Banks increase small-business lending

09/29/2013 | Bloomberg Businessweek

A group of 13 banks including Wells Fargo and Bank of America say that since September 2011, they have boosted their lending to small businesses by $17 billion. As of June, outstanding small-business loans totaled $297 billion. A new report shows that the State Small Business Credit Initiative facilitated $1.9 billion in financing to more than 4,600 small businesses through the end of last year.

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