Wells Fargo approved a record $1.24 billion in Small Business Administration (SBA) loans in federal fiscal year 2012 (Oct. 1, 2011 – Sept. 30, 2012) and for the fourth consecutive year is America’s leading SBA 7(a) lender in dollar volume.
This is the second year in a row that Wells Fargo has approved more than $1 billion in SBA 7(a) loans to small business owners – the only lender to achieve this milestone. An SBA preferred lender in all 50 states, Wells Fargo also is the second largest SBA lender in units extending 3,176 SBA 7(a) loans in fiscal 2012.
“It is very rewarding to know that every SBA loan we extend is helping American small business owners build their businesses for the long term,” said David Rader, head of Wells Fargo’s SBA Lending Division. “At Wells Fargo, we work hard to provide the financing that supports business growth and drives economic development and job creation in every community we serve. The fact that we approved more than $1 billion in SBA loans each of the last two years is a result of that hard work. While we take pride in our market leadership, we’re more proud that we provided the essential capital for thousands of customers across the country to start or invest in a small business.”