Guess what’s been happening in the financial industry over the last few months? The banks have quietly turned on the lending spigot.
After several quarters of having their loan balances plunge or flatten out, several of the nation’s biggest banks are reporting increases.
Wells Fargo executives said new loan commitments to small businesses were up 8 percent, while lending to bigger companies has been growing for 14 months in a row.
(READ the full story from the NY Times)
ACTION: The next time you hear someone say banks aren’t lending, please correct them and refer them to this NY Times article.