Getting the Big Banks Back into Small-Business LendingThe SBA is partnering with the largest U.S. lenders to raise the amount of money loaned to small businesses, particularly in small loans and underserved communities.
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The Small Business Administration is partnering with the 13 largest U.S. lenders, including J.P. Morgan Chase, Wells Fargo, Citibank and Bank of America, to raise the amount of money loaned to small businesses, particularly in small-dollar loans and underserved communities. The group committed $20 billion in incremental lending to small businsses over the next three years and is marketing aggressively to small businesses, according to SBA Administrator Karen Mills.
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