|
The financial landscape has changed since the data were collected June 2008, for those looking for SBA Lending. After Wall Street's collapse last fall, top lenders began cutting credit lines for small businesses. And a landmark credit-card reform bill passed last month promises new protections for consumers, though it is still tougher for small business borrowers.
Still, the data paint a picture of lenders - especially the nation's largest - increasing credit-card lending while cooling on larger traditional loans. The 100 lenders with more than $10 billion in assets accounted for 61% (in dollar volume) of business loans under $100,000 in 2008, up from 53% two years earlier. "These giants continued to concentrate in the credit card market. Large lending institutions remained passive or less active in the market for loans between $100,000 and $1 million," the report says.
The shift may reflect changing demand for small business credit. Internet companies and home-based businesses have less need for larger loans because they need fewer hard assets, such as machinery or vehicles. At the same time, credit-card issuers have moved aggressively into the small business market and lenders have tightened standards on bank loans. That explains why the top lenders to small businesses nationally are also among the nation's top credit-card issuers, who are actually the bigger players. C&C Capital Lending has consultants to guide the small business owner through the financing process. Contact toll free 866-552-9267 or browse through our website for more information.
|
|
