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SAN DIMAS, Calif. – In recognition of its role in minority enterprise development, WesCorp was recently named SBA’s Marketing Partner of the Year. The $26 billion corporate was presented with the honor at a Nov. 17 business luncheon marking Minority Enterprise Development (MED) Week 2005. The award is sponsored by the Los Angeles Minority Business Opportunity Committee; Minority Business Development Agency; and the SBA. The annual MED week celebration recognizes the accomplishments of outstanding minority business enterprises and salutes those corporate and financial partners that have made significant contributions to minority business enterprise development. Los Angeles City Mayor Antonio Villaraigosa presented the award to WesCorp President/CEO Bob Siravo. WesCorp learned it would receive the award from SBA District Director Alberto Alvarado of the Los Angeles District office. In April, WesCorp, SBA, and the California Credit Union League came together to form a program intended to give credit unions the upper hand in learning about SBA loans, the review process, and the requirements associated with becoming SBA-approved lenders. Credit union representatives participated in a June 1 Webinar on the process followed by a WesCorp co-sponsored June 14 seminar that included presentations by officials from NCUA, SBA and the California State Department of Financial Institutions. In March, SBA Administrator Hector Barreto met with WesCorp’s Siravo and others to encourage credit unions to become much more active in business lending to their members by tapping into SBA-approved loan programs. More than 30 of California’s 574 credit unions are SBA-approved lenders, according to the SBA.

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