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U.S. Bank Ends SBA Fiscal Year With $525 Million In Volume, Moving Up To Second Nationally With Continued Strength In Key Markets

U.S. Bank, a decades-long supporter of small businesses through the U.S. Small Business Administration (SBA) lending program, ended the 2012 SBA fiscal year with $525 million in volume and 1,661 loans committed as the small business sector continues to strengthen. That makes U.S. Bank the second-largest SBA lender in the country for 2012, moving up from third place in 2011.

In terms of dollar volume, U.S. Bank ranked first in Kentucky and Tennessee, and was as one of the top ten lenders in 27 of the 29 SBA districts. U.S. Bank ranked first in the number of loans in Kansas City, Minnesota, Portland, Seattle/Spokane, St. Louis, and Tennessee, and ranked as one of the top ten lenders in 21 of the 29 SBA districts.

“This was a great year for SBA lending for U.S. Bank and for SBA lenders nationwide, second only to 2011 which was a record year,” said Julie Huston, president of U.S. Bank SBA Division. “We continue to see growth as small businesses seek capital to expand their business. U.S. Bank has been a strong advocate of these businesses for decades, not only through the SBA program but in providing small business owners with resources and tools to more efficiently run their business.”

Earlier this year, U.S. Bank introduced a website exclusively for small business owners called Connect ( usbankconnect.com). The company also rolled out a charge card for businesses that combines the spending convenience of a card without annual fees or interest rates because the card is paid in full each month.

Small business owners provide their opinions on the economy and the state of their business in an annual survey conducted by U.S. Bank. In the 2012 U.S. Bank Small Business Survey, conducted between March and April 2012 in the 25 states where U.S. Bank provides small business banking services, 69 percent of Washington small business owners consider the financial health of their company as “good” to “excellent,” up from 63 percent in 2011 and 57 percent in 2010. The full results of the 2012 U.S. Bank Small Business Survey are available on Connect, a website by U.S. Bank that is dedicated to the interests of small business owners.

About U.S. BankU.S. Bancorp (NYSE: USB), with $352 billion in assets as of Sept. 30, 2012, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,086 banking offices in 25 states and 5,080 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.

Copyright Business Wire 2010

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