Jay Coles has been named Deputy District Director of the U.S. Small Business Administration (SBA) Arkansas District Office.
In his role, he will be charged with expanding delivery of SBA’s loan programs and services throughout the state’s 75 counties.
“Jay’s extensive experience in the banking industry, and in economic development will be an asset for the Arkansas Office as they continue to excel in serving small businesses in the state,” said Regional Administrator Yolanda Garcia Olivarez. “Close to 200 Arkansans received $94 million in SBA financing to start and grow their companies in fiscal 2012.” Olivarez heads SBA Region VI which serves Arkansas, Louisiana, New Mexico, Oklahoma and Texas.
Coles’ 30-year banking career includes positions as regional sales manager and lending specialist in both the commercial and agribusiness unit for Wells Fargo Financial, regional credit manager at Telemark, and vice president/marketing manager and credit analyst with Bank One in Louisville, Kentucky where he focused on new product development and territory expansion.
Coles has also worked at the Farm Credit Administration as an examiner-in-charge where he led a team to examine credit institutions nationwide. He also worked with the United States Department of Agriculture as an assistant to the Indiana USDA Chief of Programs where he was responsible for loan making and servicing of the economic emergency disaster loans and minority business financing.
Linda Nelson, Arkansas District Director, said Coles has already been an asset to small businesses in the state.
“He is goal-oriented and customer-focused. He is knowledgeable of all types of financing and does a great job of listening to find out the needs and concerns of a client and direct them to the best source. That is good customer service,” she said.
Coles is also a former small business owner. He is an Indiana native earning his bachelor’s degree from Purdue University in West Lafayette, Ind. where he majored in Agricultural Economics.