Susquehanna Valley Bank Reports Record Small-Business Lending Quarter

Susquehanna Valley Bank says lending to small businesses climbed 22 percent in the fourth quarter, the sharpest increase in the bank's twelve-year history, as contractors and specialty food producers around Harrisburg sought capital to expand.

Chief lending officer A. Ramos attributed the jump to a backlog of deferred expansion plans finally moving forward. "A lot of our clients held off on hiring or buying equipment for two or three years," Ramos said. "This quarter, the hesitation broke."

The bank's data shows the largest concentration of new loans went to businesses in construction trades and food manufacturing, two sectors tied closely to the Harrisburg region's population growth. Loan sizes averaged $180,000, mostly for equipment purchases and leasehold improvements rather than real estate.

Not every sector shared in the growth. Retail lending remained flat, and the bank reported a modest uptick in refinancing requests from businesses trying to lock in rates before further changes. Susquehanna Valley Bank plans to add two commercial lending officers in Dauphin County by midyear to keep pace with demand.