Chase has exceeded its goal of providing US$10bn of credit to American small businesses in 2010. The loans were extended to more than 250,000 small businesses with annual sales of less than US$20m by Chase’s business banking, commercial banking and business card businesses. Year-to-date, Chase’s lending to small businesses is up more than 40%.
“Small businesses are putting these loans to use every day in cities and towns all across the country, creating jobs and helping our economy get back on its feet,” said Michael Cleary, chief executive officer (CEO) of business banking in retail financial services.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.