WASHINGTON — Though President Obama has pledged to divert billions into community banks willing to make small-business loans, many financial institutions say loans to smaller firms are falling into delinquency at a high rate.

More than half — 55.6% — of respondents to a Federal Reserve Board survey released Monday said the rate of delinquency on commercial and industrial loans to small firms is "moderately higher" than similar loans made to large firms. Another 13% said the loans to small firms fall into delinquency at a "substantially higher" rate.

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