Small-town banks still lending, entrepreneur notes

Rural entrepreneur Jack Schultz notes in his Boomtown USA blog a recent report from the Federal Reserve Bank of St. Louis that, as he puts it, "small town banks are still lending and carrying the USA forward, though "the rallying cry from D.C. over the past several months" has been "Banks need to start lending again!"

"While I've found that small town banks are carrying on business as usual, the large ones and Wall Street appear to be be frozen up," Schultz writes. "Perhaps it would help if the national media looked beyond the Beltway and Wall Street for their information."

The "Bank Loans and Credit" chart that accompanies Schultz's blog post is difficult to read on his blog or here, but it is part of a report from the bank. For a PDF of it, click here.