DALLAS, TEXAS – The U.S. Small Business Administration (SBA) is honoring 16 lenders for their commitment to providing critical capital to South Central Region small businesses in 2018. Winners will be recognized during the annual Mid America Lender’s Conference (MALC) in Corpus Christi, Texas April 10. MALC is organized by the Central Texas Association of Government Guaranteed Lenders and brings together SBA Office of Capital Access leaders with lenders region-wide to provide updates to loan programs and enhance collaboration.
“The impact of these high-achieving, dedicated lenders can be felt throughout our communities as they supply needed funding to entrepreneurs to start or expand small businesses and create good-paying American jobs that help strengthen our economy,” Justin Crossie, regional administrator said. “Although we will spotlight 16 top lenders in the region, we appreciate and value each of our lending partners. By working together with 371 lenders in calendar year 2018, we approved nearly $4 billion in funding to 6,116 small businesses, supporting 70,000 jobs in Arkansas, Louisiana, New Mexico, Oklahoma and Texas.”
Regional Administrator Crossie will present regional awards to the following lenders who approved the highest number of loans throughout the region’s five-state area:
Wells Fargo Bank, 2019 National Region VI Lender of the Year based on highest number of 7(a) loans. Wells Fargo approved 534 loans for $138 million.
Wallis State Bank, 2019 Region VI Small Bank 7(a) Lender of the Year approved 81 loans for $90 million.
Veritex Community Bank, 2019 Region VI Large Bank 7(a) Lender of the Yearapproved 74 loans for $114 million.
Capital Certified Development Corporation, 2019 Region VI 504 Lender of the Year approved 101 loans for $99 million.
LiftFund, 2019 Region VI Community Advantage Lender of the Year approved 62 loans for $8 million.
PeopleFund, 2019 Region VI Microlender of the Year approved 42 loans for $1.3 million.
District Impact Lenders of the Year will also be recognized during the awards ceremony. The following lenders will be distinguished for their outstanding achievements in each of the 10 Districts in Region VI.
San Antonio District recognizes Frost Bank for solidifying their focus and commitment to SBA lending. Frost Bank’s 7(a) loan dollars increased 430 percent to $18.5 million in 2018, and the number of loans increased 229 percent approving 39 units in 2018.
Arkansas District recognizes Arvest Bank for their longstanding commitment to SBA lending programs. In the past five years, Arvest has made 321 small business loans for nearly $105 million, which supported an estimated 3,000 Arkansas jobs.
Dallas-Fort Worth District recognizes MidWest Regional Bank for their outstanding performance and commitment to North Texas small businesses. MidWest Regional Bank increased loan approvals 4,000%, approving 41 loans in 2018, up from just one loan in 2017.
El Paso District recognizes Wells Fargo Bank for their commitment to small business by approving low-dollar loans from $120,000 to $190,000 dollars for the past two years. In 2018, Wells Fargo approved 21 loans for $2.5 million in the El Paso District.
Houston District recognizes Spirit of Texas Bank for their attention to and significant results in lending to women-owned, minority, rural and, veteran-owned small businesses. In 2018, Spirit of Texas Bank loan approvals totaled $27,150,750.
Louisiana District recognizes JP Morgan Chase for their increasing use of the SBA Express Loan Program in support of small businesses. In 2018, JP Morgan Chase generated 52 loans for $12.3 million making them number one in Louisiana 7(a) lending.
Lower Rio Grande Valley District recognizes PeopleFund for their efforts and commitment to startup businesses. PeopleFund generated 11 loans for $1.2 million with 91 percent of these loans approved for new businesses in the Lower Rio Grande Valley District.
Lubbock-West Texas District recognizes the Southwest Bank of Odessa, Texasfor their strong commitment as a top volume lender in the Lubbock-West Texas District. Southwest Bank of Odessa generated 18 loans for nearly $10 million in 2018.
New Mexico District recognizes Western Commerce Bank for their long-time support of SBA funding programs. In 2018, Western Commerce Bank was the number one community bank closing 30 loans for more than $14 million in New Mexico.
Oklahoma District recognizes First United Bank & Trust Company in Durant for increasing SBA loan volume three-fold from the previous year. Nearly 50 percent of their Oklahoma loan approvals were made to borrowers located in rural and Historically Underutilized Business Zone (HUBZone) areas.
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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.