Published:
Wells Fargo is America's #1 Small Business Lender According to Government Data
SAN FRANCISCO - (BUSINESS WIRE) - Wells Fargo & Company (NYSE:WFC) today announced it is the #1 Small
Business Administration (SBA) 7(a) lender in dollars and the #2 lender
in units. Figures for the federal fiscal year, which ended September 30,
2009, show Wells Fargo, together with Wachovia, extended 2,347
SBA-guaranteed loans totaling $827 million in financing to small
businesses. Wells Fargo is the #1 SBA lender in both dollars and units
in six states: Alaska, Arizona, California, Colorado, Nevada and Texas.
"Over the past year small business customers have found access to
capital challenging, which is why offering SBA loans is so critical to
helping business owners reach their financial goals," said Dave Rader,
head of Wells Fargo's SBA Lending Division. "We're helping refuel
America's economic engine - one small business loan at a time."
Further bolstering its small business lending leadership, Wells Fargo,
combined with Wachovia, remained the #1 small business lender across
three major Community Reinvestment (CRA) categories for 2008 for: 1)
loans under $100,000; 2) loans under $100,000 in low- and
moderate-income (LMI) neighborhoods; and 3) total business lending under
$1 million.
"We're very proud of this #1 ranking," said Marc Bernstein, head of
Wells Fargo's Small Business Segment. "With the combined power of
Wachovia and Wells Fargo, we are the #1 lender in 16 states and the
second largest lender in six additional states. We're a national leader
with more talented team members able to help small business owners coast
to coast."
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with
$1.2 trillion in assets, providing banking, insurance, investments,
mortgage and consumer finance through more than 10,000 stores and 12,000
ATMs and the internet (wellsfargo.com) across North America and
internationally.
Wells Fargo is America's #1 small business lender and a leading lender
to women- and diverse-owned businesses. Through its online library of
business resources, including topical videos and an award-winning
webcast series, Wells Fargo provides business owners with timely advice
and information to help them succeed financially. For more information,
speak with a Wells Fargo banker, visit wellsfargo.com/biz
or call the National Business Banking Center at 1-800-CALL-WELLS.
Wells Fargo
Sarah Toffoli, 415-396-0866
sarah.toffoli@wellsfargo.com
Copyright © 2009, Business Wire, Inc., All rights reserved.
Copyright © 2009, NewsBlaze,
Daily NewsTags: Business wire, arizona, california, colorado, idaho, minnesota, montana, nevada, new mexico, oregon, texas, utah, washington, wyoming, Medical, Consulting, Accounting and other Professional Services, Banking and Finance, Insurance
Search News
Daily News
