Commercial lending

Lake Trust Credit Union in Brighton, Michigan, works with a development agency in Lansing to provide entrepreneurs with the financial and educational support they need to go it alone.

As it pushes the boundaries of its Midwestern footprint, the Columbus, Ohio-based bank is on pace to book more than 6,000 7(a) loans in SBA's 2023 fiscal year, the biggest total in seven years.

The pro football league plans to borrow up to $78 million over the next three years from 16 financial institutions, most of which are Black-owned or Black-led. It follows the lead of Major League Soccer, which announced a similar plan last year.

New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.

Both loan demand and credit availability have contracted sharply, according to senior executives at several of the nation's largest banks. Their comments came against the specter of a potential recession.

When the once-ubiquitous interest rate goes away at the end of June, some businesses that have older loans may see a sudden jump in their payments. Banks, lawyers and business leaders are doing last-minute work to avoid that scenario.

Nearly two out of three finance chiefs surveyed by Piper Sandler said they were most worried about deposit costs in the aftermath of recent bank closures. Only 7% cited credit quality as their top reason for unease.

The intersection of fintech and ag banking is still ripe for innovation. Banks and fintechs are looking for specialized solutions for their ag customers, from harvesting data to managing cash flow fluctuations.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

Lenders in coveted locations with stable deposit bases are bullish about their expansion opportunities despite the shadow the banking crisis and recession fears have cast on the rest of the industry.

After the departure of a key Small Business Administration official, lawmakers from both parties are calling on the SBA's chief to delay rules that could open the agency's biggest lending program to more nonbanks — or even consider reversing the changes.

The Florida lender hired corporate bankers in New York City who had previously worked at First Republic Bank, which collapsed last week.

The Federal Reserve's survey of senior loan officers is being closely watched since it follows the recent turmoil in the banking industry, which has prompted concerns that a pullback in bank lending could slow economic growth.

The fund, which aims to create a self-sustaining, nationwide secondary market for CDFI microloans, has made progress, but it remains far short of its goal, its managing director said.

Banks grappled with a litany of questions throughout earnings season about the likelihood of a recession and the potential for increased pressure on commercial real estate borrowers.

The 34-page document demands that the bank get regulatory nonobjection for every new fintech partnership and requires the bank to step up its monitoring of partners' compliance with banking laws.

BayFirst Financial, which says it lost $1.6 million when a planned Small Business Administration loan sale to Signature fell through, plans to file a claim for the lost revenue with the Federal Deposit Insurance Corp.

The Minneapolis bank has launched a special-purpose credit program that aims to help businesses owned by women, minorities and veterans. Borrowers with comparatively low credit scores and cash flows will qualify for lending products of up to $2.5 million.