Every FDIC insured bank in Baltimore is graded for their small business loans
/EINPresswire.com/ Baltimore, MD – May 16, 2012 — The month of May is host to Small Business Week, a time to recognize the contributions that small businesses make in our country. “One of the biggest challenges that small businesses face is access to capital,” says Ami Kassar, CEO of MultiFunding, a small business financial advisory firm. “We decided to give small businesses a gift this year and help them find local banks that are friends of small business – Banking Grades (www.bankinggrades.com).”
Banking Grades is a proprietary online tool that grades every bank on its commitment to small business lending. Using public data from the Federal Deposit Insurance Corporation (FDIC), Banking Grades compares the amount of a bank’s deposits to the amount of loans that bank has made to small businesses. These loans are $1,000,000 or less. “Based on our experience of helping small businesses find financing, we believe that a one million dollar loan is a good barometer of small business lending,” explains Kassar.
On Banking Grades, anyone can search for an FDIC-regulated bank by name, zip code, city and/or address. Banks that make the most loans to small businesses (proportionately to their deposits) receive an A. Conversely, the banks are not making small business loans, receive an F. There are thousands of banks in between. “It is our hope that small business owners will use this tool to find local banks that will lend to them. All banks have money, but the biggest one or the closest one to your store isn’t necessarily the one focused the needs of small businesses,” says Kassar.
In Baltimore , the following banks received an “A”: Commerce First Bank (Anne Arundel), Howard Bank (Howard), Maryland Financial Bank (Baltimore), Regal Bank & Trust (Baltimore), The Harbor Bank of Maryland (Baltimore).
Banking Grades is sponsored by Hana Small Business Lending, The Receivables Exchange and IOU Central. For more information about MultiFunding, visit www.multifunding.com. For more information about Banking Grades, visit www.bankinggrades.com.
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