Due to the credit crunch during the recent recession, many small businesses found that were more willing to lend money to smaller operations.

Group of answer choices:

A) large corporations

B) credit card companies

C) international banks

D) smaller, community banks

The correct answer is letter "D": smaller, community banks.

Explanation:

The Great Recession is the economic downturn that occurred as a result of the U.S. housing bubble collapse between 2007 and 2009. Many well-known companies such as Chrysler, General Motors and Lehman Brothers filed for bankruptcy during this period. Not all the companies suffered a decline, however.

A study conducted by the Federal Reserve Bank of St. Louis (2013) indicates that 417 banks and thrift institutions failed between 2006 and 2011 but 702 small community banks reported total assets of around $10 billion by allowing individuals to benefit from loans. During the Great Recession, banks and thrift institutions were too cautious which did not allow them to earn the profits they would have desired.

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