Wells Fargo Wins SBA’s 2013 7(a) Large Lender of the Year Award
Three banks, two certified development companies and two small business investment companies have received the SBA’s highest recognitions.
The agency said Friday that Wells Fargo of Minneapolis was named the SBA’s 2013 Large 7(a) Loan Lender of the Year.
The bank made more than $1.24 billion in loans and supported more than 37,000 jobs in fiscal year 2012. This is the second time Wells Fargo has received the recognition after receiving the honor in fiscal year 2011, the agency said.
The Small 7(a) Lender of the Year Award was shared by Village Bank & Trust of Des Plaines, Ill., and Eastern Bank of Boston.
In FY 2012, Village Bank & Trust showed a growth rate in SBA lending of more than 6,000% over the previous year and supported more than 940 jobs in its community.
Eastern Bank’s performance focused primarily on underserved markets, where it made 207 loans and supported 2,297 jobs, the SBA said.
The winners were recognized during a ceremony hosted by the SBA in recognition of National Small Business Week.
Also honored were two certified development companies or 504 lenders. The winners were the Wisconsin Business Development Finance Corp. of Monona, Wis. which won the Large CDC of the Year Award and Community Development Resources of Lincoln, Neb., which was presented with the Small CDC of the Year Award.
WBD has helped fund over 2,000 projects in Wisconsin and last year worked with more than 100 lenders to become the third largest producer out of 225 CDCs in the U.S., according to the SBA.
Community Development Resources has provided capital to more than 250 small businesses in Lincoln and last year financed more than $10 million in SBA 504 loans, the agency said.
Two SBICs were selected 2013 Small Business Investment Companies of the Year.
Blue Sage Capital in Austin, Texas, invests in a broad spectrum of small businesses that employ people, advance communities and grow the U.S. economy, the SBA said. The SBIC has invested approximately $130 million in 13 small businesses from manufacturing to restaurants to health care, and more.
Plexus Capital, headquartered in Charlotte, N.C., with a satellite office in Raleigh, N.C, provides growth capital to middle market companies. Its investments have resulted in almost 5,000 jobs created and/or retained, according to the SBA.