A new report by accounting firm EY highlights private credit’s important role in growing the U.S. economy, supporting jobs, and providing capital to small and medium-sized businesses.
The report, released by the American Investment Council (AIC), revealed several key findings. Among them, it found that U.S. companies receiving private credit investments directly employed more than 811,000 workers in 2024.
It also found that private credit financing helps modernize domestic manufacturing by funding advanced machinery and equipment, while supporting over 200,000 jobs in the sector. Further, the median company backed by private credit employs 182 people.
Additionally, private credit provides funding and flexible capital solutions to small and medium-sized businesses that often face barriers to traditional financing. Finally, it noted that private credit suppliers and related consumer spending supported an additional 1.7 million jobs, ultimately generating over $200 billion in GDP.
“The report makes obvious private credit’s significant impact in fueling growth and spurring economic activity across the country by providing businesses with the capital they need to make strategic investments and support high-paying jobs,” AIC President and CEO Drew Maloney said. “By revitalizing local manufacturing and partnering with small businesses, private credit is helping strengthen the American economy from the ground up.”
The report includes new data on more than 4,000 private credit deals across 3,700 companies in 2024
Overall, private credit supported $85 billion in direct wages and benefits, contributed approximately $145 billion in direct GDP, and supported 2.5 million jobs.