Bankinggrades.Com Connects Small Businesses With Banks That Lend
Every FDIC insured bank in America is graded for their small business loans
/EINPresswire.com/ Broad Axe, PA - May 16, 2012 -- The month of May is host to Small Business Week, a time to recognize the contributions that small businesses make in our country. "One of the biggest challenges that small businesses face is access to capital," says Ami Kassar, CEO of MultiFunding, a small business financial advisory firm. "We decided to give small businesses a gift this year - Banking Grades (www.bankinggrades.com)--to help them find local banks that are friends of small business."
Banking Grades is a proprietary online tool that grades every bank on its commitment to small business lending. Using public data from the Federal Deposit Insurance Corporation (FDIC), Banking Grades compares the amount of a bank's deposits to the amount of loans that bank has made to small businesses. These loans are $1,000,000 or less. "Based on our experience of helping small businesses find financing, we believe that a one million dollar loan is a good barometer of small business lending," explains Kassar.
Anyone can search on Banking Grades for an FDIC regulated bank by name, zip code, city and/or address. Banks that make the most loans to small businesses, proportionately to their deposits, receive an A. Conversely, banks that are not making small business loans receive an F. There are thousands of banks in between. "It is our hope that small business owners will use this tool to find local banks that will lend to them. All banks have money, but the biggest one, or the closest one to your business, isn't necessarily the one focused on the needs of small businesses," says Kassar.
Banking Grades gives an A grade to 2,693 banks in America. In order to receive an A grade, a bank needs to utilize 25 percent or more of its domestic deposits to make small business loans. The following ten states have the highest number of A grade banks with headquarters in their states.
Minnesota 242 A banks
Iowa 216 A banks
Texas 162 A banks
Illinois 160 A banks
Missouri 137 A banks
Nebraska 134 A banks
Wisconsin 132 A banks
Kansas 128 A banks
Oklahoma 95 A banks
California 81 A banks
Banking Grades is sponsored by Hana Small Business Lending, The Receivables Exchange and IOU Central. For more information about MultiFunding, visit www.multifunding.com. For more information about Banking Grades, visit www.bankinggrades.com.
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/EINPresswire.com/ Broad Axe, PA - May 16, 2012 -- The month of May is host to Small Business Week, a time to recognize the contributions that small businesses make in our country. "One of the biggest challenges that small businesses face is access to capital," says Ami Kassar, CEO of MultiFunding, a small business financial advisory firm. "We decided to give small businesses a gift this year - Banking Grades (www.bankinggrades.com)--to help them find local banks that are friends of small business."
Banking Grades is a proprietary online tool that grades every bank on its commitment to small business lending. Using public data from the Federal Deposit Insurance Corporation (FDIC), Banking Grades compares the amount of a bank's deposits to the amount of loans that bank has made to small businesses. These loans are $1,000,000 or less. "Based on our experience of helping small businesses find financing, we believe that a one million dollar loan is a good barometer of small business lending," explains Kassar.
Anyone can search on Banking Grades for an FDIC regulated bank by name, zip code, city and/or address. Banks that make the most loans to small businesses, proportionately to their deposits, receive an A. Conversely, banks that are not making small business loans receive an F. There are thousands of banks in between. "It is our hope that small business owners will use this tool to find local banks that will lend to them. All banks have money, but the biggest one, or the closest one to your business, isn't necessarily the one focused on the needs of small businesses," says Kassar.
Banking Grades gives an A grade to 2,693 banks in America. In order to receive an A grade, a bank needs to utilize 25 percent or more of its domestic deposits to make small business loans. The following ten states have the highest number of A grade banks with headquarters in their states.
Minnesota 242 A banks
Iowa 216 A banks
Texas 162 A banks
Illinois 160 A banks
Missouri 137 A banks
Nebraska 134 A banks
Wisconsin 132 A banks
Kansas 128 A banks
Oklahoma 95 A banks
California 81 A banks
Banking Grades is sponsored by Hana Small Business Lending, The Receivables Exchange and IOU Central. For more information about MultiFunding, visit www.multifunding.com. For more information about Banking Grades, visit www.bankinggrades.com.
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