Small business lending in Baltimore plummeted over a decade, while at the same time banks nearly doubled the deposits they took in from the city, a Johns Hopkins University study found.
In 2007, banks and other lenders doled out $457 million in loans to Baltimore small businesses. Amid the recession, that number plunged to $197 million in 2010, but by 2016 it only recovered to $307 million, the Hopkins researchers found. That’s a third less than a decade earlier.
The number of loans from all types of lenders declined by more than half to 8,274 transactions in 2016, from 17,084 loans. The average loan size shrank from $191,819 per loan to $70,877.
At the same time, bank...