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Saturday
Oct232010

Banks Making More Loans as Economy Struggles Out of Recession

Photo Courtesy - Getty Images(NEW YORK) -- Banks are starting to make more loans as the U.S. economy, still bogged down by high unemployment and low consumer confidence, struggles to pull itself out of recession. 

Its good news for small businesses, which many see as the engine of recovery.  Banks have fewer bad loans on their books and are more willing to take a second look at an applicant that may not be as strong as some others. 

Brian Hamilton, CEO of the research firm Sageworks, says 57 percent of the banks his company surveyed plan to make more or significantly more commercial loans this year than last year.  Hamilton calls it a clear trend and says its good news for small businesses and consumers.

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