Further extending its influence in the Grand Canyon State, Wells Fargo announced this week that it is Arizona's No.1 Small Business Administration lender in terms of dollars invested for the fourth year in a row. This is in addition to the financial services firm's current claim as the No. 1 lender to small businesses in the state.
Wells Fargo issued 188 loans totaling more than $73.5 million to Arizona small businesses during the fiscal year ending September 30, 2010.
"Our impressive SBA lending numbers complement an already robust lending program, including conventional business loans and small business lines of credit," said Dean Rennell, regional president for Wells Fargo Business Banking in Arizona. "As always, we stand ready to help our small business customers and are actively seeking business lending opportunities."
As a major lender, Wells Fargo maintains an active presence in the state's businesses matters, sponsoring the annual Copper Cactus small business award since 1998.
With a relatively high unemployment rate of 9.7 percent, Arizona has matched the rest of the nation in small business growth. With many of the state's entrepreneurs looking to form an LLC in Arizona, hopes are high that such lending practices will further encourage small business activity.
Tags : az, llc filing, operations, small business management
Posted: Nov 11th, 2010