Innovation America Innovation America Accelerating the growth of the GLOBAL entrepreneurial innovation economy
Founded by Rich Bendis

Are banks becoming more willing to lend to small companies? In recent months, most of the major banks have announced intentions to increase small business lending, to hire additional staff to deal with small business loans, and to give small business loan applications they had previously rejected a “second look.”

And in fact, recent statistics bear out that those intentions were followed up with action. In the third quarter of 2010, the Wall Street Journal reports, Wells Fargo issued $3.9 billion in small business loans, up from $3.3 billion in Q3 2009; Bank of America made $5.7 billion in small business loans, up from $4.1 billion in Q3 2009; and Chase made $2.7 billion in small business loans, up from $1.9 billion in Q3 2009.

To read the full, original article click on this link: Is Small Business Lending Really Ramping Up?

Author: Rieva Lesonsky