Wells Fargo Still Top SBA Lender

When it comes to SBA lending, there is Wells Fargo, and then there is everybody else.

For the fourth straight year, the Minneapolis-based lender handed out the most SBA loans in the country, in terms of volume, according to the SBA newsletter The Coleman Report. Wells made $1.24 billion worth of loans, more than the next two banks put together. That was the second straight year the company exceeded $1 billion in loans.

Wells' Minneapolis neighbor, U.S. Bank, was second with $525 million worth of loans. They were followed by New York-based JPMorgan Chase ($512.4 million), Wilmington, North Carolina-based Live Oak Bank ($462.9 million), Columbus, Ohio-based The Huntington National Bank ($416.8 million), BBVA Compass out of Dallas ($252.6 million), Portland, Maine-based TD Bank ($205.2 million), KeyBank out of Cleveland ($198.7 million) BBCN Bank out of Los Angeles ($189.1 million) and Hanmi Bank, also in Los Angeles ($174.1 million).

The numbers are based on the federal government's fiscal year, which ended in September.

In terms of numbers of loans made, JPMorgan Chase was the top lender, having made 4,339 loans. But its average loan size of $118,087 was less than a third of the $390,733 average loan size at Wells—which made the second largest number of loans last year, 3,174.  No. 3 was Huntington, which made 2,557 loans in the last fiscal year.

The numbers come from the Coleman Report 500, which lists the 500 largest SBA lenders in the country. The loan volume among that group of lenders fell 23 percent in 2012 and the number of loans the banks made fell 17 percent. In both cases, it was the first time that the number of loans and volume of loans fell among the 500 largest lenders since 2009.

Add your comment:
Edit ModuleShow Tags

Who's making, losing, lending and spending money

About This Blog

News, notes and commentary on franchise financing, including SBA lending, both the SBA 7(a) program and the SBA 504 program, franchise finance programs, development incentives, big deals and startup lending.

  Mary Jo Larson is the publisher of Franchise Times Magazine and its sister publication, the Restaurant Finance Monitor. She is a frequent speaker at meetings and conferences, and at the Restaurant Finance & Development Conference. You can find her on Twitter at @mlarson1011.
  Reporter Jonathan Maze covers restaurants and finance for Franchise Times. He also writes for our sister publication, The Restaurant Finance Monitor, and writes a daily blog on the restaurant industry at www.restfinance.com. You can also catch him on Twitter at @jonathanmaze.




Atom Feed Subscribe to the Franchise Finance News Feed »

Recent Posts

Edit ModuleShow Tags
Edit ModuleShow Tags