Federal Reserve Chairman Ben Bernanke said Thursday that many businesses and consumers are finding it easier to borrow as banks shore up their balance sheets.

“Notwithstanding the various headwinds, credit conditions in the United States have improved significantly in a number of areas,” Bernanke said.

He said that large companies are selling bonds at historically low interest rates and that people with strong credit have “ready access” to credit card and auto loans.

But he also noted that many creditworthy Americans are finding it difficult to get mortgage loans. He said small-business owners who have used their homes as collateral for loans also face “challenging” conditions.

Bernanke’s comments were prepared for delivery at a banking conference in Chicago.

The Fed chairman said that banks have made “considerable progress” in shedding risk from balance sheets and building cushions against future loan losses. Cash and securities holdings at large banks have doubled since 2009, he said.

He also said that the way banks fund themselves has gotten safer. He said large banks are now “flush” with deposits and depend less on “short-term loans” from financial institutions for their own borrowing needs.

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