FOR IMMEDIATE RELEASE
Nation’s Community Banks Key to Small Business Lending
ICBA Community Banking Month Recognized in April
Washington, D.C. (April 13, 2009)—As the Independent Community Bankers of America (ICBA) recognizes April as ICBA Community Banking Month, our nation’s more than 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 capital and community banks nationwide are stepping up to the challenge,” said R. Michael Menzies, ICBA chairman and president and CEO of Easton Bank and Trust, Easton, Md. “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 amount of small business loans across the country, including Small Business Administration (SBA) loans. ICBA supports SBA loan programs and federal policies that foster a vibrant small business sector. Community banks nationwide continue to participate in these SBA guaranteed lending programs that provide needed capital to small businesses within their communities. In fact, according to the SBA, community banks provide 35 percent of the total dollar amount of loans to small businesses under $1 million dollars.
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 lives of the customers they serve.
For more information about ICBA and ICBA Community Banking Month, visit www.icba.org.