April 9, 2013 — A recent survey conducted by the Oregon Bankers Association shows that banks in the state extended more than $61 billion in total credit in 2011, with $2.7 billion dollars in loans to Oregon small businesses.
In 2011 alone, a total of 76,727 loans were made to Oregon small businesses. This represents an increase of $277 million and 11,254 loans made to small businesses over the prior year (2010).
The survey also showed that Oregon banks reported annual contributions to nonprofit and charitable organizations in excess of $14 million. In a single year, over 1,400 organizations were the beneficiaries of donations made by Oregon banks. Employees of Oregon banks also gave back to their communities personally, with over 229,000 hours of volunteer time invested.
The impact of Oregon banks’ community investments are highlighted in the OBA’s just released publication Oregon’s Banks: Cornerstones of our Communities.
While many Oregon businesses are still struggling to rebound from the great recession and often experience difficulty qualifying for traditional bank credit, increases in bank lending demonstrate that Oregon banks are stepping up to meet the credit needs of Oregon’s small businesses.
The Oregon Bankers Association was established in 1905, and serves as the only full-service trade association representing state and national commercial banks, thrifts and savings banks chartered to do business in Oregon.
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Tags: Accounting, Income Tax, Small Business
