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Fast Facts: ROUNDTABLE SMALL BUSINESS SURVEY

The Financial Services Roundtable surveyed its membership this month to see what individual companies are doing to support small business. We found that in 2012, member companies: Increased small business lending by more than $11 billion Added thousands of new small business customers Provided innovative 401(k) offerings for small businesses Developed award-winning online platforms for small businesses Below is a selection of member company responses about how they are improving small business lending:

Increased Lending
Wells Fargo, Regions, Citi, U.S. Bank, SunTrust, M&T Bank, Huntington, Bank of America, PNC, KeyCorp, JP Morgan Chase, TD Bank, Citizens Financial Group collectively increased small business lending by <net> $11 billion this year, over half of the industrys three-year goal with the Small Business Administration. In 2012, U.S Bank increased loan originations to small businesses by 13% from 2011 levels and increased the small business specialist staff by 30%. In the first half of 2012, PNC originated or committed $2.5 billion to small businesses. PNC added 56,000 new small business customers through July 2012. BBVA Compass increased the number of small business loans by almost 50% in the year ended August 2012. Wells Fargo extended $7.4 billion in net new loan commitments to small businesses across the U.S. (primarily with annual revenues less than $20 million) in the first half of 2012 about a 32 percent increase from the same period a year ago. For three consecutive years, Wells Fargo has been the nations No. 1 SBA lender in dollar volume (2009-2011 U.S. Small Business Administration data), approving a record $1.2 billion SBA 7(a) loans in federal fiscal year 2011. M&T Bank has increased small business lending by $196 million since last year, nearly quadrupling its 2011 pledge to boost loans by $50 million. Citi surpassed its 2011 lending goal for small businesses, committing $7.8 billion last year up from $4.5 billion in 2009. This funding represents the first of a three year commitment to lend $24 billion to small businesses. September 2012

SunTrust increased SBA lending to existing and new small business clients by 56% in FY 2011. In 2012, TD Bank continued to lend to small businesses throughout its Maine to Florida footprint, including over $260 million in SBA financing through August 31. BB&Ts Commercial and Branch based delivery channels made over 20,000 extensions of credit totaling $3.2 billion year-to-date 2012. KeyBank has doubled its annual SBA production since 2009 and met their SBA lending commitment two years ahead of schedule. The U.S. Small Business Administration named KeyBank the 2012 Large 7(a) Lender of the Year.

Small business support is about more than lending. Business insurance, financial planning, disaster response, and other financial services are crucial for small business. Below is a selection of member company responses about how they are supporting small business in other ways:

Non-Lending Support
ING U.S. launched a new program in 2012 that allows small employers to offer a guaranteed retirement income option to employees who are investing in their company's 401(k) plan. It also introduced two new voluntary group insurance products that allow businesses to make critical illness and accident insurance coverage available to their workforce. Fulton Financial Corporation (FFC) Retail Bank Branch Managers are now goaled monthly on Small Business sales (loans and deposits). FFC also presents a Small Business webinar annually where an expert presents economic data on a global, national and regional level. The Hartford continues to provide award-winning tools and educational resources that help small business owners understand insurance and feel confident about what theyre buying. It launched an interactive online guide to explain workers compensation in simple English. Wells Fargo offers business owners an online financial education portal called the Business Insight Resource Center (www.wellsfargobusinessinsights.com). Business owners can explore award-winning videos, articles, podcasts, and other resources covering a wide range of business topics including credit, cash flow management, and real estate. Business owners looking for information on how to establish, improve or apply for credit can now access the Business Credit Center on the Business Insight Resource Center. U.S. Bank launched Connect this year, a website for small businesses and a new charge card for small businesses that don't want to carry a balance. Capital One launched Spark Business in 2011, a new line of credit cards offering small business owners the ability to earn best-in-class rewards with every purchase, including 2 percent cash back with no limits (Spark Cash), or double miles on every purchase with no exceptions or expiration dates, and the flexibility to fly free on any airline, any time (Spark Miles). Capital One also launched Clear Interest September 2012

Business Checking last year, a first-to-market, high-interest checking account for businesses, helping time-strapped small business owners simplify money management. It is one of the first high-interest checking accounts offered for small businesses since 1933. PNC is building a small business version of its popular PNC Virtual Wallet online tool to help small businesses better manage their finances.

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 Public Policy, 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