FOR IMMEDIATE RELEASE
Nation’s Community Banks Key to Small Business Lending
ICBA Community Banking Month Recognized in April
Washington, D.C. (April 5, 2010)—As the Independent Community Bankers of America recognizes April as ICBA Community Banking Month, our nation’s nearly 8,000 community banks continue to play a key role in supporting small business lending in cities and towns throughout America.
“In today’s challenging economic environment, small businesses need even greater access to credit, and community banks nationwide are stepping up to the challenge,” said Jim MacPhee, ICBA chairman and CEO of Kalamazoo County State Bank in Schoolcraft, Mich. “Small business lending has always been a cornerstone of community banking, and ICBA Community Banking Month gives community banks across the country an opportunity to recognize their small business customers and the important role that they play in supporting local job creation and a healthy local economy.”
Community banks provide a substantial number of small business loans across the country, including Small Business Administration (SBA) loans. Community banks nationwide continue to serve small businesses with conventional and SBA loans. For their size, community banks are prolific small business lenders, providing more than half of small business loans of $100,000 and under and nearly one-third of small business loans under $1 million.
Each year, thousands of community banks recognize ICBA Community Banking Month in a variety of ways. Whether they host special events with local charities, promote economic-development initiatives or offer programs to boost financial literacy, community banks continue to enrich their communities and the lives of their customers.