Wells Fargo receives Director’s Award

Wells Fargo Bank was awarded the Director’s Award for its commitment to small business financing using U.S. Small Business Administration programs.

Wells Fargo approved 10 loans and $8 million in small business financing in North Dakota under SBA’s 7(a) General Business Loan Program and is among six North Dakota lenders being recognized by the SBA.

“SBA lending is an important way we provide business owners essential financing to build their businesses and help them achieve their long-term goals,” said Judd Graham, Wells Fargo business banking manager and market president for Fargo.

“We are truly grateful for the commitment these lenders made in providing needed financing to small businesses,” offered Jim Stai, district director of the SBA’s North Dakota District Office. “Working with lending partners throughout the state, SBA was able to help grow our economy and add jobs.”

More than $98.9 million in total lending was supported by SBA and its lending partners this past fiscal year ending Sept. 30, 2012. This included $47.8 million under the agency’s largest loan program, the 7(a) General Business Loan Program and a supported $51.2 million in small business lending under the 504 Certified Development Company Loan Program.

Tags: local business, business