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Seventy-five percent of small business owners tapped personal credit for business expenses
gap in preparation and financial literacy rather than a lack of available capital.
According to the study of more than 800 US small business owners, 25 % of their recent business financing applications were delayed or denied due to avoidable application mistakes, driving many founders to compromise their personal financial health.
The findings highlight a critical disconnect: while roughly two-thirds( 65 %) of SMB owners applied for a business line of credit or term loan in the past 12 months, the vast majority skipped fundamental preparation steps. A striking 73 % of respondents admitted they did not research lender approval requirements beforehand, 72 % failed to update their financial statements and 56 % did not check their business credit score before hitting submit. new national survey published by Bluevine, a digital
A banking platform for small businesses in the US, reveals that small business financing challenges are often driven by a
These preparation gaps frequently force owners to rely on personal financing to keep operations afloat, with 75 % of small business owners self-reporting that they used personal credit cards or personal loans for business expenses over the last year. This marks a massive jump from Bluevine’ s 2025 data, where 49 % of owners reported using a personal card to cover business expenses.
EDF and Heliotec launch partnership to help small businesses reduce energy costs
EDF Small Business and Heliotec have announced a partnership that begins with a four-month trial involving over 1,000 eligible EDF Small Business customers. The partnership combines EDF’ s expertise and customer relationships with Heliotec’ s AI-powered energy intelligence platform to make energy management more practical and accessible.
Small businesses are under growing pressure from rising energy costs and a more complex energy landscape, increasing the need for simple, practical ways to improve efficiency and reduce unnecessary costs.
Heliotec’ s AI-powered platform analyses site-level energy data to identify inefficiencies and deliver real-time, site-specific recommendations in clear, practical language. The platform translates complex energy data into straightforward actions, providing clear guidance that businesses can act on immediately.
This approach reduces the time and effort required to improve energy performance, without the need for additional hardware installation or complex implementation, allowing businesses to focus on running and growing their operations.
The four-month trial will provide over 1,000 eligible EDF Small Business customers across hospitality, retail and light industry with free access to the platform. Customers who choose to participate will securely share existing energy data with Heliotec, enabling the platform to begin analysing energy consumption and delivering tailored recommendations within days.
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