Small-business lending record touted by Wells Fargo
Wells Fargo & Co. approved more than $548 million in Small Business Administration 7(a) loans nationwide in the first half of the federal fiscal year. The company announced the results Friday as it opened its annual Small Business Appreciation Celebration.
"SBA loans are an important financing tool for many small business owners and we want to do everything we can to help small businesses stay competitive and grow," said David Rader, head of SBA lending.
Wells Fargo also is the largest SBA 7(a) lender in dollars in 12 states for the first six months of the fiscal year, including Nevada.
SBA 7(a) loans are extended to qualifying businesses in a wide range of industries that in general have average revenues of less than $20 million and 500 or fewer employees.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.
