate floor .............................................
h. 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. Number with interest rate floor .....................................................
f. Dollar amount with interest rate floor .............................................
g. Weighted average interest rate floor..............................................

Fixed Rate

QSBL

Variable Rate

HP53
HP54
HP55
HP57
HP58

HP65
HP66
HP67
HP69
HP70
HP77
LB24
HP80

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

HP81
HP82
HP83
HP84

HP92
HP93
HP94
HP95
HQ03
LB25
HQ06

5.a.
5.b.
5.c.
5.d.
5.e.
5.f.
5.g.

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 maturity .........................................................
e. Maximum maturity .....................................................................
f. Number with interest rate floor .....................................................
g. Dollar amount with interest rate floor .............................................
h. Weighted average interest rate floor .............................................
8. 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. Number with interest rate floor .....................................................
f. Dollar amount with interest rate floor .............................................
g. Weighted average interest rate floor..............................................

Fixed Rate

QSBL

Variable Rate

HQ08

6.a.

HQ09
HQ10
HQ11
HQ13
HQ14

HQ21
HQ22
HQ23
HQ25
HQ26
HQ33
LB26
HQ36

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

HQ44
HQ45
HQ46
HQ47

HQ55
HQ56
HQ57
HQ58

8.a.
8.b.
8.c.
8.d.
8.e.
8.f.
8.g.

HQ66
LB27
HQ69

QSBL Yes
9. Does your institution have an asset size greater than $10 billion and make a noteworthy amount
of small business credit card loans? If yes, complete question 10. If no, skip to question 11. ......... LE97

No

9.

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FR 2028D
Page 3 of 6

Loan Volumes and Terms—Continued
U.S. Dollar Amounts in Thousands QSBL
10. New and Outstanding C&I Credit Card Loans
a. Number of outstanding credit card loans ........................................ LB28
b. Outstanding dollar amount .......................................................... LB29
c. Outstanding weighted average interest rate .................................... LB30
d. Number of new credit card loans .................................................. LB31
e. Outstanding dollar amount of new credit card loans.......................... LB32
f. New weighted average interest rate .............................................. LB33

Fixed Rate

QSBL

Variable Rate

LB34
LB35
LB36
LB37
LB38
LB39

10.a.
10.b.
10.c.
10.d.
10.e.
10.f.

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
HQ78
HQ79

Applications
Approved

14.a.
14.b.

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FR 2028D
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Loan Demand and Applications—Continued
15. 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

15.a.
15.b.
15.c.

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

16.

Tightened considerably........................................................................................................................................................................
Tightened somewhat...........................................................................................................................................................................
Remained basically unchanged .............................................................................................................................................................
Eased Somewhat ...............................................................................................................................................................................
Eased considerably ............................................................................................................................................................................
17. 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

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

HQ92

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

HQ93
HQ94
HQ95
HQ96
HQ97

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FR 2028D
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Credit Standards and Terms—Continued
18. 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 16 and 17), 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

18.a.
18.b.
18.c.
18.d.
18.e.
18.f.

HR04

18.g.

HR05

18.h.

HR06

18.i.

HQ99
HR00

19. 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 16 and 17), 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

19.a.
19.b.
19.c.
19.d.
19.e.
19.f.

HR13

19.g.

HR14

19.h.

HR15

19.i.

HR08
HR09

Credit Quality of Applicants
20. In your opinion, how has the credit quality of U.S. small business applicants changed over the most recent
calendar quarter? (check only one)
QSBL HR18

20.

Improved substantially.............................................................................................................
Improved somewhat...............................................................................................................
Remained basically unchanged .................................................................................................
Declined somewhat ................................................................................................................
Declined substantially .............................................................................................................

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FR 2028D
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Credit Quality of Applicants—Continued
21. If the credit quality of small business applicants has changed over the most recent calendar quarter (as described in
question 20), 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

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

Special Questions
Special questions may be provided depending on the quarterly period. They will be updated in Reporting Central as applicable.

12/2020