In fiscal year 2015, SBA lending in NC set a new record according to its Lenders Newsletter (October 2015). For the first time, SBA loans in NC topped half a billion dollars – over 1,000 loans totaling $533 million. So who is lending? The top five lenders include Wells Fargo, Yadkin Bank, Suntrust Bank, BB&T, and Celtic Bank. Learn more about SBA-NC District Office activities.
Lending is only one measure of economic activity. The PNC Economic Outlook: Survey of Small & Middle-Market Business Owners (Fall-2015 Survey) indicates NC business owners are cautious, but optimistic about the next six months. Through 2016, the study suggests growth will be driven by low business costs and productivity gains because of a young educated workforce. For a broader look at the U.S. economy, you may want to follow Wells Fargo’s Monthly Outlook.