We look at trends and current conditions in the district’s banking and financial services industry.
The information available to prospective borrowers on small business online lender websites varies widely, and it is not unusual for lenders to detail terms in footnotes, fine print, or frequently asked questions (FAQs). Read more.
Though they represent a small share of total small-business lending, nonbank online lenders are a growing source of small-dollar credit for small businesses. Which businesses sought funds through online sources? How successful were their borrowing experiences? Find out
Land contracts, when appropriately administered, allow low-income individuals who might not qualify for conventional bank-financed mortgages a chance to become homeowners. Read More
What’s one key element to drive funding to low-income areas of the country? Meaningful and productive partnerships between banks and community-based organizations (CBOs). Read More
The 2017 SBCS provides insights on business conditions and access to financing for nonemployer firms—those with no employees other than the owner(s). Findings show these firms often rely on their owners' personal finances to secure credit, address financial challenges, and fund their business operations. Read more.