Office of Advocacy
    U.S. Small Business Administration

    NEWSRELEASE

    For Release: November 22, 2002
    Contact: John McDowell (202) 205-6941
    SBA Number: 02-45 ADVO
    john.mcdowell@sba.gov

    Small Business Loans Increase During Past Year

    Small Business Lending Increases 5.4 Percent In 2001

    WASHINGTON, D.C. – Small business lending increased by 5.4 percent in 2001, according to a study released today by the Office of Advocacy of the U.S. Small Business Administration (SBA). Small business loans (under $1 million) totaled $460 billion in June 2001, an increase of $23 billion over 2000.

    The report, “Small Business Lending in the United States, 2001 Edition,” analyzes bank lending patterns across the United States and across commercial bank sizes. It found that smaller business lending increased at a faster rate than larger loans as loans over $1 million only increased by 0.9 percent.

    The report ranks commercial banks in individual states based on their small business loan portfolios and also ranks major bank holding companies in the national market.

    “This report offers small businesses, banks, and those interested in how small business are financed a way to compare commercial banks and bank holding companies. It is one way to measure their commitment to small business,” said Thomas M. Sullivan, Chief Counsel for Advocacy.

    The report is based on data from both Community Reinvestment Act (CRA) reports and Consolidated Reports of Condition and Income (call reports). The call report and CRA data both provide useful information, but are not comparable. CRA data reflect loans made during the year, while the call reports measure all outstanding loans as of June 30.

    For more information and the complete report, visit the Office of Advocacy website at www.sba.gov/advo.

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    Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. Appointed by the President and confirmed by the U.S. Senate, the Chief Counsel for Advocacy directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. Economic research, policy analyses, and small business outreach help identify issues of concern. Regional Advocates and an office in Washington, DC support the Chief Counsel’s efforts. For more information on the Office of Advocacy, visit http://www.sba.gov/advo, or call (202) 205-6533.