A broker assesses the small-business lending market.
Last week, I wrote a post about a joint announcement from the Small Business Administration and 13 of the largest banks in the country that they had increased their small-business lending by more than $11 billion over the past year. As I noted, this number stands in stark contrast to the number these banks self-report to the Federal Deposit Insurance Corporation, which shows that their lending has fallen by more than $2 billion.
Getting capital into the hands of small-business owners and entrepreneurs at affordable prices is a critical issue for our economic recovery. And that’s why it is important, when the largest banks in our country and the S.B.A. administrator make an announcement, that we understand what it means. I am happy to report that the Financial Services Roundtable, an organization that represents those 13 big banks, provided a statement in response to my post. We’ve decided to share the full statement, because we feel it provides some important clarification (while also raising some additional questions). Here it is, followed by a few of my thoughts:
After reading Ami Kassar’s Tuesday column (“The Big Banks Say They Are Meeting Their Lending Commitment”), we want to make sure you have information on F.D.I.C. call report data, what it
We recommend you visit the following site for more complete information and related topics. Article source: http://boss.blogs.nytimes.com/2012/10/01/the-biggest-banks-tell-us-a-little-more-about-their-small-business-lending/