SBA Lending Poised for a Record Year

One piece of good news inside the endless assortment of negative data. This week Wells Fargo & Co. announced it extended $1 billion in loans back by the Small Business Administration over the past 11 months. They reported that those loans reached some 2,600 businesses.


According to the SBA, the bank is the first to reach this milestone in the government's fiscal year. While Wells Fargo has always been a heavy-hitting SBA lender, its status this year is particularly noteworthy because it points to a larger trend. SBA lending is up overall, hitting pre-recession levels.

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