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SBA and CRA DATa rank Wells Fargo Bank as top small business lender in Colorado

Wells Fargo Bank remains the top small business lender in Colorado by two measures: the dollar volume of loans issued through a U.S. Small Business Administration guarantee program and the volume of business loans tracked through the Community Reinvestment Act.

According to the SBA, Wells Fargo issued $51.2 million in loans in Colorado through the 7 (a) program during the 2010 fiscal year ending Sept. 30. Wells Fargo also remains the top 7 (a) lender nationally with $871 million in loan volume.

According to recently released CRA data for 2009, Wells Fargo issued $1.4 billion in business loans under $1 million in Colorado and $874 million in business loans under $100,000.

“The changes that came about as a result of the recently passed Small Business Jobs Act will help Colorado’s small businesses grow. And we’re committed to ensuring business owners have access to the capital they need,” said Nathan Christian, Colorado regional president for Wells Fargo. “We want to say ‘yes’ to as many qualified borrowers as possible.”

In Colorado, Wells Fargo operates a total of 170 banking locations, 30 investment locations and 28 home mortgage locations in nearly 70 communities. For more information, log on to the website at www.wellsfargo.com

The Business Times has served as the definitive source for Grand Junction business news since 1994. The journal offers news, views and advice you can use twice each month in print with daily updates online at www.TheBusinessTimes.com
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Posted by on Nov 24 2010. Filed under Business Briefs. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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