Banks ramp up small-business lending

07/16/2014 | New York Times (tiered subscription model), The

Lending is on the rise for small businesses, with large banks approving 20% of small-business loan requests last month, more than twice the 9% approval rate three years ago, according to Biz2Credit. "Rates are low and banks are also feeling the economic recovery," said Keri Gohman, Capital One's executive vice president and chief of small-business banking. "We really want to lend. Small-business owners can shop around and work with banks to find the best rates."

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