Arvest Named States Largest Small-Business Lender
by January 7, 2012 10:57 pm 86 views
Arvest Bank was Arkansas’ largest small-business lender in 2011, according to records from the Arkansas District Office of the U.S. Small Business Administration. The SBA’s fiscal year ended Sept. 30.
The records indicate Arvest provided funding for more than $42 million in SBA loans produced in Arkansas in 2011, which is a 16.67 percent increase over what it generated in the same type of loans in 2010.
“It is a privilege to help small-business owners in towns and cities across the state obtain the capital they need to grow, expand, hire and succeed,” Arvest senior vice president and SBA loan administrator Jackie Randle said in a prepared statement.
“The SBA loan program is essential in making it possible to meet these needs and we plan to continue to grow our SBA loan portfolio.”
The SBA provides support to small businesses to apply for loans through banks or financial institutions. The SBA does not make direct loans to businesses, but acts as a guarantor on loans.