Banks put the brakes on small-business lending in October as the government shutdown shuttered the Small Business Administration and the Internal Revenue Service.

Banks with more than $10 billion of assets approved just 14.3% of small business loans in October, down from 17.5% the previous month, according to a monthly survey released Tuesday by online loan intermediary Biz2Credit. Small banks approved 44.3% of applications, a decline from 50.1% in September and the lowest portion recorded since August 2011.

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