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New charts break down Fed’s Small Business Credit Survey by geography, owner demographics, industry, size, and more

May 31, 2024

The 12 Federal Reserve Banks have released a series of chartbooks that can be used to analyze data from the 2023 Small Business Credit Survey by city, state, owner demographics, industry, size, and other characteristics.

The 2024 Firms in Focus chartbooks include 43 sets of charts that provide insights on how different types of small businesses performed in 2023, the challenges they faced and their experience seeking loans and other types of financing.

The chartbooks provide an easy way to compare small business credit conditions across a variety of dimensions. For example, a journalist, researcher, policymaker, or service provider may want to compare …

… Startups and established small businesses
… Rural and urban small businesses
… Women-owned businesses and men-owned businesses
… Minority-owned businesses and white-owned businesses
… California companies and small businesses nationwide

To download the chartbooks, visit the 2024 Firms in Focus page on

Questions? Contact Chuck Soder:, 216.672.2798

Chartbooks available, by category:

Business characteristics

  • Age of firm
  • Credit risk
  • Employment size
  • Industry
  • Revenue size
  • Rural and urban firms

Owner characteristics

  • Age of owner
  • Gender
  • Immigrant-owned firms
  • LGBTQ-owned firms
  • Race and ethnicity – Black, Hispanic, Asian, white and American Indian/Alaska Native (Native American)
  • Veteran-owned firms

City (metropolitan area)

  • Atlanta
  • Boston
  • Chicago
  • Cleveland
  • Houston
  • Los Angeles
  • Miami
  • New York City
  • Philadelphia
  • Portland
  • Tampa
  • Washington, D.C.


  • Alabama
  • Arizona
  • California
  • Connecticut
  • Florida
  • Georgia
  • Illinois
  • Massachusetts
  • Michigan
  • Minnesota
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Oregon
  • Pennsylvania
  • Texas
  • Virginia
  • Washington

About the Small Business Credit Survey

The SBCS is an annual survey of firms with fewer than 500 employees. These types of firms represent 99.7% of all employer establishments in the United States. Respondents are asked to report information about their business performance, financing needs and choices, and borrowing experiences. Responses to the SBCS provide insights on the dynamics behind lending trends and shed light on various segments of the small business population. The SBCS is not a random sample; results should be analyzed with awareness of potential biases that are associated with convenience samples.

Fielded September through November 2023, the most recent SBCS was the fourth conducted since the COVID-19 pandemic began in early 2020. The 2023 SBCS yielded nearly 11,000 responses from a nationwide convenience sample of small firms across all 50 states and the District of Columbia, including 6,131 responses from employer firms with 1–499 full- or part-time employees. The remaining responses represent nonemployer firms, or those with no employees other than the owner(s).