Wells Fargo America’s Top Small Business SBA Lender in 2015

Wells Fargo announced it 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% in loans and 18% in dollars to small businesses compared to the same period a year ago.

“It’s rewarding to know that every SBA loan we approve is helping more American small business owners succeed financially and grow their businesses,” said Donna Serres, head of Wells Fargo’s SBA Lending Division.

“At Wells Fargo, we are proud of our year-over-year growth in the number of SBA loans we have extended as it shows we are meeting the credit needs of even more business owners, particularly smaller, newer businesses and diverse-owned businesses,” said Marc Bernstein, head of Wells Fargo Business Direct, which focuses on making small business loans under $100,000.

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.

“SBA Lending is an important part of Wells Fargo’s support for small businesses because it gives us the ability to provide essential financing for small business customers who may not be able to obtain a conventional loan,” said Serres. “Whether we’re extending an SBA 7(a) loan or referring a business to a lender in the SBA’s Community Advantage Loan program, we want to do everything we can to meet the financial needs of more small businesses in every market and help them propel our economy forward.”

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