Small Business Finance News

Small Business Lending Making Progress

Written by Jenna Weiner
Published: 5/24/2011

As the economy improves, banks are becoming less hesitant to supply small businesses with loans.

It's no surprise in small business news that less sizable companies have struggled to recover from the recession, since they were highly concentrated in the hardest hit industries during that time period.

Small Business Lending Making Progress

However, banks seem to be more willing to supply loans, which could open up job opportunities.

"The small business economy continues to limp along with tepid growth and minimal job additions," said Barry Sloane, president and CEO of the Small Business Authority. "We have witnessed an uptick in small business lending, but we believe the seeds for a reversal in trends could be in place unless business optimism picks up."

The Florida Times-Union points out that there has been a loosening of lending by major banks for small businesses in recent months. For example, SunTrust Bank of Jacksonville, Florida, saw its lending rise by 27 percent in 2010.

David Mann, chairman, president and CEO of SunTrust, tells the news source that although small business lending hasn't reached the level it was at during the real estate boom, it's still up from the doldrums of 2008 and 2009.  

Share this article


About Our Entrepreneur News

If you enjoyed this article, you can find plenty more like it on our site. We cover essential news stories for entrepreneurs. In addition to breaking news for entrepreneurs, we also have tons of how-to articles that cover topics like writing a business plan, preparing a marketing plan, getting publicity and much more.

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities


Business Glossary