This recent article in the Arizona Republic talks about how some small community banks in Arizona across the USA who once avoided getting involved with SBA loans because they were to difficult are now rushing to become SBA lenders because of special new incentives and to service emerging opportunities that the stimulus package may generate.
According to the article,"That could mean new financing options for entrepreneurs, particularly in metro Phoenix's fringe suburbs and Arizona's rural communities, at a time when many large banks have shut the door on less-experienced loan applicants." The article also notes that SBA loan volume in Arizona is currently down 62% over the same 1st quarter time period of last year, and that 25 SBA lenders in the AZ market have disappeared because of failures or mergers.
Thursday, February 19, 2009
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