WASHINGTON — Two banks and two small business finance corporations were recently named the top 7(a) and 504 lenders by the Small Business Administration for their efforts in helping small businesses with their financing needs.

Los Angeles-based Nara Bank received the Large 7(a) Loan Lender of the Year award and Scottsdale, Ariz.-based First National Bank of Arizona, National Association received the Small 7(a) Lender of the Year award. The award was split into two categories: large lender for those with an SBA loan portfolio of more than $100 million and small lender for less than that total.

Mountain West Small Business Finance, in Salt Lake City, was named the Large 504 Lender of the Year and Taunton, Mass.-based South Eastern Economic Development. Corp. was named the Small 504 Lender of the Year.

SBA added a new category this year to recognize financial institutions that have excelled in their lending to inner city businesses. Wells Fargo of Minneapolis was recognized for the largest loan volume to inner city businesses. Pacific City Bank of Los Angeles was recognized for the percentage of inner city loans to SBA portfolio.

The awards were presented to the winners during a SBA ceremony last week held in conjunction with other National Small Business Week activities.

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