Arvest Bank continued to be a top U.S. Small Business Administration (SBA) lender within its footprint in 2018, based on loan production.
That’s based on data for the SBA fiscal year ending Sept. 30. In Arkansas, for example, Arvest was the No. 1 SBA lender for the fifth consecutive year, based on its number of 7(a) loan approvals. Arvest made 64 such loans, totaling more than $27.2 million.
In Oklahoma, Arvest made 37 loans totaling more than $30.4 million. That ranks second in the state in terms of both number of loans and total loan volume.
Arvest also ranked among the top 10 in the number of SBA loans made in eastern Kansas and western Missouri, according to the Kansas City District Office. Arvest’s 18 loans totaled more than $6.1 million.
“Small businesses are the heart of so many communities. We appreciate the trust our customers place in Arvest for their small business needs, and for providing us the opportunity to contribute to their success,” said Jim Cargill, president and CEO of Arvest Bank in northeast, central and southwest Arkansas. “We are proud to again be recognized as a leader for our work in providing loans to these businesses.”
SBA 7(a) loans are its primary means for helping startup and existing small businesses deal with a variety of general business purposes, and Arvest remains an SBA-preferred lender, meaning the process is streamlined for applicants. Small business owners who need to explore financing options should talk to an SBA-approved lender who can offer them a complete range of available options.