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Services Group of Pittsburgh saw lending to small businesses shoot up by 91 percent
in loan dollar volume and 77 percent in the number of loans made during the first half of 2004,
compared with the same period one year ago. "It's been absolutely tremendous," says Karen Larrimer,
chief marketing officer for PNC Business Banking, who notes that, in comparison, PNC's commercial
segment has grown loan dollars by only 20 percent over last year, as of the end of August 2004.
IT'S a business that didn't even exist 15 years ago.
But today, there are more than 10,000 payday-loan