Banks expect business loans to grow 8% this year

Bank loans to businesses will grow by more than 8 percent this year, according to the American Bankers Association’s economic advisory committee.

That’s about the same rate of growth for business lending that banks saw in 2015.

“The economy may have challenges to address, but the availability of bank credit is not one of them,” said committee Chairman Carl Tannenbaum, chief economist for Northern Trust in Chicago.

Demand for business loans is strong, and banks aren’t facing as many restrictions… …read more