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Financial Services for Small Businesses in the U.S., 2nd Edition

Coming out of the recession, small businesses are building momentum, as a post-recession job engine, employer to almost half of all payroll employees, and a contributor of an estimated $5.8 trillion to GDP in 2013. Meeting their financial service needs is essential to economic growth—and provides continued opportunity. But while lending practices show some signs of loosening, many small businesses—especially smaller and younger firms—face continued difficulty getting credit; and while small business personal card use among small businesses is on the rise, business credit card use has been on the decline (despite card associations and leading megabanks’ building out integrated sets of products and services around their card platforms). In this post-recession environment, community banks maintain tremendous importance to lending and relationships, although their foothold is slipping. And while programs have been launched to help women and minorities launch and grow small businesses, their participation still lags, and black and Hispanic small businesses still comprise only a sliver of SBA 7(a) loan volume.

This report assists in understanding these and other trends shaping the market for small business financial services. Report analysis includes the following:

  • Moored by survey analysis (including detailed 2008-2012 trending), the report studies how small business owners, small business managers and the self-employed interact with banks, including the card brands they use and the banks with which they have relationships.
  • 2008-2012 survey trend analysis extends to small business owner, small business manager and self-employed household income; securities ownership and worth trends; and residential ownership and worth trends; as well as business purchasing decision analysis; major banks used for credit cards, banking products used; and smartphone penetration. Small business credit card growth metrics and rationales are also included.
  • Small business lending trend analysis customized to provide added granularity and narrower bank asset-size bands, for FDIC-insured commercial banks, all financial institutions submitting Reports of Condition and Income; and institutions covered by the Community Reinvestment Act (CRA) data. Analysis includes nonfarm and commercial & industrial segment analysis, and (regarding call report data) six bank asset categories, loan value segmentation, microloan analysis, and much more.
  • Trending of small business employment and firm size; degree of entrepreneurship; income and profit trends; contribution to GDP and its component industries; contribution to commercial spending; business challenges; and use of credit (trade credit, credit lines, loans, and credit cards).
  • Small business financial services strategies of American Express, MasterCard, Visa and JP Morgan Chase, with an emphasis on card programs.
  • Trends shaping mobile payments, focusing on popular small business options PayPal and Square; as well as microlending and crowdfunding trends.
  • Developments in small business credit access legislation and U.S. Small Business Association programs and trends, as well as U.S. Treasury small business lending initiatives.


  • Executive Summary
    • INTRODUCTION
  • Report Scope
    • Consumer survey methodology
    • The Market
      • The small business universe
      • Entrepreneurship
      • Net worth and profits
      • Market sizing
      • Business challenges
      • Use of credit
    • Small Business Owners, Management & the Self-Employed
      • Small business owners, management & self-employed workers: population analysis
      • Household income, securities and residential ownership trends
      • Banks used
      • Business purchasing decisions
      • Banking products used
      • Smart phone penetration & online access method/device
    • The Competitive Arena
      • Growth, for a reason
      • American Express competitive analysis
      • MasterCard competitive analysis
      • Visa competitive analysis
      • JPMorgan Chase competitive analysis
    • Small Business Lending Trends
      • A brighter, albeit tempered small business lending picture
      • Casting a wide net: FDIC-insured commercial bank analysis
      • Casting a wider net: FFIEC financial institution call report analysis
      • CRA small business loans and loan values fall off a cliff
    • Small Business Credit Card Trends
      • 2012 gives American Express an edge
      • 2008-2012 trending suggests Discover and American Express faring best
      • American Express business cards trending well
      • Small business owners card use among large banks
    • Other Small Business Financial Services Trends
      • Mobile payments on the radar
      • Disruptor #1: PayPal
      • Disruptor #2: Square
      • Microlending and crowdfunding gaining traction
    • Small Business Government Financial Services Trends
      • Small business credit access legislation
      • Small Business Administration programs and trends
      • Small Business Lending Fund
  • Overview
    • INTRODUCTION
      • Overview of Small Business
      • Definitions of Small Business
    • Small business lending
      • Federal Deposit Insurance Corporation
      • Federal Financial Institutions Examination Council
      • Community Reinvestment Act
    • Survey analysis
  • The Market
    • INTRODUCTION
    • Summary analysis
      • The small business universe
      • Entrepreneurship
      • Net worth and profits
      • Market sizing
      • Business challenges
      • Use of credit
    • The U.S. small business universe
      • Firms versus establishments; employer versus non-employer firms
      • Self-employment
    • Twenty eight million small businesses
      • Post-recession growth tilts to non-employers
        • Table 2002-2010 Small Business Growth: All Small Businesses, Non-employers & Employer Firms (w/Graphic)
      • Small business by vertical
        • Table U.S. Small Business Employer Firms & Establishments, by Industry: 2010
    • Size of the small business market: Firm share by employment size
      • Table Employers: Firms, Employees & Employees per Firm, 2010
    • Private sector job growth
    • Disproportionate job losses during recession
    • But post-recession gains on par with larger businesses
      • A job creation engine
      • Balanced by high rate of failure
    • The long story: 2007-2012
      • Recession takes largest chunk of jobs from small business
      • Smallest firms hit hardest
        • Table Cumulative Net Quarterly Employment Growth, Total Private Nonfarm & By Firm Size: 2007-2012
    • The short story: 2010 to 2012
      • Small businesses generate two-thirds of post-recession jobs
        • Table 2010-2012 Net Employment Gains: Cumulative Small & Large Business, Cumulative & Quarterly Small Business by Firm Size
    • The self-employed
      • Table Self-Employed Workers: Demographic Analysis: 2007, 2009 & 2011
    • Entrepreneurial activity
      • The Kauffman Index
      • 2011 state of affairs
      • Decline in entrepreneurial activity
      • But activity above pre-recession levels
    • Gender gap continues
    • Race/ethnicity: short-term and term-term trends
      • Long-term trends
      • Post-recession story
    • Immigrants driving business creation
    • Small business net worth trends
      • Losing ground to corporate business
        • Table Quarterly & Annual Proprietor Income and Corporate Profits: 2007-2012 (with graphic)
      • Net equity in privately held businesses consistent, but level of equity declines
    • Sizing the Market for Financial Services
      • Small business compensation-based GDP outweighs non- compensation GDP
        • Table Small & Large Business Total, Compensation & Non-Compensation GDP: 2005-2010
      • Small business GDP estimates and projections through 2012
        • Table Small Business Total, Compensation & Non-Compensation GDP: 2007-2013
    • Small business GDP analysis by industry
      • Table Small Business GPD, by Industry: 2007-2012
    • Small business compensation GDP analysis by industry
      • Trending with total small business GDP
        • Table Small Business Compensation GPD, by Industry: 2007-2012
    • Small business non-compensation GDP analysis by industry
      • Finance and insurance & construction lag
        • Table Small Business Non-Compensation GPD, by Industry: 2007-2012
    • 2010-2012 small business GDP share analysis across industries and GDP types
      • Table Small Business Total, Compensation & Non-Compensation GDP, Industry Share: 2010-2012
    • Slicing the small business market another way
      • Before the recession
      • Knee-deep in the recession
        • Table Commercial Consumption Expenditures, Percent Share by Size of Business and Spend Category & Dollar Share by Spend Category, 2009
      • Beyond recession
      • $6.1 trillion in 2013 small business spend?
    • Small business challenges
    • Lending constraints
      • Federal Reserve study says one quarter of applicants are turned down or get less credit
      • NFIB survey results more pessimistic
      • Consequences: growth inhibited, employee reduction
        • Table Percentage of Small Business Unable to Access Funding, Reasons Given & Consequences, 2012
      • Loans secured by a mixture of business and personal resources
        • Table Assets/Equity Used by Small Businesses to Secure Business Loans/Financing, 2012
      • Bank line of credit tops source for meeting capital needs, but credit cards right behind
        • Table Types of Financing Used by Small Businesses To Meet Capital Needs in Past 12 Months, 2012
      • Large banks top the list, but small community banks disproportionately represented
        • Table Types of Banking Institutions Used by Small Businesses, 2012
    • What does it take to get credit?
    • Credit use by small businesses
    • Trade credit
    • Trade credit most prevalent form of credit
      • Table Small Business Use of Trade Credit, 2010-11
    • Credit lines
      • Table Small Business Use of Credit Lines, 2009-11
    • Credit cards
      • Personal card use increases; business card use declines
      • Users carrying a balance on personal cards increases
        • Table Use of Personal and Business Credit Card for Business Purposes: 2009, 2010 & 2011
      • Business credit card use correlates with firm size
        • Table Small Business Use of Business and Personal Credit Cards, 2009-11
    • Business loans
      • Table Small Business Use of Business Loans, 2009-11
  • Small Business Owners, Management & The Self-Employed
    • INTRODUCTION
    • Summary analysis
      • Small business owners, management & self-employed workers: population analysis
      • Household income, securities and residential ownership trends
      • Banks used
      • Business purchasing decisions
      • Banking products used
      • Smart phone penetration & online access method/device
    • Owners, management & self-employed workers: population analysis
      • Table Small Business Owners, Small Business Managers & Small Business Self-Employed: 2012 Population
      • Owners, management and self-employed workers affiliated with large businesses
        • Table Large Business Owners, Small Business Managers & Small Business Self-Employed: 2012 Population
      • Note on definition exclusivity
        • Table Small Business Owners, Small Business Managers, and Small Business Self-Employed: Category Overlap
    • Small business composition
      • Self-employed, but not alone
    • Small business demographic analysis
      • A men's club?
    • Demographic analysis: small business owners, management & self-employed
    • Female small business owners, management & self-employed: demographics
    • Small business owner, management & self-employed population trends
      • Post-recession percentage of self-employed individuals declining
      • Management declines; ownership flat
    • Female, Gen Y and non-white small business population trends
      • Percentage of female self-employed individuals falls from pre-recession levels
      • Generation Y takes it in the chin, but may benefit from healing job market
    • Household income, securities and residential ownership trends
      • More than a quarter of small business owners have $150K+ in household income
      • Uptrend in self-employed & small business owner household income levels
    • Securities ownership trends
    • Residence ownership trends
      • Home ownership influences entrepreneurship
      • Small owners more likely to be home owners
      • Residence value declines noted for all adults, self-employed & small business owners
    • Bank relationships
      • Bank of America has highest number of small business owners & managers
      • Wells Fargo and Chase lag the average
      • Non-banking behemoths fare best
        • Table Small Business Owners, Managers & Self-Employed: Primary Bank Used in Past 12 Months: 2012
    • Business purchasing decisions
      • Small business owners are deeply involved in purchasing decisions
      • More likely to be involved in business purchase decisions than large business counterparts
        • Table Percentage of Business Owners, Management & Self-Employed Who Have Been Involved in Business Purchase Decision in Past 12 Months, Small Business (<500 Employees) & Large Business (1,000 Employees): 2012
      • Financial service providers should talk to the boss
        • Table Percentage of Small Business Owners & Management Who Have Been Involved in Business Purchase Decision in Past 12 Months, by Number of Company Employees : 2012
      • But involvement in a variety of types of business purchasing decisions is minimal
      • Suggesting financial services product and service upside
      • Low rate of baking services purchase decision-making suggests opportunity
        • Table Percentage of Small Business Owners, Management & Self-Employed Who Have Been Involved in Business Purchase Decision in Past 12 Months, by Type of Business Purchase Decision: 2012
    • Small business banking and investment trends
      • Tap into checking relationships and go from there
        • Table Small Business Owners: Types of Bank Accounts & Deposits Held, Percent Growth & Population Growth: 2008 vs. 2012
      • Checking and savings account penetration among self-employed above 2008 levels
        • Table Self-Employed: Types of Bank Accounts & Deposits Held, Percent Growth & Population Growth: 2008 vs. 2012
    • Small business owner investments suggest degree of wealth and opportunity
      • Retirement accounts remain underpenetrated
      • Wide ambit of investments suggests collateral at hand to back loans
        • Table Small Business Owners: Types of Investments Held, Percent Growth & Population Growth: 2008 vs. 2012
      • Self-employed with investments on the upswing
      • Self-employed also present retirement account opportunity
        • Table Self-Employed: Types of Investments Held, Percent Growth & Population Growth: 2008 vs. 2012
    • Smart phone penetration & online access method/device
      • Table Home Internet: Use, Type of Internet Service & Access Device: Small Business Owners, Management & Self-Employed: 2012
    • High-speed home internet access penetration above 70%
      • Table Home Internet: Use, Type of Internet Service & Access Device: Small Business Owners, Management & Self-Employed: 2012
    • Small business owner work internet access penetration lags managers
      • Cell phones paying a significant role
        • Table Business Internet: Use, Type of Internet Service & Access Device: Small Business Owners, Management & Self-Employed: 2012
  • The Competitive Arena
    • INTRODUCTION
    • Summary analysis
      • Growth, for a reason
      • American Express competitive analysis
      • MasterCard competitive analysis
      • Visa competitive analysis
      • JPMorgan Chase competitive analysis
    • Small business cards: A growth market
      • Table Small Business Credit Card, Charge, and Debit Spend: 2006-2012
    • Machiavelli wants to know: why the interest in small business?
    • Chasing after interchange
      • Table MasterCard Credit Card Cost of Acceptance, by Product Level and Merchant Category: 2013
    • Skirting the Credit CARD Act
      • U.S. households at risk from business credit cards?
      • Key differences between business and consumer credit cards
      • Bank of America and Capital One singled out for good behavior
        • Table Comparison of Practices: Business Credit Cards vs. Cards Protected by the Credit CARD Act
    • Small Business Growth Strategies
    • OPEN for competition
      • Membership Rewards Underpins Charge, Proprietary and Co-Brand Cards
    • Strong growth, strong spend
      • Table American Express OPEN, Growth Metrics: 2009-2012
    • Product and service developments and enhancements
    • Card developments and enhancements
      • Business Gold leading the way
      • Bolstering the Plum Card
      • Expanding savings program
      • OPEN Forum
      • Merchant financing
      • PAYVE corporate digital wallet
    • Marketing initiatives
      • Small Business Saturday
      • How they did it
      • Results
      • Big Break for Small Business
    • MasterCard
    • Growth objectives
      • An integrated approach
    • Business card programs in a nutshell
      • Table MasterCard: Selected Business Credit Cards & Features: 2012
    • MasterCard Business Network: negotiating strength for small business
    • MasterCard Easy Savings
    • Online Reporting Solutions
    • Business intelligence solutions
      • MasterCard PriceAssure
      • Corporate spending controls to increase automation
      • Microloans
    • Visa
    • Cards
      • Visa Signature Business
      • Visa SavingsEdge
    • Online small business management tools
      • VIS Select
      • Visa Payment Controls brings big-business controls to small business
      • Visa Business Network (VBN)
    • Marketing
    • Microfinance
    • JPMorgan Chase
    • Small business lending
    • Small business cards: Ink from Chase
    • Product developments and enhancements
      • Ink Plus and Ink Bold get rewards boost, but target different spend categories
    • Adding partners
      • Bringing Amazon into the fold-and beating American Express on the conversion rate to boot
      • Ratcheting up cache with Ritz-Carlton, but only for cards with cache
      • And adding Southwest Airlines for more travel options
    • Adding tools
      • What's Jot?
      • How many people use it?
      • Teaming with Expedia on travel management tools and rewards
      • Zip for anytime invoicing
    • Marketing muscle and PR win: Capital One takes it on the chin
  • Small Business Lending Trends
    • INTRODUCTION
    • Summary analysis
      • A brighter, albeit tempered small business lending picture
      • Casting a wide net: FDIC-insured commercial bank analysis
      • Casting a wider net: FFIEC financial institution call report analysis
      • CRA small business loans and loan values fall off a cliff
      • Loan demand perks up
    • Favorable lending rates persist
      • Smaller banks
        • Table Commercial & Industrial Loans Made by Large & Small Domestic Banks: Summary Analysis
      • Assessment by loan size
        • Table Commercial & Industrial Loans Made by Large & Small Domestic Banks: Analysis by Loan Size
      • SBA-backed loans garner lower rates form small banks
        • Table SBA-Backed Commercial & Industrial Loan Analysis
    • Small business expectations, credit behavior and lending sources
      • Definitions
      • Increased pessimism regarding business conditions among older firms
      • One-third seek credit, but mature firms have better luck
      • Trade credit most common
      • Community banks provide higher degree of success
      • Cash flow needs predominate
      • Banks most common avenue for financing
      • Source of start up financing
    • FDIC-insured commercial bank small business lending trends
    • Terms to set the stage
      • Banking behemoths command more than 80% of assets and deposits
      • Largest banks grow deposits, assets & share while smallest banks lose ground
      • In five years, 35% fewer banks with less than $100 million in assets
        • Table FDIC-Insured Commercial Banks: Total Assets, Total Deposits & Number of Banks, by Asset Size: 2007-2012
    • Small business nonfarm nonresidential loan trends
      • $278 billion in total nonfarm nonresidential loans: down 8% from Q3 2010 to Q3 2012
      • Smaller banks contribute disproportionately to total loan amount-and share is rising
        • Table Total Amount of Small Business Nonfarm Nonresidential Loans, by Bank Asset Size and Loan Size: 2010-2012
    • Total small business nonfarm nonresidential loan values per bank also declines
      • Total microloan value per bank drops most steeply among largest banks
        • Table Total Value of Small Business Nonfarm Nonresidential Loans per Bank, by Bank Asset Size and Loan Size: 2010-2012
    • Average small business loan values rise with bank asset size
      • But have gotten smaller at smaller banks
        • Table Average Value of Small Business Nonfarm Nonresidential Loans, by Bank Asset Size and Loan Size: 2010-2012
    • Small business commercial and industrial loan trends
      • $249 billion in C&I loans: down 4.3% from Q3 2010 to Q3 2012
      • Small banks exert less influence on C&I lending than on nonfarm nonresidential lending
        • Table Total Amount of Small Business Commercial & Industrial Loans, by Bank Asset Size and Loan Size: 2010-2012
    • Total C&I loan values per bank increases
      • Total small business value and microloan value per bank drops most among smaller banks
        • Table Total Amount of Small Business Commercial & Industrial Loans per Bank, by Bank Asset Size and Loan Size: 2010-2012
    • Average small business C&I loan values decline
      • Table Average Amount of Small Business Commercial & Industrial Loans, by Bank Asset Size and Loan Size: 2010-2012
    • FFIEC call report small business lending trends
      • $10B+ financial institutions: 1.5% of institutions; 50% of nonfarm loans; 79% of C&I loans
      • Small institutions, small asset footprint
        • Table National/State Member/Insured Nonmember Banks, Assets, Nonfarm Loans and C&I Loans, by Bank Asset Size (<$100M, $100M to $249.9M, $250M to $499.9M, $500M to $999.9M, $1B to $9.9B and $10B+): 2012
    • Per-bank analysis by asset size reveals asset and loan value differences
      • Table National/State Member/Insured Nonmember Banks, Assets, Nonfarm Loans and C&I Loans Per Bank, by Bank Asset Size (<$100M, $100M to $249.9M, $250M to $499.9M, $500M to $999.9M, $1B to $9.9B and $10B+): 2012
    • Small business nonfarm loans
      • Big banks hold minority of small business loans
      • The smaller the bank, the higher the small business loan-to-nonfarm loan rate
        • Table National/State Member/Insured Nonmember Bank Small Business Nonfarm Loans $1M & Under, by Six Bank Asset Size Categories: Number/Number per Bank, Total Amount/Amount per Bank & Average Size: 2012
    • Microloans
      • Big banks
      • Banks with <$500M in assets hold 44% of microloans by value
        • Table National/State Member/Insured Nonmember Bank Small Business Nonfarm Loans $100K & Under, by Six Bank Asset Size Categories: Number/Number per Bank, Total Amount/Amount per Bank & Average Size: 2012
    • Small business C&I loans
      • Large banks hold more dominant small business C&I loan position
        • Table National/State Member/Insured Nonmember Bank Small Business C&I Loans $1M & Under, by Six Bank Asset Size Categories: Number/Number per Bank, Total Amount/Amount per Bank & Average Size: 2012
    • Microloans
      • Small business C&I loans comprised of high percentage of microloans
        • Table National/State Member/Insured Nonmember Bank Small Business C&I Loans $100K & Under, by Six Bank Asset Size Categories: Number/Number per Bank, Total Amount/Amount per Bank & Average Size: 2012
    • Community Reinvestment Act small business loan trends
      • Benefits of CRA analysis
      • Limitations of CRA analysis
      • Framing the data
    • CRA loans and loan values fall off a cliff
      • 2011 brings volume rebound
        • Table Community Reinvestment Act Business Originations & Purchases of Small Loans to Businesses, By Size of Loan, Average Loan Size & Small Business Recipient Share: 2007-2011
  • Small Business Credit Card Trends
    • INTRODUCTION
    • Summary analysis
      • 2012 gives American Express an edge
      • 2008-2012 trending suggests Discover and American Express faring best
      • American Express business cards trending well
      • Small business owners card use among large banks
    • Small business owners: it's not business; it's personal
      • Almost half of small business owners use personal credit cards for business use
    • Card use: Small business vs. large business owners, managers & self-employed
      • American Express fares especially well
        • Table Percentage of Business Owners, Management & Self-Employed Who Use Visa, MasterCard, Discover, American Express Credit Cards, by Small Business (<500 Employees) & Large Business (1,000 Employees) Affiliation: 2012
    • Four-year trend analysis
      • American Express, Discover, MasterCard and Visa credit card usage is down
        • Table American Express, Discover, MasterCard & Visa Credit Card Usage, 2008-2012
    • But small business owner credit card usage falls more dramatically
      • Discover gains; American Express, Discover, MasterCard and Visa lose
        • Table Small Business Owners: Types of Credit Card Brands Have & Used in Past 30 Days, Percent Growth & Population Growth: 2008 vs. 2012
    • Small business management trends more positive
      • Discover and American Express use trends positive; MasterCard and Visa trends negative
        • Table Small Business Management: Types of Credit Card Brands Have & Used in Past 30 Days, Percent Growth & Population Growth: 2008 vs. 2012
    • Small business self-employed trends resemble management trends
      • Discover use trends positive; American Express, MasterCard and Visa trends negative
        • Table Self-Employed: Types of Credit Card Brands Have & Used in Past 30 Days, Percent Growth & Population Growth: 2008 vs. 2012
    • Business credit card usage and brand share
      • Table Visa, MasterCard and American Express Business Card Usage & Brand Share Among Business Owners/ Self-Employed, <500 & 500+ Employee Company Size: 2012
    • Four-year trend analysis
      • Among small business owners, American Express Gold the big winner
      • American Express Gold usage a bright spot; others falter
        • Table Small Business Owners: Types of Business Credit Cards Have & Used in Past 30 Days, Percent Growth & Population Growth: 2008 vs. 2012
      • Among small business managers, American Express cards gain traction; Visa and MA dive
        • Table Small Business Management: Types of Business Credit Cards Have & Used in Past 30 Days, Percent Growth & Population Growth: 2008 vs. 2012
      • And among self-employed, it's . . . American Express!
        • Table Self-Employed: Types of Business Credit Cards Have & Used in Past 30 Days, Percent Growth & Population Growth: 2008 vs. 2012
    • Bank issuer credit card penetration: small business owners, managers & selfemployed
      • Small business owners most likely to choose Bank of America
        • Table Small Business Owners, Managers and Self-Employed: Credit Card Issued by Bank Used in Past 12 Months: 2012
    • Small business owners, managers & self-employed share of card usage
      • SunTrust has highest share of small business owners/managers
        • Table Bank Issuer Credit Card Portfolios: Share of Small Business Owners, Managers and Self-Employed: 2012
  • Other Small Business Financial Services Trends
    • INTRODUCTION
    • Summary analysis
      • Mobile payments on the radar
      • Disruptor #1: PayPal
      • Disruptor #2: Square
      • Microlending and crowdfunding gaining traction
    • Mobile payments
    • Paypal
    • Bill Me Later
    • Zong
    • 100 million accounts and counting
    • The PayPal P2P usage base
      • Table Domestic PayPal Person-to-Person Money Sending/Receipt, by Demographic: 2012
    • Online and mobile capability
    • PayPal Wallet
    • PayPal Here: POS solution
    • The Discover network connection
    • The card you use to pay matters: lower interchange
    • Location-based mobile advertising
    • Addressing fraud
    • Square, Inc.
    • How much it costs
      • Table Square Pricing Options & Fees
    • How it works
      • Open tab feature
      • Loyalty tracking
      • Security
    • Tools
      • Square Card Reader
      • Square Register
    • Starbucks breaks it wide open
      • Starbucks
    • Other product innovations
    • Bank of America
    • Microloans
      • Small-dollar loans
      • Rather unsavory terms
      • Not much small-dollar movement among banks
      • Microloan definitions and dollar amounts
      • Microloan funders
      • Microloan funding sources
    • Newer players step into microlending
      • Walmart and Sam's Club small business lending
      • Initial pilot
      • Off to a good start
    • Peer-to-peer lending
      • Prosper.com and LendingClub.com drive 300% growth in loan volume over four years
    • Crowdfunding
  • Small Business Government Financial Services Trends
    • INTRODUCTION
    • Summary analysis
      • Small business credit access legislation
      • Small Business Administration programs and trends
      • Small Business Lending Fund
    • American Recovery and Reinvestment Act of 2009
    • Small Business Jobs Act of 2010
      • State Small Business Credit Initiative
    • Jumpstart Our Business Startups Act
    • Community development initiatives
      • Community Development Financial Institutions Fund
      • Community Development Capital Initiative
    • Small Business Administration Programs
    • Post-recession trends
      • Increased SBA lending
      • Decreased fees
      • Larger loan sizes
      • Increased private lender commitments
    • SBA 7(a) Loan Program
      • $15.2 billion in 7(a) loans
        • Table SBA Gross Business Loan Approval, Loan Number & Average Volume, Share by Demographic, 7(a) Loans: 2012
      • 2009-2012 7(a) loan volume jumps dramatically, but 2012 shows decline
        • Table SBA Gross Business Loan Approval, Loan Number & Average Volume, Startups vs. Existing Businesses, 7(a) & ARC Loans: 2009-2012
      • Share of loans to women and rural areas declines
      • 2012 brings loan volume and value declines to rural communities and veterans
        • Table SBA Gross Business Loan Approval, Loan Number & Average Volume, Minority, Rural, Women, Veterans & Low-Value Loans, 7(a) & ARC Loans: 2009-2012
    • Top SBA 7(a) bank lenders
      • Well Fargo leads by a mile on total value
        • Table Top 15 SBA 7(a) Lenders, 2011 vs. 2012
    • SBA 504 Certified Development Companies
      • Refinancing option
    • Small Business Investment Company Program
      • Record performance
    • CAPLines to meet short-term needs
    • Microloan Program
    • Investing in underserved communities
    • Providing early-stage startup capital
    • Providing onshoring incentive
    • Nonprofit intermediary assistance
    • Equal access for underserved communities
    • Assisting women-owned small businesses
    • Assisting veterans
      • Rural America initiatives
    • Small Business Lending Fund
      • $4 billion invested
      • Participating institutions make progress

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