I have never liked folding knives. Swiss Army knife bit me as a kid. This is my EDC working knife with the lanyard so I can attach it to my wrist so I can leave it dangle while I use that hand. This is a cheap(ish) Schrade with a 2 1/2" blade made out of D2 toolsteel. It serves very well as a patch knife as it takes a very keen edge. Mine cuts cigarette paper when I'm done with the polish stone. Bit of a pain to get it there 'cos it's pretty hard steel, but it'll keep that edge petty good. The steel is pretty rust-resistant but it's not stainless. Not an issue for me as I use it daily for everything from clipping cigars, cleaning my nails, removing splinters to cutting patches.
I don't think a patch knife needs to be big, just sharp.
Disclaimer: I'm not shilling Schrade. When they were a US company, the quality was invariably very high. Now they are Chinese and it's hit-and-miss. Personally, if it's Chinese or Taiwanese and it just says "Stainless Steel," I don't buy it. If it's made in Pakistan, I don't buy it, regardless what it claims. Caveat Emptor!