Online Listings

Small Business Lending on the Rise

By | 02.05.12

Small Business Lending on the Rise

Good news for small businesses this week as the Federal Reserve reported that small business lending has rose in the fourth quarter by a large margin. It its survey of senior loan officers in the banking sector, the Fed found that small businesses made the largest leap within a quarter since 2005.

Contributing to this trend, Citibank recently announced a 30-percent increase in its small business lending, while J.P. Morgan Chase reports an increase in 2011 by 52 percent. Biz2Credit, an online marketplace that matches entrepreneurs to lenders, reported in December a 62-percent approval rate, a jump from 49 percent in the beginning of 2011.

The news comes on the heels of an announcement by President Obama of plans for the 2013 fiscal budget that includes cutting capital gains taxes on investments, providing a tax credit for hiring and doubling the amount of allowed deductions for start-ups. The plan will be submitted to Congress on Feb. 13.

(Visited 33 times, 1 visits today)
Share on: Share to Facebook Share to Twitter Share to LinkedIn
Comments

Like what you see?
Get more free content.

Next Up In Online Listings

Habits That Make Your Google My Business Listing More Effective

Google My Business

Habits That Make Your Google My Business Listing More Effective

If you’re running a business, your success depends on customers finding you. Having a clean, crisp website helps, but...

Read More

After COVID, an Up-to-Date Google My Business Listing is Crucial

COVID-19

After COVID, an Up-to-Date Google My Business Listing is Crucial

We know that when COVID-19 struck, many hard-working people were met with days of struggle, including small business owners....

Read More

Thryv’s New Business Scan Scores Your Customers’ Online Experience

Back Office

Thryv’s New Business Scan Scores Your Customers’ Online Experience

What do customers and prospects think about their online experience with your business? We’ve developed a free do-it-yourself business...

Read More