By mid-year 2013, SBA lending volume increased 80% over the previous 12 months. Institutions that never before considered making SBA loans have changed their minds about offering these credits with good reason. With the experts at Gro With Us simplifying the process, bankers easily reap the advantages that government-backed lending offers.
Consider the benefits of SBA lending for your bank:
- Non-interest fee income
- Lenders stand to generate significant income, while government guarantees help to mitigate their capital leverage issues.
- Competitive advantage
Making more loans in your local market will help you compete more effectively and the business you attract through SBA and USDA lending can enhance brand loyalty for your bank.
Small businesses (such as medical practices, professional services and others) prove to be, on average, 250% more profitable than consumer relationships.
Lending relationships can result in growth opportunities for your institution, often attracting other deposits and expanding the utilization of other products you offer.