ATLANTA, GA (October 9, 2018) - Local banks hold 42% of all small business loans in the United States, a new study by the Federal Deposit Insurance Corporation (FDIC) found.
“Small businesses comprise almost half of private-sector employment in the United States, and banks are the most common source of external credit for these businesses. Despite holding only 13% of banking industry assets, our data shows that community banks hold 42% of small business loans,” FDIC Chairman Jelena McWilliams said. “In light of ongoing consolidation in the banking industry, banks’ ability to meet the credit needs of this important sector is of vital interest to the FDIC.”
