Legislative Wrap Up 2011: IDFPR Now Posting Small Business Lending Information Online

SBAC scored another win in 2011 spring legislative session by encouraging the Illinois Department of Financial and Professional Regulation (IDFPR) to post Illinois bank small business lending statistics on their web site.

Originally the SBAC supported legislation sponsored State Representatives Jehan Gordon and Dan Biss to require the agency to post small business lending information by individual bank, which led to several discussions with the IDFPR about the initiative. As a result of open communication and collaboration, IDFPR volunteered to post the information without a legal requirement.

Small business owners can now access Illinois banks’ small business lending history to assist with decision-making when selecting a bank for a small business loan. The information, updated quarterly and listed by county and bank, is posted at the IDFPR web site

Have you used IDFPR small business lending information? Are you looking for other information in regard to small business lending? Share your comments below!