Small Business Lending Down $10.9 Billion, or 2% in 2012
March 25, 2013
A recent SNL Financial report contradicts all the big bank chest pumping press releases about how they are growing their small business loan portfolios.
Banks with assets over $10 billion continue to decrease their small business loan presence.
Analyzing three loan buckets, loans between $250,000 and $1 million increased over 4% in 2012 for banks with assets between $1 billion and $10 billion.
Overall, small business lending is down $10.9 billion, or 2% compared to 2011.
Wells Fargo is rated the largest small business lender, followed by Bank of America, JPMorgan Chase , American Express and U.S. Bank.