NEW YORK, NY (February 5, 2018) - A new study by the Small Business Administration finds that small business lending has grown significantly faster at small banks since the 2008 financial crisis, and encourages the establishment of more community banks and credit unions.
“Regulators should take steps to encourage the formation of new community banks, which are specialists in small business lending,” the study recommends.
Credit unions are also highlighted for their impact in the world of small business lending.
“Credit union lending to small businesses has more than doubled from 2008 to 2016, from $30 billion to $60 billion,” the article reports.
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