On October 1, the FDIC released a report, which covers the findings of its Small Business Lending Survey. The survey studied the responses of approximately 1,200 banks to analyze the small business lending practices of each institution. The survey included topics such as, overall small business lending volume, types of borrowers, market areas and competitive environments, competitive practices and advantages, and underwriting practices. Among other things, the report concludes that (i) banks lend more to small businesses than is currently measured as many banks lend over the $1 million commercial and industrial lending limit used; (ii) small and large banks cite to personal relationships as their top competitive advantage in the market and many are willing to grant exceptions to underwriting policies based on their relationships; and (iii) small business lending typically occurs locally as very few banks accept small business loan applications online.