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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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BB&T, Wells Fargo most-active small-business lenders in district

BB&T and Wells Fargo Bank were the most-active U.S. Small Business AdministrationĀ lenders this past fiscal year for the territory that includes most of Virginia.

BB&T made 79 SBA government-guaranteed loans during fiscal year 2013 in the territory covered by the Richmond District Office. That was more than any other lender for that SBA district.

Wells Fargo was second on the list with 71 loans, but the bank’s total loan volume of $32.9 million surpassed any other lender for the Richmond district.

StellarOne Bank, M&T Bank and Sonabank were the next-most-active small-business lenders in the district, in that order.

The SBA’s Richmond district includes most of Virginia, including all of the Fredericksburg area. The only Virginia localities that aren’t part of the Richmond district are the inner suburbs of Washington.

Overall the SBA’s Richmond office reported a 4.2 percent increase in SBA lending during fiscal year 2013 compared to the year before. The SBA’s fiscal year ended Sept. 30.

Permalink: http://news.fredericksburg.com/businessbrowser/2013/11/05/bbt-wells-fargo-most-active-small-business-lenders/

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