Banks Vow to Ramp Up Lending to Small Businesses
As loans guaranteed by the SBA hit record highs, US Vice President Joe Biden and SBA Administrator Karen Mills met with 13 banks in Cleveland on Tuesday according to Inside Main Street. The result? Citigroup pledged $24 billion in loans to small business in the US over the next three years, a sum that would significantly increase the bank’s lending to such businesses, the American Banker reports. Read more here.