had the of all funding issued to small businesses, followed by Health Care and Social Assistance , Services except Public Administration , Accommodation and Food Services , and Construction ., followed by Public Administration , Arts, Entertainment, & Recreation , Services except Public Administration , and Retail Trade .
Demand for IT services continues to boom as more and more companies arrange for remote working in the aftermath of the pandemic. IT companies saw the highest average approval rates for financing requests. Although these companies did well overall, their clients are often larger firms that take longer to pay outside vendors. Thus, they wind up borrowing money to manage their available cash month to month.
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