|4 new trends in small business lending|
|Written by Delphos|
|Friday, February 01, 2013 6:03 PM|
Small business growth was often in the limelight during 2012 as the American economy struggled and unemployment continued to be a problem, though very small headway was made. Sunovis Financial notes that small businesses across America contribute heavily to employment and economic success, and unless small business can access capital to grow, the economy will continue to be troubled. One positive trend that is expected to continue into 2013 is the increasing alternatives to traditional bank lending for cash strapped small businesses looking to grow.
Trend #1 – Small Business Administration lending volumes in 2012 hit $30 billion. This is the second largest volume of lending by the SBA in its 59 year history. The only year with higher lending volumes was 2011, due to incentives from the Small Business Jobs Act of 2010. Smaller community banks are leading the way in SBA lending.
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