Montgomery County Company Uses Online Tool To Grade Banks On Small Businesses Lending

By Brad Segall

BROAD AXE, Pa. (CBS) - Small businesses in search of capital to expand their operation now have an online tool they can use to find out which banks are friendlier when it comes to loaning them money.

The debate over whether big banks lend enough money to small businesses continues to rage on, but at least one local business executive says the answer to that question is 'no.'

Ami Kassar, CEO of Multifunding in Montgomery County has put together an online tool on the company website that lets business owners plug in a bank to see what grade they got. He says nearly 6,800 banks were evaluated and more than 80% got an A or a B.

"If you are going to go for a bank loan, go to a smaller bank, go to a community bank, go to a bank that is focused on doing what you need."

Kassar says 70 of the 100 largest banks in the country got a C or below. The grades were based on the ratio of small business loans to its domestic deposits. That data was based on what the banks reported to federal regulators.