Thirteen banks have committed to increase lending by $20 billion to small businesses over the next three years.
The announcement was made by Vice President Joe Biden and SBA Administrator Karen Mills Tuesday as both urged Congress to pass the American Jobs Act.
The banks that said they will increase small business lending by a combined $20 billion are Wells Fargo, Key Corp., Regions Financial Corp., Huntington Bancshares Inc., M&T Bank Corp., JP Morgan Chase & Co., Citizens Financial Group Inc., Citigroup, Bank of America Merrill Lynch, TD Bank, US Bank, PNC Bank NA. and Sun Trust Banks Inc.
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