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NC lenders told small-business loans better option

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CARY — North Carolina banks and credit unions are getting more attention in hopes they’ll increase lending to small businesses that the Obama administration wants to take the lead in
hiring coming out of the recession.

The U.S. Small Business Administration meets with lenders on Wednesday at Wake Tech Community College in Cary about efforts to help entrepreneurs borrow. SBA area manager Ivan Hankins said the agency has held sessions in Asheville, Greensboro, and Charlotte. Another comes to Wilmington in a few weeks.

Not only is SBA money available for startup companies, the federal stimulus bill increased government guarantees for bankers on small business loans to 90 percent and eliminated upfront fees for borrowers and lenders to encourage more loans.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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North Carolina banks and credit unions are getting more attention in hopes they’ll increase lending to small businesses that the Obama administration wants to take the lead in
hiring coming out of the recession.

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Associated poll

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