Recently, the OCC released data on small business, small farm, and community development lending during 2023, compiled by the FFIEC. The 2023 data, reported by 721 lenders, revealed a slight increase in reporting institutions compared to 2022. These lenders, primarily large institutions with assets over $1.503 billion, accounted for a significant portion of small business and small farm lending. The report noted a decrease in the number and dollar amount of small business and small farm loans originated in 2023, attributed to rising interest rates and tighter lending standards. The data also highlighted the geographic distribution of lending, with a concentration in metropolitan areas for small business loans and rural areas for small farm loans. Additionally, the report discussed community development lending, noting a decrease in the total amount from 2022.
