BizSugar.com › Raising Capital › Big Banks Still Lend Small Businesses Less Than a Decade Ago

Not that long ago, small businesses had personal relationships with their local banks.
But that was before the financial crisis of 2007-08 and the global economic collapse, followed by the consolidation of many institutions into fewer and fewer banks.
Today’s banks, more often than not, are national or multi-national entities that don’t see enough profit margin in giving out small business loans.
The number of loans issued by 10 of the largest banks in the U.S. has decreased 38 percent to $44.7 billion in 2014, the Wall Street Journal reports. This is compared to 2006, when it was at its peak at $72.5 billion, which was one year before the financial crisis.