Small business loans: $10 billion evaporates
NEW YORK (CNNMoney.com) -- Eight months after President Obama began prodding the nation's banks to increase their small business lending, the loan numbers continue to move in the opposite direction. The 22 banks that got the most help from the Treasury's bailout programs cut their small business loan balances by a collective $10.5 billion over the past six months, according to a government report released Monday. Three of the 22 banks make no small business loans at all. Of the remaining 19 banks, 15 have reduced their small business loan balance since April, when the Treasury department began requiring the...
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Tags: Bailout, Banks, Business New, Cnnmoney, Eight Months, Government Report, Loan Balance, Loan Balances, Loan Numbers, Obama, Six Months, Small Business Loan, Small Business Loans, Treasury Department