Wells Fargo & Company (WFC) Monday announced that it has approved a record $1.24 billion in Small Business Administration, or SBA loans during the fiscal year from 1st October 2011 to 30th September 2012.
The nationwide, diversified, community-based financial services company stated that this is the second year in a row that Wells Fargo has approved more than $1 billion in SBA loans to small business owners - the only lender to achieve this milestone.
"It is very rewarding to know that every SBA loan we extend is helping American small business owners build their businesses for the long term," said David Rader, head of Wells Fargo's SBA Lending Division.
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