Newspaper article The Record (Bergen County, NJ)

New SBA Director Hopes to Propel More Lending to N.J.'S Small Firms

Newspaper article The Record (Bergen County, NJ)

New SBA Director Hopes to Propel More Lending to N.J.'S Small Firms

Article excerpt

Al Titone, the new director for the Small Business Administration New Jersey Division, hopes to prod and poke smaller, community banks to continue the growth in lending to small businesses that has taken place over the last year.

"I would like to see them do more," Titone said on Monday, his first day as director. "It's not going to be a sea change, but if we see small lenders do more loans a month, we could see a change for Jersey businesses."

Titone, 54, served as the acting district director for the New York district office, which covered the state's 14 southernmost counties. Before joining the SBA in 2008, he was the regional director for the York College Small Business Development Center in Queens.

Titone takes over an agency where the number of loans to small businesses increased last year, according to SBA data. Banks in fiscal 2010 issued 1,198 loans for $455 million -- an 18. …

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