Small business lending on the rise
Published on February 3, 2012 by Mary Ellen Biery, The Washington Post
In his recent State of the Union address, President Obama urged Congress to help “tear down regulations that prevent aspiring entrepreneurs from getting the financing to grow.”
This raises the question: Is access to credit still one of the biggest issues facing entrepreneurs and small business owners? The answer is that the picture appears to be improving.
Citibank recently reported a 30 percent jump in lending to small business. J.P. Morgan Chase said it boosted lending to small businesses (which it defined as businesses with less than $20 million in annual sales) by 52 percent in 2011.