PPP Lending Dominates Commercial Loan Growth in March

Free content from Automated Financial Systems, Inc. -- AFS

PPP Lending Dominates Commercial Loan Growth in March Total commercial loan balances continued to expand in March on the strength of Paycheck Protection Program (PPP) lending. Excluding this loan type, C&I bilateral loan balances increased slightly this month, with growth limited to a handful of large industries such as Finance & Insurance. After spiking at the onset of the pandemic last March, commercial line of credit utilization trended downwards and has remained below the pre-pandemic level. Average pricing for floating-rate new and renewed C&I bilateral loans ticked up in March, reversing the trend of declining interest rates seen over the last several months.

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