Industry News - October 30, 2018

October 30, 2018

Aimed at adding transparency in the small business loan market, the new law will doubtless be followed by lawmakers and small business owners outside California as it is rolled out. 

With small credit unions and community development financial institutions gathering for Inclusiv’s annual conference, Credit Union Journal queried attendees on the biggest challenges facing their institutions. 

The surge of black-women owned businesses  helped the U.S. Small  Business Administration post-double-digit dollar gains this year in loan approvals for those firms. 

The Biz2Credit Small Business Lending Index™, released Oct. 9, found that 26.7 percent of the loan applications submitted to big banks were approved in September 2018. 

The federal banking agencies today released  2017 Community Reinvestment Act data  on small business, small farm, and community development lending. The 718 reporting banks originated or purchased approximately 6.6 million small business loans.

Source: ABA Banking Journal 


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