Uncertainty colors lending climate for banks

While local banks aren’t changing lending strategies during a rather heady time of high inflation, many small businesses appear reluctant  to reach into the loan pool, even as a last resort.

“Inflation can be good and bad for both borrowers and lenders,” said Michael Nagl, president and CEO of Centennial Lending in Frederick, a credit union service organization that serves nine states.

“We don’t mind the increase in the rates, because we’re booking loans at higher rates,” Nagl said. On the other hand, borrowing money early in an inflationary period can be a solvent move for businesses, as they are paying back…