Chase Lent $10 Billion To Small Businesses In First Half Of 2012

The nation’s #1 SBA lender, Chase booked $10 billion in small business loans through the first half of 2012, a 35 percent increase over the same time last year. Loan growth from first to second quarter was strongest in California, Florida, Nevada, New Jersey, New York and Washington. In the second quarter, Chase lent small businesses in California 52 percent more than in the first quarter and 81 percent more than a year ago.

“We know how important small businesses are to the economy, and $10 billion in loans to these businesses says how important they are to Chase,” said Scott Geller, CEO of Chase Business Banking. “Helping business owners succeed is what thousands of Chase employees proudly do every day.”

Improved credit performance among current loan customers is a sign that small businesses are faring better. Net charge-offs for Chase Business Banking loans were down 29 percent from last year to the lowest level in more than three years.

Chase upheld its #1 SBA ranking through three quarters of the U.S. Small Business Administration’s fiscal year, approving more loans than any other bank. Through June 30, 2012, Chase approved 3,338 SBA 7a and Express loans for $385 million.

Chase ranked among the top three SBA lenders in several states, including:

				Arizona					Louisiana
				California					Michigan
				Colorado					New Jersey
				Florida					New York
				Georgia					Ohio
				Illinois					Texas
				Indiana					Utah

To support the short-term, working capital needs of small businesses, Chase recently launched the SBA CAPLine program. With revolving lines of credit up to $5 million, the SBA CAPLine is ideal for growing companies looking to expand products or services.

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