MINNEAPOLIS, Oct 17, 2011 (BUSINESS WIRE) --
U.S. Bank set a new company record for Small Business Administration
(SBA) loan approvals with a total of $630 million for the SBA fiscal
year, which ended Sept. 30, 2011. The previous U.S. Bank record, set in
2008, was $504 million.
| SBA Fiscal Year |
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$ approved |
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year-over-year change |
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# approved |
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year-over-year change |
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2011
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$630 million
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123% increase |
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1,711 loans
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6% increase |
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U.S. Bank was the No. 1 lender in loans and/or dollar volume in Kansas
City, Minneapolis, Portland, Seattle, and St. Louis.
"Our significant growth in SBA lending this year is another sign of our
commitment to small businesses and to the communities we serve," said
Rick Hartnack, vice chairman of consumer banking at U.S. Bank.
More than 3,000 branch managers participated in small business training
over the past two years aimed at making small business lending a
priority in the branch setting.
"These numbers are no accident," Hartnack said. "Our bankers have worked
hard these past few years to connect with new and existing small
business customers to meet their needs - and to help get local economies
moving again."
SBA is just one piece of the small business lending the bank does,
including equipment loans and leasing, operating lines of credit and
commercial real estate lending. U.S. Bank is a leader in small business
banking and is an advocate for small businesses. Each year, the company
offers insight to small business perspectives on the economy and the
business environment through the U.S. Bank Small Business Annual Survey.
U.S. Bank is focused on innovation and won a Monarch Innovation Award
from Barlow Research Associates for its creation and introduction of
ScoreBoard, an online payments management tool for small businesses. For
more information on the products and services U.S. Bank offers small
businesses, visit www.usbank.com/smallbusiness.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $321 billion
in assets as of June 30, 2011, is the parent company of U.S. Bank, the
fifth-largest commercial bank in the United States. The company operates
3,086 banking offices in 25 states and 5,086 ATMs and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. U.S. Bancorp and its employees are dedicated to
improving the communities they serve, for which the company earned the
2011 Spirit of America Award, the highest honor bestowed on a company by
United Way. Visit U.S. Bancorp on the web at www.usbank.com.
SOURCE: U.S. Bank
U.S. Bank Public Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com
or
Nicole Garrison-Sprenger, 612-303-0731
Nicole.sprenger@usbank.com
