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Fast Facts: STATE OF SMALL BUSINESS

FACT: Last September, 13 major banks committed to increase lending to small businesses by $20 billion over the next three years. Banks are on track to keep those commitments. FACT: Small business lending in July was 15% higher than last year, according to the Thomson Reuters PayNet Small Business Lending Index released on September 4, 2012. The Index measures the volume of new small business loan originations to capture the expansion activity of small businesses. FACT: Nearly $590 billion of small business loans are outstanding, according to FDIC call report data. Commercial banks with over $10 billion in assets are responsible for over 40% of these small business loans. FACT: 93% of all small business owners report all their credit needs are met or they are not interested in borrowing, according to the National Federation of Independent Businesss (NFIB) Small Business Index. FACT: Only 3% of small business owners report financing as their top business problem, compared to 21% citing taxes and 21% citing unreasonable regulation, according to NFIB. FACT: Todays economic environment remains a challenge for many companies. According to the U.S. Chamber of Commerces Small Business Survey released on July 16, 2012: Only one in five small businesses expect to add employees in 2013; 82% think the economy is on the wrong track; Nine out of ten small businesses are concerned about Congress ability to reach consensus on the fiscal cliff; 59% say failure to address the fiscal cliff will have a direct impact on their companys growth. Financial Services HOTLINE: If you have questions about this topic or any other issue facing financial services, please reach out to Abby McCloskey, Director of Research at the Financial Services Roundtable, at 202-589-2531 or Scott Talbott, Senior Vice President of Government Affairs, at 202-289-4322. Learn more about the Financial Services Industry at www.OurFinancialFuture.com. OurFinancialFuture.com is continuously updated to bring you the most useful information about the industry in real-time.
View all previous Fast Facts at www.RoundtableResearch.org For over 100 weeks, the Roundtable has delivered Fast Facts to select opinion leaders in the financial services industry, Congress, and media. Fast Facts provides easy-to-understand, reliable research about current issues facing the financial services.

September 2012