Small Business lending in Winconsin has gone up by 51 percent since 2007 according to the Wisconsin Credit Union League reports. Business lending of Winconsin banks increased 4.4 percent. Credit Union loans to member businesses also got a hike from $1.5 billion to $2.3 billion. Banks increased its business loans from $29.6 billion to $30.9 billion.
Scorecard for Wisconsin Credit Unions shows that credit unions’ have increased their business lending. This happened at a time when banks started to make business credit available to small businesses. The figures are compiled from the report of ‘National Credit Union Administration’ and ‘Federal Deposit Insurance Corporation’.
Business loans are defined as commercial real estate, farm and farmland loans, commercial and industrial loans. As of now, there are 211 Credit Unions in Wisconsin that are owned by 2.2 million members.
Details are also been provided in the report about Credit Union’s efforts in community support, financial education, consumer lending, mortgage services, and other financial services.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com