Bank of America announced it has been named the top Small Business Administration (SBA) lender in the nation for the tenth consecutive year. Bank of America made 10,878 SBA 7(a) loans with an average amount of $30,863 and totaling $335.73 million to entrepreneurs during the 2007 SBA fiscal year, which runs from October 1, 2006 to September 30, 2007.I don't know the source on the raw data so I can't tell you how Bank of America supports this claim to a tenth consecutive national championship. It's unclear if this national championship includes the SBA 504 program for real estate loans.
One thing seems clear. With an average loan amount of just over $30,000, Bank of America is serving small business.
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Tags : SBA , Bank of America , 7a loan , small business
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