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Small-business lending approval rates at big banks and institutional lenders reached post-recession highs in December, while small banks and alternative lenders have seen fewer completed deals, according to Biz2Credit data.
January 13 -
Biz2Credit, an online lending marketplace geared toward small businesses, has received a $250 million investment capital agreement from Direct Lending Investments, a fund that purchases small business loans through online and peer-to-peer lending platforms.
December 29 -
Approval rates for small-business loans dropped at big banks for the first time in seven months, as nonbanks continue to grant loans at a much more generous pace.
November 11
DNB Financial in Downington, Pa., has formed a business banking services division.
The $723 million-asset company said in a press release Friday that the unit will lend to Philadelphia-area businesses, including those in southern New Jersey and northern Delaware. The unit "will support businesses of all sizes, with an added focus on smaller clients," the release said.
DNB "understands how important small businesses are in boosting local economies," Vince Liuzzi, the company's chief banking officer, said in the release. "We are committed to providing the expertise and credit business owners need to grow and manage their businesses."
DNB also said that it had hired Nabila Sajid, formerly of Wells Fargo, as senior vice president of commercial lending.
"We are delighted to have Nabila heading up a team of commercial lenders," Al Melfi, DNB's chief lending officer, said in the release. "Her extensive experience in C&I lending will be pivotal in helping DNB serve an increasing number of businesses, and will boost our market share."
