Commercial lending

A new group called MoreThanFair aims to establish the lines between fair and unfair lending, to set best practices for the use of AI in lending and to lessen the stigma of fintech lenders.

Bank of America says August was its best month ever for Small Business Administration lending and that it's optimistic a new program supporting women and minority commercial real estate borrowers could boost production even more.

Lenders are extending credit to corporate suppliers, helping them get paid earlier and keeping goods flowing. But the growth in the sector carries certain risks, too.

The Delaware-based bank sees a particular opportunity to serve senior living communities and long-term care facilities. It has hired Kevin McKeown from Fulton Bank to run the new group.

BofA has launched two programs, one focused on increasing homeownership for Black and Hispanic Americans, and the other on small businesses owned by women and minorities that buy commercial real estate in federal opportunity zones.

Data as of Jun. 30, 2022. Dollars in thousands.

Bank lending activity grew at a strong clip in the second quarter and continues to expand. Yet rising interest rates and recession concerns could hamper future growth.

Data as of Mar. 31, 2022. Dollars in thousands.