NEW YORK--(BUSINESS WIRE)--
Chase supposing $20.2 billion in new credit to American tiny businesses during 2012, an 18 percent enlarge over 2011. Small business loan expansion was many poignant in California, Florida, Louisiana, Nevada, Oregon and Washington.
Chase done more than $1 billion in new loans to tiny businesses in any of Illinois, New York and Texas. In California alone, Chase lengthened scarcely $7.5 billion of new credit to tiny businesses, 58% aloft than 2011 lending levels. Chase continues to be the nation's #1 SBA lender by units, commendatory 40% more SBA loans than its nearest competitor.
"Chase is really unapproachable to associate with tiny businesses around the country, providing funds and other financial services that help companies grow," mentioned Scott Geller, CEO of Chase Business Banking. "Our follow record as a heading tiny business lender demonstrates the continuing undertaking Chase has to fuel the engine of the American economy."
Chase serves tiny businesses by Business Banking, Ink from Chase credit cards and Chase Merchant Services. Small business lending normally includes credit lengthened to businesses with beneath $20 million in sum annual revenue.
About Chase
Chase is the U.S. consumer and blurb promissory note business of JPMorgan Chase Co. ( JPM ), a heading universal financial services definite with properties of $2.3 trillion and operations in more than 60 countries. Chase serves more than 50 million consumers and 4 million tiny businesses by more than 5,500 bank branches, 17,500 ATMs, credit cards, housing loan offices, and online and mobile promissory note together with by interaction with vehicle dealerships. More data about Chase is existing at www.chase.com and @ChaseNews .