Citi will be lending U.S. small businesses $24 billion over the next three years. The bank will provide $7 billion in 2011, $8 billion in 2012 and $9 billion in 2013. This allocation will allow the U.S. Small Business Administration to offer access to lending and capital. Citi CEO Vikram Pandit said the step is aimed at accelerating economic growth.
Click here for the release from Business Wire.