Fayetteville-chartered Arvest Bank was Arkansas’s top U.S. Small Business Administration (SBA) lender for the ninth consecutive year. The ranking is based on 7(a) loan production for the SBA fiscal year that ended Sept. 30, 2022.
In a news release, the company said it ranked third and fourth in Oklahoma and Kansas, respectively.
Arvest led Arkansas in both the total number (45) and total volume ($8.6 million) of SBA 7(a) loans. In Oklahoma, the total loan count was 47, and the total volume was $13 million. In Kansas, Arvest issued 18 loans with a total volume of $5.9 million.
“Small businesses are the backbones of the communities we serve. We’re pleased to be the leading lender in Arkansas and among the top lenders in Oklahoma and Kansas,” Brad Crain, Arvest Benton County President, said in a statement. “We’re happy to be able to help meet the financial needs of these businesses because we know that their continued success is vital to the health of communities.”
The SBA’s 7(a) loans help startups and existing small businesses deal with various general business purposes. Arvest is an SBA Preferred Lender, meaning the process is streamlined for applicants.
Arvest Bank has more than $26 billion in assets and has retail banking operations in Arkansas, Kansas, Missouri and Oklahoma.