Since 2000, the overall volume of business lending per capita at banks has grown by 26 percent, but this expansion has entirely benefited large businesses. Small business loan volume at banks is down 14 percent and micro business loan volume is down 33 percent. … Read More
Over the last few years, the U.S. Small Business Administration (SBA) has dramatically reduced its support for smaller small businesses and shifted more of its loan guarantees to larger small businesses.… Read More
To regenerate local businesses, we’ll need more than Buy Local campaigns; we’ll need to change public policy, which now favors big business. In this presentation, Stacy Mitchell looks at seven key policy areas to focus on.… Read More
Local farms, independent retailers, and community banks are all experiencing newfound public support. While these trends are encouraging, local businesses still account for only a small share of the economy. In this 15-minute talk, given in May 2012, ILSR’s Stacy Mitchell presents a compelling case for moving local enterprises from the economy’s margins to its mainstream.… Read More
While just 24 percent of big banks offer totally free checking, more than 60 percent of credit unions and small banks do, according to a new report from the U.S. Public Interest Research Group. The report also found that credit unions and small banks have lower fees on average and do a better job of disclosing fees to prospective customers.… Read More
A critical function of our banking system is financing small businesses. But big banks are doing a rotten job of it. At the nation’s largest banks, small business lending has plunged 33% since 2009. Trying to cajole or compel them to do more won’t make much difference because the problem is largely inherent to their scale.… Read More
Although they control only 21% of U.S. bank assets, small and mid-sized banks provide 54% of small business loans. … Read More
As a share of their total assets, small business lending at the nation’s largest banks fell by 33% in three years. … Read More
In this cover story for Sojourners Magazine, Stacy Mitchell writes that there is remarkably little evidence to support the idea that bigger banks are superior. They have come to dominate, not because they are more efficient or offer better services, but because they have rigged government policy in their own favor. It’s time for a new set of rules—banking policies for the 99 percent.… Read More
