Chase small business loans up 58% in state

02/06/2013 12:00 AM

02/06/2013 7:56 AM

Chase, the U.S. consumer and commercial banking arm of JPMorgan Chase & Co., said it extended nearly $7.5 billion in new loans to small businesses in California in 2012, up 58 percent from 2011.

California's share represented more than a third of $20.2 billion in new credit provided to small businesses nationwide – up 18 percent over 2011.

Besides California, Chase said 2012 loan growth was strongest in the states of Nevada, Oregon, Washington, Florida and Louisiana.

Chase small business lending generally includes credit extended to firms with less than $20 million in annual revenue.

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