FDIC Launches Credit Website For Small Businesses

The Federal Deposit Insurance Corporation (FDIC) held a forum Thursday on small lending to explore ways in which credit can be made more accessible to the small business sector.

As a result of the forum and in recognition of importance of available credit to small businesses, the FDIC announced the formation of a new dedicated, toll-free hotline for small businesses. The new hotline allows small business owners to make inquires with FDIC officials or to register concerns about the availability of credit. The FDIC will respond to inquiries about policies and financial institutions it regulates as well as make referrals to other governmental agencies where appropriate.

“A combination of factors have created issues and challenges for small businesses, but it is turning in terms of credit availability,” said FDIC Chairman Sheila C. Bair.

“I think it is going to get better, and we’re working to facilitate that with the dialogue this conference will spark along with our new hotline and website dedicated to small businesses."

The small business hotline is operational Monday thru Friday, 8am to 8pm, Eastern Standard Time. As part of the kickoff of the hotline, it will be open this weekend only, 9am to 5pm, Eastern Standard Time. The toll-free number is 1-855-FDIC-BIZ (1-855-334-2249). To complement the new small business hotline, the FDIC also created a dedicated Web site for small businesses to use.