Archive for the ‘banks’ Category

According to a government report released Monday, the 22 banks that got the most help from the U.S. Department of Treasury’s bailout programs cut their small business loan balances by a collective $10.5 billion over the past six months. The article “Small business loans: $10 billion evaporates” mentions that out of the 22 banks, three make no small business loans. Since April 2009, out of the remaining 19 banks, 15 have reduced their small business balance.

The article also mentions that the 22 banks have cut their collective small business lending by four percent within the last six month period and have a cumulative balance of $258.7 billion as of September 30, 2009. For the past six months, the U.S. Department of Treasury has required the biggest banks receiving Troubled Asset Relief Program (TARP) funding to report their small business lending on a monthly basis.

For more information about the new report, visit http://www.ustreas.gov/ and
Read the article, “Small Business Loans: $10 Billion Evaporates” and let NSSEA know your thoughts!

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