A Steady Signal Still Needs a Ready Borrower

Admin — Thu, 15 Oct 2026 13:00:00 +0000

In the current environment, small business owners are making financing decisions amid economic uncertainty and rising costs. That gives the theme of the 78th International Credit Union Day® on Thursday, October 15, 2026, a practical meaning: “Cooperative Finance: A Steady Signal in a Noisy World.”

A steady signal helps in choosing a lender, but it raises a second question of capital readiness: is the business prepared to borrow?

Why look at a Credit Union?

In the Federal Reserve’s 2026 Small Business Credit Survey, 76% of credit union borrowers approved for financing were satisfied with their lender, the highest rating, compared with 35% at online lenders, though the credit union sample is modest.

Credit unions are member-owned and community-focused, which affords the opportunity to build a lender relationship before a loan is needed. Small banks had a higher loan approval rate in the same survey and credit unions require membership, so treat a credit union as one option to evaluate.

Access is only half the equation

Every lender is judging whether a business can repay what it borrows. As we discussed this past March, the same Fed survey found that among applicants turned down for some or all of the financing they sought, more than a third cited too much existing debt and nearly a third cited a low credit score. Both show up early in a lender’s review.

A lender willing to lend does not automatically make a business ready to borrow.

Relationship and Credit Readiness

A strong relationship helps a lender understand a business, but it cannot make up for inadequate cash flow, heavy debt or unreliable financial statements. Relationship and readiness work together: the lender brings capital and an understanding of credit, and the owner brings credible information and a viable plan to repay.

The questions to ask

In July we asked whether your business could act when an opportunity arrives without warning.

If the right financing opportunity were available today, would your business be ready for it?

What story do your business documents tell about the state and health of your business?

Access to capital creates opportunity, and capital readiness puts a business in a position to take advantage of it.

Close the Capital Readiness Gap

Our Becoming Bankable® program bridges the capital readiness gap, preparing businesses for funding and helping financial institutions build stronger borrower pipelines.