MINNEAPOLIS, Nov 12, 2003 (BUSINESS WIRE) -- U.S. Bank, one of America's
leading Small Business Administration (SBA) lenders, increased its SBA loan
production by 47 percent based on actual loans and by 11 percent based on dollar
volume in 2003.
Through its SBA Division, U.S. Bank provided record overall SBA loans of
$535,863,809 to 1,793 businesses nationwide. The total includes 1,653 SBA
guaranteed loans for $431,652,100 and 140 non-guaranteed, SBA-related loans for
$104,211,709 during SBA's fiscal 2003, which ended Sept. 30.
According to the SBA, U.S. Bank ranked second among bank lenders making SBA
guaranteed loans for the year and fourth among bank and non-bank lenders based
on dollar volume.
"We are especially pleased with our results this year because we were able to
overcome the five-month SBA mandated loan cap with the flexibility of adding
non-guaranteed financing to meet the special needs of 140 customers," said David
Bartram, president of U.S. Bank's SBA Division. "In 2004 we are expecting to
grow our business through enhanced referral relationships with our partners
within U.S. Bank who will continue to market the benefits of SBA financing to
U.S. Bank is the leading SBA lender based on loan dollar volume in the
individual SBA Districts of St. Louis, Santa Ana, Los Angeles, San Francisco,
and the entire states of California and Nevada. Additionally, U.S. Bank ranked
second in the Minnesota, Nebraska, Seattle, and Portland SBA Districts in terms
of dollar volume.
U.S. Bancorp, with assets of $189 billion, is the eighth largest financial
services holding company in the United States. The company operates 2,201
banking offices and 4,506 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 is home of the Five Star
Service Guarantee which assures customers of certain key banking benefits and
services or customers will be paid for their inconvenience. U.S. Bancorp is the
parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.
SOURCE: U.S. Bank
CONTACT: U.S. Bank
Steve Dale, 612-303-0784
U.S. Bank SBA
Brian Butler, 858-536-4545 ext. 204
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SOURCE: U.S. Bank