Financial Services for Small Business
The FDIC encourages insured depository institutions and their partners to prudently serve the financial needs of emerging entrepreneurs and small businesses. Business ownership is a primary vehicle for wealth building, and the promotion of small business growth is deeply embedded in public policy. The community bank business model often places an emphasis on local knowledge and expert analysis of small business credit worthiness. Small businesses that operate outside of the financial mainstream lack access to capital and a range of services available from insured depository institutions.
As the primary federal supervisor for most of the nation’s community banks, the FDIC has a unique understanding of these institutions, and has engaged in a robust effort to deepen awareness of the important role these institutions play in small business lending. A key economic inclusion opportunity is to build on this experience and work to strengthen ties between community banks and federal, state, and local small business resources to serve their shared objectives of meeting the needs of the small business sector in a prudent fashion.