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U.S. Bancorp Message Board

  • fbsbgillie fbsbgillie Oct 28, 2013 7:08 PM Flag

    SBA loans

    " For the fifth straight year, Wells Fargo & Company (WFC) is America’s top SBA lender in dollar volume, approving a record $1.47 billion in SBA 7(a) loans for small businesses in federal fiscal year 2013 (Oct. 1, 2012 – Sept. 30, 2013). The company increased its dollar volume of SBA 7(a) loans by 18.3 percent from a year ago. An SBA preferred lender in all 50 states, Wells Fargo also is the second largest SBA lender by units, extending 3,481 SBA 7(a) loans in federal fiscal year 2013.

    The company also provided more small business financing through SBA 504 real estate and equipment loans, extending 211 SBA 504 loans over the last year totaling more than $248 million.

    “Each and every SBA loan we extend not only helps a small business thrive and grow, it also helps drive economic recovery and development in that community,” said David Rader, head of Wells Fargo’s SBA Lending Division. “We’re humbled by the trust America’s small business owners have placed in us, and immensely proud of our role in helping our customers and our communities overcome the challenges they have faced over the last five years.”

    During the five-year period Wells Fargo has been the No. 1 SBA lender, the company has increased its SBA 7(a) lending 48 percent in units and nearly 78 percent in loan dollars from federal fiscal year 2009 to 2013."

    FWIW

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