A national 16 year low for lending activity in 2011 and the continued decline in applications isn’t stopping South Florida’s local financial institutions from helping out small businesses, especially when the loan is for commercial real estate, according to Miami Today. Banks like Ocean Bank, TD Bank, PNC Bank and various credit unions have all expressed increased confidence in start-ups and small businesses and have lent the money to prove it.
Ocean Bank allows businesses that that don’t meet their underwriting criteria to collaborate with the Small Business Association to get a loan. In 2011, PNC issued 326 SBA-backed loans totaling $100 million. TD Bank lent throughout the recession and has become the third largest SBA lender in the Florida.
“Small business is the backbone of the national economy and the local economy as well as the bank’s market here,” Sam Monti, Ocean Bank’s executive vice president and chief credit officer, said. “We are very interested in small business lending and very active there [in South Florida].” [Miami Today] — Christopher Cameron