Sky’s The Limit? Big Bank Lending for Small Businesses Just Keeps Climbing
By: Antony Maina - February 08, 2017
Lending to small businesses from big banks ( those with $10 billion or more in assets) and institutional lennders continues to climb according to a recently released Biz2Credit Small Business Lending Index report for October.
The report indicates that loan approval rates at big banks improved to 23.5 percent, which is a one-tenth of a percent increase from September’s 23.4 percent. It is important to also note that loan approval rates at the big banks has been increasing for the past seven months.
“Banks want to meet their targets for the year, which means the spigot of small business lending has opened up,” CEO and co-founder of Biz2Credit Rohit Arora said in a press release.
** Disclaimer Required by IRS Circular 230** Unless otherwise expressly approved in advance by the undersigned, any discussion of federal tax matters herein is not intended and cannot be used 1) to avoid penalties under the Federal tax laws, or 2) to promote, market or recommend to another party any transaction or tax-related matter addressed.