Blog Posts in category: small business lending

Playing to Your Community Bank’s Strengths to Win Over Small Businesses

A recent Cornerstone analysis of 4,700 banks and credit unions revealed that only about one in seven banks and credit unions had a concentration in small business lending of at least 20%. “That’s a huge opportunity,” John Meyer, senior...

Small Business Lending – Banking on Relationships

Despite borrowing costs reaching new highs, the anticipated credit crunch has yet to materialize, especially for small businesses. According to an article in Reuters , 28% of firms surveyed by the National Federation of Independent Business (NFIB) borrowed on a...

From Startup to Prosperity: How Credit Unions Fuel Business Dreams

Small businesses are the lifeblood of the American economy, and banking is the heart that keeps it pumping — and within the banking industry, there is no segment that has more heart for their borrowers than Credit Unions. I recently...

The “Do’s” of Preparing for Dodd-Frank 1071

In banking, keeping up with compliance is a full-time job and Section 1071 is the latest example of that. At the end of March 2023, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final rule to implement Section 1071...

Texas Hold 'Em or Fold 'Em: Section 1071 CFPB Small Business Lending Rule

Yesterday, July 31, the U.S. District Court for the Southern District of Texas issued a limited preliminary injunction on the Small Business Lending Rule (Section 1071) for banks that are part of the Texas Bankers Association (TBA) and/or the American...

Embracing Section 1071: A Win-Win for Banks and Borrowers

There are things I like to embrace. I have five kids and an amazing wife, and they know I am a hugger. I have some of the best life-long friends; they also know that I like to wrap my arms...
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