Small business lending is on the rise, according to the Small Business Administration.
Last week, the Small Business Administration Office of Advocacy released a study entitled, Small Business Lending in the United States, 2012. The report is an annual analysis of small business banking activities by lending institutions in the United States.
Businesses use these numbers to identify banks and other institutions in their community that are friendly to small business lending. Banks use the information to identify competition in their market.
“While overall small business lending continues to decline, we are not seeing the sharp decline we saw in recent years,” said Dr. Winslow Sargeant, Chief Counsel for Advocacy in a statement. “More importantly, the study shows an increase in the number of small business loans which underscores the positive turn in our country’s economic landscape,”
Overall findings from the study include: