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Growth on the Rise in Southern States…

Growth on the Rise in the Southern States…

Nationally chartered banks in some southern states saw their loan growth rates double between 2012 and 2013 according to published reports.

The numbers, reported by the Office of the Comptroller of the Currency, show loan rates grew substantially in Alabama, Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee and Texas.

Increases in loan volumes have been especially high in large cities in Texas and Oklahoma, the OCC reported, where growth was as high as 11 percent. Credit for the increase goes to the region’s booming oil and gas industry.  According to the Independent Bankers Association of Texas, the numbers reflect business growth overall.

A recovering economy after the national recession is also encouraging entrepreneurs to apply for loans to open their businesses.

American Receivable Corporation works with companies experiencing cash flow difficulties that often times are not eligible for conventional financing.  For over 35 years they have helped businesses succeed by providing the financial stability they need