U.S. Bank Ends SBA Fiscal Year with $525 Million in Volume, Moving up to
Second Nationally with Continued Strength in Key Markets
MINNEAPOLIS -- October 23, 2012
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
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. Bank
U.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.
Teri Charest, U.S. Bank Public Relations
(612) 303-0732, firstname.lastname@example.org
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