Arvest Bank Sees Record Numbers of SBA Loans in 2014

Wednesday, March 18 at 07:20 AM
Category: Business Banking

Nationally, Small Business Administration lending is growing, and Arvest Bank is on par with national numbers.

FAYETTEVILLE, Ark. – Arvest Bank made a record number of Small Business Administration loans in 2014. The bank made 145 new SBA loans, which was 22 percent higher than their previous record of 119, recorded in 2012. The new loans in 2014 represented more than $32 million in loan volume.

Across the nation, U.S. Small Business Administration (SBA) lending has been on the rise since the recession ended in 2008.** In 2014, there were a record 52,044 approvals of the 7(a) loan, the most common type of SBA loan.*** As 2015 is expected to see continued growth in SBA lending, educating and preparing small business owners on how to secure capital is more important than ever.

Small business growth and lending is essential for the economy both nationally and at the local level. This year we’re seeing even more opportunities to help small business owners and administrators gain access to funds they need to expand their businesses and build local communities.

An improved economy, stronger borrower collateral and higher confidence in lending may push SBA lending higher in 2015. Additionally, personal and business credit scores are just now reflecting improvement from the recession.*** 

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

Small business owners who need to explore their financing options should talk to an SBA-approved lender who can offer them the widest range of available programs. More information about SBA loans can be found at www.sba.gov.*

Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

**Source: 
www.sba.gov.*

***Source: nerdwallet.com:* SBA loan Outlook for 2015
 
Tags: Arvest Biz, Business Banking, Press Release
There are no comments associated with this entry.

Post a Comment

  •  
  •  
  • Website Address:
  •  

Choose one or more categories to subscribe to:




Cancel