Wells Fargo largest SBA lender in dollar volume for U.S., Iowa
Tuesday, October 29, 2013 2:31 PM
For the fifth straight year, Wells Fargo & Co. was the top U.S. Small Business Administration lender in dollar volume in the country, approving a record $1.47 billion in SBA 7(a) loans for small businesses in the federal fiscal year that ended Sept. 30. The company increased its dollar volume of 7(a) loans by 18.3 percent from the previous year. Wells Fargo was also the leading lender in dollar volume for Iowa in fiscal 2013, extending approximately $12.8 million through 28 loans. An SBA preferred lender in all 50 states, Wells Fargo also is the second-largest SBA lender in the country by number of loans, extending 3,481 SBA 7(a) loans in the past fiscal year.