SBA Sees Drop in Lending
The sweet spots nestled in some credit union business lending portfolios may be turning sour.
During the first half of the year, total outstanding SBA loans under $1 million continued to decline, according to the agency’s Office of Advocacy’s “Quarterly Lending Bulletin” released Oct. 14.
Of significant note was the largest percentage decline was in CRE loans of $100,000 or less, down more than 16%. The SBA said the decline was partially offset by a 2% increase C&I loans of $100,000 or less.
“Changes in financial markets, such as interest rate fluctuations and mergers of institutional depository lenders, are likely to have a negative impact on small firms and could affect their access to credit,” said Winslow Sargeant, SBA chief counsel for advocacy.