BMO boosts small business lending in Metro Vancouver

The number of loans that Bank of Montreal is giving Metro Vancouver small business owners has risen more than 10% compared with last year, the bank’s vice-president of commercial lending, Dean Kirkham, told Business in Vancouver July 16.

That’s more than four times more than what Kirkham expected, given the bank’s current 2.4% GDP growth forecast for B.C. in 2013.

“Certainly our loans have increased compared with last year, when the number and value of loans increased between 6% to 8%,” Kirkham said.

“Recognize that this is BMO talking. I’m hoping that I’m outdoing my competitors but I’ve got to think that what’s going on is more than that BMO is doing a great job. I think that what this says is that the economy in B.C. is improving and confidence is strong.”