WASHINGTON - According to a new report by the Small Business Administrationï¿½ï¿½s Office of Advocacy, lending to small businesses dropped 6.2 percent last year to $652 billion, while lending to large businesses fell by 8.9 percent, the Daytona Business Journal reports.
The report compared business loans held by banks, thrifts, and credit unions in June 2010 with the amount held in June 2009.
The steepest drop in small business lending was in commercial real estate loans, which were down 4.1 percent (though loans of $100,000 or less actually increased 2 percent).
Among the top small business lenders, both nationally and state-by-state, are American Express, Ally Financial, Wintrust Financial, Capital One and BB&T.
For business loans between $100,000 and $1 million, the top lenders were Synovus Financial,
First Citizens BancShares, Zions Bancorporation, BB&T and Fulton Financial.