On Friday, the US Small Business Administration (SBA) named Wells Fargo & Company “Large 7(a) Lender of the Year” for 2011.
The award was presented in Washington, DC, as part of the SBA’s “National Small Business Week” celebrations. Karen Mills, SBA’s administrator, presented the award.
“Our partnerships with SBA lenders over the past two years have played a crucial role in putting capital in the hands of America’s strongest economic engine – small businesses,” Mills said.
Over the federal fiscal year’s last six months, Wells Fargo has provided more than $677 million in SBA 7(a) financing to owners of small businesses. Wells Fargo is the second largest lender in the US, providing 1,652 loans through March 31. In fiscal year 2010, the company extended $871 million in SBA 7(a) financing.
“At Wells Fargo, we have the privilege of helping small businesses thrive in communities across the country by providing access to the capital they need to succeed financially,” said David Rader, head of Wells Fargo’s SBA lending division. “We are honored to be recognized by the SBA for our work, and we thank our customers for the opportunity to work with them and be part of their success.”