Michigan rises above surrounding area when it comes to small business lending

The cream rises to the top. And, in this case, it’s Michigan. In the surrounding areas the state compares pretty good when compared to its neighbors when it comes to small-business lending practices. It’s a hopeful little stat to think about.

Excerpt:

When it comes to small-business lending, Michigan fares well in comparison to surrounding states, according to a report issued this week by the Michigan Economic Development Corp.

The purpose of the study was to gauge the amount of funding available to small businesses.

Michigan banks have moderately sized small-business lending practices and appear to pursue small-business loans aggressively, and the state’s number of loans per institution, loan volume and dollar value of small business loans is “solid,” the study found.

Read the entire article here.