As we begin the New Year, I thought I would share some perspectives on where I think we stand in terms of access to capital and what I think will happen with small-business lending in 2013.
In part, my perspective comes from reading various reports about the state of small-business lending. These reports, however, don’t tell the whole story. For example, the Small Business Administration releases numbers that apply only to S.B.A.-backed loans. And the data that comes from the Federal Deposit Insurance Corporation about bank lending activity includes credit card loans. Meanwhile, the alternative lenders don’t release any aggregate numbers at all.
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