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Expansions, mergers fuel business borrowing
Mike Miller has seen all sorts of business expansion in the last year. He has watched clients open new locations, buy large pieces of equipment and expand their product offerings.
Miller, senior vice president of commercial banking at U.S. Bank in Milwaukee, likes to see businesses expand because it means his loan portfolio is doing the same.
Not only is U.S. Bank's local operation making more and larger business loans, it is setting aside a larger portion of its total loan pool for business.
In 1991, 57 percent of all loans made by U.S. Bank went to companies, with the remaining 43 percent going to individuals. Last year, businesses got 61 percent of the loans, or about $33.8 billion worth, according to Sheshunoff …