socialmedian: Banks Pick up Credit Card Distribution

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Banks Pick up Credit Card Distribution

Source: Capital Solutions Bancorp Blog

Oct 16, 2009

Summary

The Wall Street Journal reports that banks have mailed more credit cards to small businesses than in previous months. These include Chase, Barclays, Citibank and Bank of America. Could this mean banks are starting to relax their credit requirements?

One sign that could support the improved conditions is that the Small Business Administration (SBA) has seen its 7(a) and 504 loans go up by more than 60% since March. However, lending hasn't caught up to past rates, these actions indicate good signs.

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