Wells Fargo is America’s No. 1 SBA lender in dollar volume and units
Company commits $587 million to small businesses
SAN FRANCISCO - Wells Fargo & Company (NYSE: WFC) announced it has originated $587 million in financing to small businesses under the Small Business Administration’s (SBA) 7(a) loan program, keeping the company at the top of the agency’s list of lenders. This is according to the SBA data as of June 30, 2009. Together, Wells Fargo and Wachovia made 1,714 SBA-guaranteed loans since October 2008 to bolster its ranking as the No.1 SBA lender in both dollar volume and units for the first nine months of the current federal fiscal year.
“Small businesses are our nation’s most reliable job generator, creating 60 to 80 percent of all net new jobs annually,” said Dave Rader, executive vice president and leader of Wells Fargo’s SBA Lending Division. “We are pleased to provide financial support that gives business owners the funds they need to grow their businesses, retain employees and continue to create new jobs in communities across the country"
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,400 stores, over 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.
Wells Fargo is America’s #1 small business lender in total dollar volume according to the most recent Community Reinvestment Act data (2007). Wells Fargo has loaned more than $39 billion to women, African American, Latino and Asian business owners since 1995. 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.
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