The chart above displays the volume of commercial and industrial loans at all U.S. commercial banks on a weekly basis back to 2000, through the first week of May, and shows that bank lending to small and medium size businesses has been steadily increasing since the fall of 2010. Business loan volume has been above $1.4 trillion in every week since early April, which is back to the pre-recession commercial loan levels of November 2009 (see chart). A year ago, commercial lending to businesses was growing at an annual rate of only about 3%, but since then business loan growth accelerated to double-digit levels starting last November, and now business loan growth has been about 13% since early February.Commercial banks have been increasingly more willing to extend credit to America's small- and medium-sized companies over the last 18 months, as confidence about current and future economic conditions have been improving, leading to greater willingness by banks to take on credit risk. It's an important economic milestone that bank business loan volume has returned to its pre-recession 2007 levels.
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