U.S. Bank Provides Record $503,912,300 in SBA Loans in 2008

MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank increased its U.S. Small Business Administration (SBA) loan dollar volume total by 3.6 percent for fiscal 2008, according to SBA information. Through its SBA Division, U.S. Bank provided a record $503,912,300 in SBA-guaranteed loans to small businesses nationwide, up from $486,384,707 in fiscal 2007. The total ranked U.S. Bank third among SBA lenders nationally. The SBA fiscal year 2008 ended Sept. 30. U.S. Bank is the leading SBA lender for loan dollar volume in Kansas City, Los Angeles, Nevada, San Francisco, Seattle/Spokane, and St. Louis SBA Districts.

“We're very pleased the SBA Division achieved another record loan dollar volume this year”

In terms of total loans funded, U.S. Bank also ranked third nationally among SBA lenders providing 3,955 loans nationwide, according to the SBA. U.S. Bank is the leading SBA lender for total loans in Iowa, Colorado, Kansas City, Kentucky, Minnesota, Nebraska, Nevada, Portland, Sacramento, San Diego, Seattle/Spokane, and St. Louis SBA Districts.

“We're very pleased the SBA Division achieved another record loan dollar volume this year,” said Erik Daniels, national sales manager of U.S. Bank’s SBA Division. “The SBA Division’s success is attributable to our efforts to build long-term relationships, a focus on our building deeper relationship initiatives, our addition of new staff, and our expanding network of external SBA loan sources," Daniels added.

In both loan dollar volume or total loans U.S. Bank ranks in the top five in 18 of the 27 SBA districts where it operates.

U.S. Bank operates 26 specially designated SBA Business Centers nationwide. U.S. Bancorp (NYSE:USB), with $247 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States as of June 30, 2008. The company operates 2,556 banking offices and 4,903 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.