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Wells Fargo Approved More SBA Loan Dollars for Small Businesses vs. other Lenders

May 18, 2012, 06:30 AM
Filed Under: SBA Lending News

Wells Fargo approved more than $548 million in SBA 7(a) loans nationwide in the first-half of federal fiscal year 2012 (Oct. 1, 2011, through March 31, 2012), and continues to provide more SBA loan dollars to America’s small businesses than any other lender. These results were announced as the company kicked off its annual Small Business Appreciation Celebration.
“During a time of year when we celebrate the importance of small business to our nation’s economic recovery, it’s rewarding for us to meet the financing needs of thousands of small business customers,” said David Rader, head of SBA Lending for Wells Fargo. “SBA loans are an important financing tool for many small business owners and we want to do everything we can to help small businesses stay competitive and grow.”

Wells Fargo also is the No. 1 SBA 7(a) lender in dollars in 12 states for the first 6 months of the federal fiscal year 2012: Alaska, Arizona, California, Colorado, Florida, Minnesota, North Carolina, Nevada, New Mexico, Oregon, Texas and Wyoming. In addition, Wells Fargo is the No.1 SBA 7(a) lender in number of loans in nine states: Alaska, California, Colorado, Georgia, Iowa, Minnesota, New Mexico, South Carolina and Wyoming.

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