Wells Fargo (NYSW: WFC) announced today it is again Colorado’s No. 1 lender to small businesses by two key measures – Small Business Administration (SBA) and Community Reinvestment Act (CRA) lending. According to SBA 7(a) data for federal fiscal year 2010 (ending 9/30/10), Wells Fargo loaned $51.2 million – more than twice any other lender – to Colorado businesses. The company also is the top SBA 7(a) lender in the nation providing $871 million in loans.
Recently released CRA government data for 2009 show Wells Fargo ranked as the No. 1 small business lender in Colorado for total business lending under $1 million ($1.4 billion), and for loans under $100,000 ($874 million).
“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, Wells Fargo’s Colorado regional president. “We want to say ‘yes’ to as many qualified borrowers as possible.
“The success of local businesses remains crucial to our state’s overall economy. Wells Fargo’s position as the top lender in Colorado gives us an important opportunity to support our economic recovery.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. In Colorado, Wells Fargo serves customers through 170 Community Banking stores, 28 Wells Fargo Home Mortgage locations and 30 Wells Fargo Advisors stores in nearly 70 communities. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
Wells Fargo is America’s #1 small business lender (2009 Community Reinvestment Act government data) and a leading lender to women- and diverse-owned businesses. Through its award-winning online advice library of business resources, including topical videos and webcasts, Wells Fargo provides business owners with timely advice and information to help them succeed financially. For more information, speak with a Wells Fargo banker, visit wellsfargo.com/biz or call the National Business Banking Center at 1-800-CALL-WELLS.
