The average small business loan amount for small businesses in the United States in 2020 was $71,072. This compared to fixed-rate loans, which had an average balance of $66,917 in the same year.
These figures were uncovered by research by small business resource and research provider, AdvisorSmith.
The study was designed to discover the average loan amount for small businesses in the US. It involved AdvisorSmith examining recent data by the Federal Reserve’s Small Business Loan Survey. 105 lenders were surveyed.