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Increase in Lending of Credit by Banks to Small Businesses

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Posted by Gavin Moodie on September 25, 2010 at 1:12 am

It is the end of recession period. Many banks are identifying the importance of lending programs for small businesses. When small businesses have strong economic position, automatically more new jobs will be created and it will also strengthen country’s economy.

On observing banks trends, one can easily understand that they are giving more importance to the small businesses lending programs.

The SBA (Small Business Administration loans) value increased 48% during the first half period, when compared with the same time in 2009. SBA has issued 87 Small Business Administration loans of worth $18 million to Clark County businesses in 2010, compared with 63 loans of worth $12 million in the first six months of 2009.

  • Clark County’s No.1 best lender by volume this year is Columbia Credit Union which has had a 15 percent increase in SBA lending in 2010. It has issued 15 loans of worth $1.3 million since starting of this year.
  • West Coast Bank is positioned at No. 2. It has issued 12 loans of worth $2.4 million.
  • The First Independent Bank is at No.3. It has issued 9 loans of worth $844,000.

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