Citibank Tries a New Approach to Small-Business Lending

Citibank Tries a New Approach to Small-Business Lending - NYTimes
The big United States banks have come under withering criticism for not lending enough to small businesses, but this week brings word that Citigroup, the parent of Citibank, will participate in a novel program to steer capital to small businesses that have an especially hard time getting it: those located in economically distressed areas. What's novel about the program is that while Citigroup will provide most of the capital, it will not disburse it. Instead, it will rely on Next Street, a self-described "merchant bank," to underwrite loans to businesses that Next Street deems capable of rapid growth. If the initiative succeeds, it could serve as a model for similar programs around the country. . . . keep reading about Small Business Lending

 

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