MINNEAPOLIS, Nov 01, 2005 (BUSINESS WIRE) -- U.S. Bank, one of America's leading Small Business
Administration (SBA) lenders, set new lending records for fiscal year
2005, based on both total loans as well as for SBA loan dollar volume.
Through its SBA Division, U.S. Bank provided a record 3,398 SBA
guaranteed loans to small businesses nationwide, a 55 percent increase
over fiscal year 2004. In terms of loan dollar volume, U.S. Bank
provided $482,607,173 in loans, an eight percent increase over the
previous year, according to SBA information. Both results are new U.S.
For the fiscal year that ended on Sept. 30, U.S. Bank moved from
fourth to second among SBA bank lenders, and to third overall among
both bank and non-bank SBA lenders, according to the SBA.
"We attribute much of our record success this past year to the
increasing number of U.S. Bank small business customers who have taken
advantage of our easy-to-access SBAExpress loans that we worked so
hard to market in 2005," said David Bartram, president of U.S. Bank's
SBA Division. "Additionally, our Fees Paid program, whereby we pay the
upfront SBA loan fees on real estate loans, was very attractive for
many of our customers and that too gave our program a significant
U.S. Bank ranks in the top five by loan dollar volume in 14 of the
21 SBA Districts where it operates. It ranks first in St. Louis,
Kansas City, Nevada, Los Angeles and San Francisco, second in
Colorado, Minnesota, Portland, Santa Ana, and Seattle/Spokane, and
third in Utah.
U.S. Bank also ranks in the top five in number of loans in 17 of
the 21 SBA Districts where it operates. It ranks first in St. Louis,
Kansas City and Portland, second in Colorado, Columbus/Cincinnati,
Minnesota, Seattle/Spokane, and third in Cleveland, Kentucky,
Nebraska, Nevada and Wisconsin districts.
Additionally, U.S. Bank is again the leading SBA lender throughout
California in loan dollar volume, providing SBA loans of $149,286,200
to 465 small businesses statewide.
Through SBA Division, U.S. Bank operates 25 specially designated
SBA Business Centers nationwide. U.S. Bank is part of U.S. Bancorp
(NYSE:USB). With $207 billion in assets, U.S. Bancorp is the 6th
largest financial holding company in the United States. The company
operates 2,396 banking offices and 4,986 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 usbank.com.
SOURCE: U.S. Bank
Teri Charest, 612-303-0732
U.S. Bank SBA Division
Brian Butler, 858-536-4545 x204