The Hill; By: Sen. Mary Landrieu
Earlier this week, the Federal Reserve released its quarterly Senior Loan Officer Opinion Survey on bank lending practices, which showed that 70 percent of domestic banks have tightened their small business lending standards –- an alarming statistic.
In this economy, it is essential that small businesses have access to capital so that they can grow and create new jobs. While banks continue to pull back on loans to small firms, lending in the Small Business Administration’s flagship loan programs has also declined significantly.
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