Small Business Finance News
Anthony Weiner Touts Increase In NYC Small Business Lending
Written by Jenna Weiner
Published: 11/3/2010
940 small businesses in NYC have gotten loans in 2010
According to U.S. Representative Anthony Weiner, government-backed small business loans rose 45 percent in the last year, bringing the grand total to $262 million in fiscal year 2010.
Weiner's office released a study that revealed the rise in the amount of loans to 940 in the year 2010, 44 percent higher than the 655 in 2009. The rise in lending could be seen across the city of New York. In the Bronx, there was a 62 percent increase in the amount of lending by small businesses, and Manhattan experienced a 57 percent increase in the last year.
"Small businesses are the backbone of New York City's economy, and they have borne the brunt of our nation's recent downturn," Weiner said in the latest news for small business. "The increase in loans to small businesses is extremely encouraging, because access to credit is vital to helping these businesses get back on their feet and putting Americans back to work."
Weiner is locked in a heated battle for reelection with Republican challenger Bob Turner. Both have claimed to represent the interest of small businesses in the region.
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