June 25, 2013
By Bob Coleman
Editor, Coleman Report
Yesterday, we reported how Obama’s Small Business Lending Fund has increased small business lending for 90% of lenders who accessed the fund.
Today, another view. The Washington Post’s J.D. Harrison says three years after the end of the recession, we remain in a credit desert, with small business lending down all across the board.
Small, mid-sized and large banks have each reported a steady decline in small business lending since the recession, and each has followed a downward trajectory in all three loan-size categories.
“Obviously, it dipped for everybody,” said Jim Seitz, a spokesman for the small business banking unit at Wells Fargo, one of the largest lenders to small firms in the country.
The lone exception has been loans of under $100,000 by large banks, which remain above the levels reported a decade ago and have shown some intermittent upticks in recent years. Still, even those remain below from their peak just before the recession.