Friday, May 29, 2015

Home News Treasury Report Shows Drop In Small-Business Loans

Treasury Report Shows Drop In Small-Business Loans

Business Management

Nine of the largest banks to receive money through the government's $700 billion financial market rescue program cut back lending to small businesses in January

| March 18, 2010

WASHINGTON — Nine of the largest banks to receive money through the government's $700 billion financial market rescue program cut back lending to small businesses in January, the Dow Jones Newswire reports.

The total volume of small-business loans outstanding at the banks fell 1% in January, the U.S. Treasury said in a report released late Monday. New loan originations for small businesses dropped 28%.

Meanwhile, total average loan balances at the institutions rose 2% to $1.064 trillion in January. Overall new loan originations were down 35%.

The Treasury attributes much of January's fall in overall originations to sharply higher new lending activity in the previous two months.

The drop in small-business lending comes as the Obama administration and federal banking regulators are pushing for a revival in small-business lending. President Barack Obama has proposed shifting $30 billion from the $700 billion Troubled Asset Relief Program, or TARP, to a new small-business lending fund. The details of how that fund would operate have yet to emerge.

Source: Dow Jones Newswire

Top news

No-shows to show-offs

After a miserable few years, David Alexander talks with Lawn & Landscape about what he and his team had to do to improve the operations and company morale at TruGreen.

Exmark unveils Vantage S-Series Propane rider

New Kohler EFI propane powerplant can reduce fuel expenditures by up to 40 percent.

Green industry pioneer Matt Shooner passes away

The founder of Focal Point Communications sought to grow the industry.

In hindsight

We asked some Top 100 company leaders about decisions they’d want to do over, and some choices they made that they wouldn’t change.

Breaking into The Big Easy

Mullin Landscape Associates began as a modest design/build outfit working on projects as New Orleans slowly recovered from Hurricane Katrina. Today, the full-service firm has the reputation and resources to make an even bigger impact.

x