Arvest Bank says SBA loan volume up 45% in fiscal year 2015

Arvest Bank reported a spike in Small Business Administration (SBA) loan activity for the second consecutive year in 2015, with a 23% increase in loan approvals and a 45% rise in loan volume, the bank reported Tuesday (Feb. 2).

Arvest’s 7(a) loan approvals for the SBA fiscal year ending Sept. 30, 2015, was 187, up from 152 in 2014. These loans are the SBA’s primary means for helping startup and existing small businesses deal with a variety of general business purposes.

The bank’s SBA 7(a) loan volume, meanwhile, was $49.7 million in 2015, up from $34.2 million in 2014. The 2015 volume is Arvest’s highest since it had $41 million in 2012.

“We know how important small businesses are, not just in our community but to our national economy as well,” said Richard Winesburg, senior vice president and commercial loan manager for Arvest Bank in Springdale. “We are happy to facilitate so much SBA activity in 2015, and we will remain committed to helping small businesses in our market whenever possible.”

Arvest’s SBA growth is similar to what transpired nationwide. According to the SBA, more than 63,000 7(a) loans were made in fiscal year 2015 totaling $23.6 billion, up 22% and 23%, respectively, over fiscal year 2014.

Arvest also remains an SBA-preferred lender, meaning the process is streamlined for applicants.

Arvest Bank operates more than 270 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 16 locally managed banks, each with its own board of directors and management.