MINNEAPOLIS--(BUSINESS WIRE)--Oct. 25, 2007--U.S. Bank increased
its U.S. Small Business Administration (SBA) loan total by 13.8
percent for fiscal 2007, according to SBA information. U.S. Bank SBA
Division provided a record 5,353 SBA-guaranteed loans to small
businesses nationwide, up from 4,703 in fiscal 2006. The total ranked
U.S. Bank fourth among SBA lenders nationally. The SBA fiscal year
ended Sept. 30.
In terms of loan dollar volume, U.S. Bank ranked third nationally
among SBA bank lenders and fourth overall among both bank and non-bank
SBA lenders, with a dollar volume of $486,384,707 according to the
SBA. U.S. Bank is the leading SBA lender for loan dollar volume in Los
Angeles, Nevada, Portland, Seattle/Spokane and Tennessee.
"U.S. Bank is committed to providing products and services
designed to help our small business customers be successful," said
Michael Rizzo, executive vice president at U.S. Bank. "Certainly SBA
Division's record sales volume is a result of teamwork on the part of
our thousands of banking professionals who focus daily on providing
exactly what small businesses need."
U.S. Bank ranks in the top five in total number of loans in 20 of
the 27 SBA districts where it operates. It ranks first in Minnesota,
Iowa, Colorado, Nebraska, Portland, Sacramento, San Diego and St.
Louis; second in Boise, Kansas City, Kentucky, Nevada,
Seattle/Spokane, Tennessee, and Wisconsin SBA Districts.
U.S. Bank operates 24 specially designated SBA Business Centers
nationwide. U.S. Bank is part of U.S. Bancorp (NYSE:USB). With $228
billion in assets, U.S. Bancorp is the parent company of U.S. Bank,
the 6th largest commercial bank in the United States. The company
operates 2,512 banking offices and 4,870 ATMs, and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
CONTACT: U.S. Bank
Teri Charest, Media Relations, 612-303-0732
Brian Butler, SBA Marketing, 858-536-4545 x204
SOURCE: U.S. Bank