The J.D. Power survey included responses gathered between June and August from 7,327 small-business owners and “financial decision-makers.”
The research firm found customer satisfaction ranked 13 points higher, on average — 829, among customers of national banks, as opposed to those of regional ones. National bank customers, generally, also reported an easier loan forgiveness process, J.D. Power said.
About 28% of small-business owners said COVID-19 continues to have a severe or major effect on their business, the researcher found. Just more than half — 52% — reported being financially stable with access to capital/credit required to meet their business needs. About 26% said they are financially stressed, and 23% reported being financially vulnerable, according to J.D. Power.