While loans under $100,000 are making up a small percentage ofbanks' small business loan portfolios, credit unions are seeingmuch more activity.
|Loans under $100,000 accounted for 6.6% of business loans atbanks, according to FDIC institution data as of June as cited byNAFCU's November's Economic & CU Issues Monitor.
|Meanwhile, credit unions said 30.8% of their business loans wereunder $100,000.
|Credit unions are also extending credit to businesses that cannot find it elsewhere.In a NAFCU survey, 11.4% of respondents said they granted abusiness loan to a member who had been turned down by a bank.
|The same portion of credit unions said they were forced to turndown a business loan due to the 12.25% of assets member business lending cap, NAFCU reported.
|Credit union member business loan delinquencies fell to 3.64% inJune, while business lending delinquencies for FDIC institutionswere 3.94%, according to NAFCU.
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