Agencies Release 2019 CRA Data on Small Biz, Community Development Lending

The federal banking agencies today released 2019 Community Reinvestment Act data on small business, small farm and community development lending. The CRA requires banks with more than $1.28 billion in assets to report data in these areas.

The 695 reporting banks originated or purchased 7.6 million small business loans totaling $265 billion. The total number of loans originated by reporting banks increased by about 7.9% from 2017, and the dollar amount of originations increased by about 7.7%. Small farm loan originations rose by about 2.4% year-on-year, while the total dollar amount increased by 0.4%. About half the reported small business loans and 59% of reported farm loans were made to firms with less than $1 million in revenue.

A total of 619 banks reported community development lending activity totaling nearly $111 billion in 2018, an 8% increase from the amount reported in 2018