Washington, D.C. (May 12, 2014)—The Independent Community Bankers of America® (ICBA) and community banks across the country are joining the Small Business Administration (SBA) in celebrating National Small Business Week, May 12-16. ICBA is reminding everyone about the critical role community banks serve in supporting local small businesses.
“The economic stability of this country depends on the growth and development of small businesses. These companies are increasing economic stability and creating local jobs,” said ICBA Chairman John H. Buhrmaster, president and CEO of 1st National Bank of Scotia, N.Y. “Community banks understand their local markets and towns better than anyone else, and they understand the unique challenges and situations these businesses and entrepreneurs face. After all, community banks are small businesses themselves.”
Community banks are the primary source of lending for small businesses and farms. Community banks are prolific small business lenders—providing a substantial number of small business loans across the country, including SBA loans. Community banks with less than $10 billion in assets make nearly 60 percent of small businesses loans to small businesses.
Small business owners and consumers can find their local community bank by visiting ICBA’s Community Bank Locator at www.banklocally.org or by downloading the free ICBA locator apps on iPhone, Android and BlackBerry devices.
To follow the conversation on Small Business Week, follow the hashtag #SBW2014 on Twitter. To learn more about community banks and the positive impacts they have on small businesses nationwide, visit www.icba.org.
The Independent Community Bankers of America®, the nation’s voice for more than 6,500 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.