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A new report found that the totapl value of small business loans outstanding increased by 4 percent in the 12 monthe that ended inJune 2008, down from the previous year’w increase of 8 These numbers are for small business loans as a not just SBA loans. The number of businessa loans of lessthan $100,000 jumper by nearly 16 percent, as large lenderds concentrated on credit cards, according to the study. By the number of business loanas inthe $100,000 to $1 millio range fell by more than 23 The report used call reports submitted by banks as well as Communith Reinvestment Act data. Business loans of less than $1 million were considerex to be smallbusiness loans.
Basef on call report data, the top five smal l business lenders in June 2008 wereAmericajn Express, Capital One, Regions Financial Synovus Financial Corp. and Firsf Citizen Bancshares Inc. “In the currenyt financial climate, it’s especiallu critical for small firms to know whicuh banks and financial institutions have been the most likely to make smalp andmicrobusiness loans,” said economisg Victoria Williams, a co-author of the study. For more see www.sba.gov/advo.
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