Secret Site Map
Thursday, April 17, 2014

Home News Treasury Report Shows Drop In Small-Business Loans

Treasury Report Shows Drop In Small-Business Loans

Business

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

More Mazdas Recalled Due to Spider Problem

The latest recall involves 42,000 Mazda6 midsize sedans from the 2010-12 model years, and equipped with the 2.5-liter, four-cylinder engine.

Photos: Bed Bugs vs. Bat Bugs

Additional photos from Dr. Michael Potter for the August PCT feature 'Holy Cow...Bat Bugs and Bird Bugs.'

Win a Copy of the New PCT Commercial Pest Management Book

Enter your name for a chance to win a copy of this new industry resource focused on treating a variety of commercial accounts.

Allgood Announces Corporate Promotions; Acquisition of Rich Exterminators

The company’s promotions are part of its strategic growth plans. Rich Exterminators is a Lawrenceville, Ga.-based company founded by Howard Rich in 1989.

A Look at Bed Bug Look-Alikes

The IPM Institute of North America has a review of five commonly encountered pests, including bat bugs (pictured), that can be misidentified as bed bugs.