Two years after 13 of the nation's largest banks pledged to collectively increase lending for small businesses by $20 billion over the course of a three-year commitment, the SBA has provided an update.
The banks involved have already increased their total lending by roughly $17 billion over the past two years, putting them on track to meet their goal by the end of 2014, the SBA said last Friday.
The banks participating in the commitment are Wells Fargo, Key Corp, Regions Financial Corp., Huntington Bancshares Inc., M&T Bank Corp., JPMorgan Chase & Co., Citizens Financial Group Inc., Citigroup, Bank of America Merrill Lynch, TD Bank, US Bank, PNC Bank and Sun Trust Banks.
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