Lending To Small Business Rebounds After 3 Year Slump

August 15, 2012

Despite some recently bad news with respect to small business lending, some new data from the government shows that it is actually starting to tick up after being in the doldrums for the past three years as a result of the financial crisis and increased, back to proper, lending standards. For those seeking alternative sources of funding for your small business head over to our Economy & Markets page where one of today’s top 3 stories provides exactly that. Fox News continues with the number, “financial institutions reporting under the Community Reinvestment Act originated or purchased $197.47 billion in small business loans in 2011, up 10% from the previous year, according to the Federal Reserve, Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency. Lending had been on a downward slope since the credit crunch erupted in late 2007, sliding 45% in the three years ending in 2010--to $179.74 billion…”

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Source - Fox Business

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