WASHINGTON – Federal Deposit Insurance Corporation (FDIC) Acting Chairman Martin J. Gruenberg and U.S. Census Bureau (Census) Director Robert L. Santos today formally invited approximately 2,000 U.S. banks to participate in a nationally representative online survey about their small business lending practices and volumes.
Sponsored by the FDIC and administered by Census, the 2022 Small Business Lending Survey (SBLS) provides a comprehensive view of small business lending by banks and will significantly expand the FDIC’s and the public’s understanding of the impact banks have on the nation’s small businesses.
In a message to selected institutions, FDIC Acting Chairman Gruenberg and Census Director Santos said, “Banks are uniquely poised to meet the credit needs of small businesses, which are an important component of the U.S. economy. Your institution’s participation in the survey will provide valuable information to the FDIC, other policy makers, and the general public about the contribution of U.S. banks to small business lending.”
Banks are the most common source of external financing for small businesses, which account for nearly all U.S. firms. Despite the importance of small businesses to the U.S. economy and the importance of bank lending to small businesses, there is little high quality data on this activity. The last SBLS occurred in 2016 and the 2022 survey aims to fill gaps in the understanding of current bank lending to this vital sector.
The Census selected approximately 2,000 banks of all sizes and from all geographic areas in the U.S. to participate in the survey, including institutions primarily regulated by the FDIC, the Federal Reserve System and the Office of the Comptroller of the Currency (OCC). The selected banks include all FDIC-insured institutions with assets of $3 billion or more as well as a random sample of banks with assets of less than $3 billion. All survey responses will be confidential and anonymous and the FDIC will only report the aggregated results.
To answer any questions that bankers may have about the 2022 SBLS, the FDIC will host four informational sessions for bankers on May 11th, 12th, 16th and 17th. Bankers may attend multiple sessions and are encouraged to invite other staff to attend. Register now for the FDIC 2022 Small Business Lending Survey Meetings for Bankers.