Encouraged by signs that the recovery may be gaining traction, some bankers said they are planning to increase their small business lending efforts this year.
According to a survey of 409 bankers conducted by loan and credit training firm Omega Performance, 77% of respondents said they were likely to increase their small business lending activity. For those banks that don't offer small business products and services, 78% said they were planning to actively pursue offering them.
Bankers said small business activity (78.3%) is the top area that they plan to actively pursue this year, followed by medium and large business (66%), consumer (59%), individual housing (42%), credit cards (32.5%), auto loans (31.6%), multifamily housing (23.1%), construction (14.2%) and other activities (8.0%).
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