So who were the top SBA lenders in the Los Angeles district based upon number of loans? The top five included:
- Innovative Bank
- Bank of America
- Washington Mutual
- Capital One
- Wells Fargo
Innovative Bank tripled its loan numbers compared with a year ago to replace Bank of America at the top of the heaps. According to The Times, Innovative Bank tends to make a lot of small loans (average of $22.6 thousand in 4th quarter) and is still implementing a number of changes resulting from a cease and desist order issued by the FDIC this past April.
The article points out that SBA lenders around the country are complaining about a new oversight fee that the SBA started charging this past fall. I wonder how much of that fee is being somehow passed through to borrowers.
Need help finding the right SBA lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!Tags : SBA , Bank of America , Innovative Bank , small business , credit crunch , Los Angeles
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