Groups ask for small-business lending
In the letter, ABC President and CEO Kirk Pickerel and ICBA President and CEO Camden R. Fine said, “We support a return to a more balanced regulatory environment that would allow community banks to continue to serve the needs of their local customers – small businesses. In fact, community banks support 31 percent of all small business loans that are less than $1 million. During this time of economic recovery, it is critical that small businesses have access to such funds.
“Small businesses are the backbone of our economy and give Americans a sense of pride and accomplishment in our country,” the letter said. “Many community banks have relationships with small construction firms and are anxious to make good loans in order to spur job creation.”