Wells Fargo & Company, America’s No. 1 small business lender, has announced it is the No. 1 Small Business Administration (SBA) 7 (a) lender in Arizona in dollars and number of loans approved for fiscal year 2015. Wells Fargo approved 281 loans totaling $92,778,700 to Arizona businesses from Oct. 1, 2014 and Sept. 30, 2015.
“We take great pride in our year-over-year growth in the number of SBA loans we have extended because it shows we are meeting the credit needs of even more business owners, particularly smaller, new businesses and diverse-owned businesses,” said Greg DeJesus, SBA regional sales manager for Wells Fargo Arizona. “Every SBA dollar we lend helps an Arizona business owner start, expand or invest in a business and helps keep the Arizona economy strong.”
Nationally, Wells Fargo approved more SBA 7(a) loans and dollars for America’s small businesses than any other lender in federal fiscal year 2015 (October 2014 – September 2015), according to recently released U.S. Small Business Administration (SBA) data. During the year, Wells Fargo approved 7,254 SBA 7(a) loans totaling more than $1.9 billion nationwide – an increase of 79 percent in loans and 18 percent in dollars to small businesses compared to the same period a year ago.
Wells Fargo is the No.1 SBA 7(a) lender in dollars in 13 states – Arizona, California, Colorado, Connecticut, Iowa, Minnesota, Montana, Nebraska, Nevada, New Mexico, South Carolina, South Dakota and Texas – and the No. 1 SBA 7(a) lender in number of loans (units) in 16 states – Alaska, Arizona, California, Colorado, Florida, Georgia, Minnesota, Montana, North Carolina, Nebraska, Nevada, New Mexico, South Carolina, South Dakota, Virginia and Wyoming.