WILMINGTON, Del.--(BUSINESS WIRE)--Feb. 26, 2008--U.S. Bank has opened its first office on the East Coast providing Small Business Administration (SBA) guaranteed loans in six Mid-Atlantic states. The new U.S. Bank SBA Division office is located at 1521 Concord Pike in Wilmington, Del.

U.S. Bank is the nation's third leading Small Business Administration (SBA) lender among banks and operates 24 specially designated SBA Business Center offices serving small business customers nationwide. The new office will serve businesses in Delaware, Pennsylvania, New York, New Jersey, Maryland, Virginia and Washington, D.C.

Michael Hahn will lead the new office as vice president and business development officer. Hahn brings 10 years of experience to the position.

"We are glad to announce our further expansion by opening a new SBA Business Center to serve the Mid-Atlantic states. U.S. Bank possesses the financial strength and capacity to provide SBA lending solutions to the small businesses of this region," said Erik Daniels, national sales manager, U.S. Bank SBA Division. "We are also excited about having Michael Hahn on our team. Michael is very experienced SBA professional who brings a high level of expertise to our organization. As we expand to meet the needs of small businesses in these new markets, it is vital to have person of Michael's background assist in this growth."

Prior to joining U.S. Bank, Hahn was a vice president and business development officer with Business Loan Express, a subsidiary of Allied Capital in Philadelphia. Prior to that, he worked for Merrill Lynch Business Financial Services in Wilmington. Hahn earned a bachelor's degree in finance and international business from Pennsylvania State University. He is a member of the Pennsylvania Business Brokers Association and the Philadelphia Turnaround Management Association. Hahn lives in Wilmington.

The SBA Division is a business line of U.S. Bancorp and has been an SBA lender for 32 years. In cooperation with the U.S. Small Business Administration, U.S. Bank SBA Division provides small business loans ranging from $25,000 to $4 million for real estate purchase and refinance, construction, equipment purchase, business acquisition and other business purposes.

U.S. Bancorp (NYSE: USB), with $238 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,518 banking offices and 4,867 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 Media Relations
Teri Charest, 612-303-0732
or
U.S. Bank SBA Division
Brian Butler, 858-536-4545 ext. 204

SOURCE: U.S. Bank