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Community Banks and Small Biz Lending

Jan 27, 2009

Posted by Molly Nelson - According to this article in BusinessWeek, despite the economic downturn, many community banks are reporting an increase in loans and credit lines to small businesses. Community banks are generally defined as banks with less than $10 billion in assets. 

In a recent meeting on promoting economic recovery before the House Committee on Small Business, Paul Merski of the Independent Community Bankers of America testified "that community banks make 20% of all small-business loans, even though they represent only about 12% of all bank assets. Furthermore, he said that about 50% of all small-business loans under $100,000 are made by community banks."

Have you or other small business owners you know had success in getting loans from community banks recently?  Share any stories or tips in the comments!

Courtesy of NASE.org
https://www.nase.org/about-us/self-made-nase-blog/self-made/2009/01/27/Community_Banks_and_Small_Biz_Lending