LOS ANGELES--(BUSINESS WIRE)--Nov. 9, 2004--U.S. Bank, one of
America's leading Small Business Administration (SBA) lenders, is
again California's leading SBA lender based on loan dollar volume for
fiscal year 2004. It is the third consecutive year that U.S. Bank has
led SBA lenders in California. U.S. Bank is also the top lender in the
Los Angeles and Santa Ana SBA districts.
Through its SBA Division, U.S. Bank provided overall SBA loans of
$176,913,300 to 400 small businesses statewide, based on information
provided by the SBA. U.S. Bank outpaced Bank of America ($126,529,000)
and Wells Fargo Bank ($114,412,500) in SBA guaranteed loans made
through the SBA's six California district offices. According to the
SBA, 12,248 California small businesses received $2,647,141,853 in SBA
loans from 196 lenders during FY 2004, which ended Sept. 30.
Based on dollar volume, U.S. Bank is the leading SBA lender in two
California SBA Districts: Los Angeles District ($96,316,000), and
Santa Ana District ($32,778,600). U.S. Bank is third in San Francisco
"We are especially pleased to be the leading SBA lender in
California again as we had to overcome both a five week SBA shutdown
as well as a restrictive loan cap during 2004," said David Bartram,
president of U.S. Bank's SBA Division. "Our number one status is
largely due to a growing business referral network within our bank and
we expect these internal relationships to expand and mature in 2005 as
well," Bartram added.
Nationwide, U.S. Bank broke a record with overall SBA guaranteed
loans of $445,227,400 to 2,188 small businesses in FY 2004, a 3.2
percent increase over FY 2003. U.S. Bank ranks fourth among SBA bank
lenders and fifth among both bank and non-bank SBA lenders, according
to SBA information.
U.S. Bank ranks in the top five by loan dollar volume in 15 of 26
SBA Districts where it operates. It ranks first in Minnesota and St.
Louis, second in Kansas City, Portland and Seattle, third in San
Francisco, fourth in Kentucky, Nevada, Spokane and Tennessee and fifth
in Arizona, Colorado and San Diego. U.S. Bank also ranked in the top
five in number of loans in 15 of the 26 SBA Districts where it
operates. It ranked first in St. Louis, second in Kansas City,
Minnesota, Portland and Seattle, third in Colorado Kentucky, Nevada,
Tennessee and Wisconsin, fourth in Boise, Cleveland, Illinois and
Spokane and fifth in Columbus/Cincinnati and Utah.
Through SBA Division, U.S. Bank operates six specially designated
SBA Business Centers in California and 25 nationwide. U.S. Bank is
part of U.S. Bancorp (NYSE:USB). With $193 billion in assets, U.S.
Bancorp is the 6th largest financial services holding company in the
United States. The company operates 2,346 banking offices and 4,621
ATMs in 24 states, 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 in which the company pays
customers if certain key banking benefits and services are not met.
Visit U.S. Bancorp on the web at www.usbank.com.
CONTACT: U.S. Bank
Teri Charest, 612-303-0732
U.S. Bank SBA
Brian Butler, 858-536-4545 x204
SOURCE: U.S. Bank