U.S. Bank, a decades-long supporter of small businesses through the U.S. Small Business Administration (SBA) lending program, ended the 2013 SBA fiscal year on September 30 with $639 million in volume and 2,519 loans committed. The totals represent a 22 percent increase in dollar volume over 2012 and a 52 percent increase in the number of loans provided. U.S. Bank was the second largest SBA lender by volume in the country for 2013.
U.S. Bank ranked first in both units and volume in the SBA districts of Kentucky, Portland, Seattle/Spokane and Tennessee. In addition, the company also ranked first in units in Iowa, Kansas City, Minnesota, Nevada, San Diego, Santa Ana (Calif.) and St. Louis. U.S. Bank was in the top three in either units or volume in a total of 22 SBA districts.
“Small business lending continues to be a focus for U.S. Bank and the business we did through the SBA Division is testament to the hard work of all of our small business teams nationwide,” said Julie Huston, executive vice president for the small business segment at U.S. Bank. “Our bankers stood by small business owners when times were tough, and although the small business sector still faces economic headwinds, they are proving their resiliency through their drive to grow and expand their operations.”
U.S. Bank’s commitment to the small business owner extends beyond banking and lending. U.S. Bank’s small business website, U.S. Bank Connect(TM), offers advice and networking opportunities to business owners of varying sizes and stages of their business life cycle. Follow Connect on Facebook or Twitter. The company also conducts the U.S. Bank Annual Small Business Survey that provides insight on the confidence, pressures and opportunities that small business owners are experiencing around the country. For more information on U.S. Bank’s full service offering to small businesses visit www.usbank.com/smallbusiness.About U.S. BankU.S. Bancorp (NYSE: USB), with $361 billion in assets as of Sept. 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,088 banking offices in 25 states and 4,937 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
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