ATB Financial's numbers show consistency amid job losses, falling oil, and a lower dollar
Some good news for Alberta. ATB Financial has revealed that in the past year, they have authorized over 12 and a half thousand loans worth over $2.79 billion for small and medium sized businesses, almost identical to their numbers last year.
What's more, in the third quarter of it's current fiscal year, ATB saw a 30% jump in the number of loans it authorized over the same quarter in the previous year.
Wellington Holbrook, Executive Vice President - Business and Agriculture at ATB Financial, says that it holds true for our area as well, with loans given to small and medium sized businesses in Vegreville and area holding steady.
He adds that ATB continues to see strong performances from small and medium sized businesses, especially when compared to Alberta's larger oil and gas related businesses.
Holbrook acknowledges that while it will be a tough year for Alberta, it's important to remember that small businesses will help build a stronger Alberta in the long run.