Traditional small business lending has decreased dramatically since the collapse of the U.S. banking industry in 2008. The number of small business loans from traditional banks peaked at $14 billion in 2007 and declined to less than $5 billion in 2015. The number of equipment lenders has dramatically decreased from 2007 until 2015, leading to less competition in the area. This is not likely to be reversed, due to Dodd-Frank restrictions on the major lenders. Financing for transportation equipment has become very difficult to obtain, particularly for used transportation equipment. This has led to interest rates sometimes as high as 30%. The overall marketplace for available loans is $285BN in 2015. However, only $5-7BN are currently being lent by marketplace lenders.
