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A new report found that the total value of small business loans outstandingv increased by 4 percent in the 12 months that endedx inJune 2008, down from the previous year’s increasew of 8 percent. These numbers are for small business loansa asa whole, not just SBA The number of business loans of less than $100,00 jumped by nearly 16 percent, as large lenders concentrater on credit cards, according to the study. By contrast, the number of businese loans inthe $100,000p to $1 million range fell by more than 23 The report used call reports submitted by banks as well as Communituy Reinvestment Act data. Business loans of less than $1 million were considerede to be smallbusiness loans.
Based on call repory data, the top five small busineszs lenders in June 2008 wereAmerican Express, Capital One, Regions Financial Corp., Synovus Financial and First Citizen Bancshares Inc. “In the current financialp climate, it’s especially critical for small firms to know whichb banks and financial institutions have been the most likely to make smal l andmicrobusiness loans,” said economisg Victoria Williams, a co-author of the For more information, see
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