Arvest Bank Recognized By SBA as a Top 5 Lender in Missouri

Wednesday, August 31 at 07:05 AM
Category: Arvest News

Arvest made 44 SBA loans in fiscal year 2015, totaling more than $11.7 million. 

MISSION, Kan. - The United States Small Business Administration (SBA) recently recognized Arvest Bank as a 2016 SBA Top 7(a) Lender of the Year in the Kansas City District. The designation is based on the number of loans secured during fiscal year 2015.

Arvest made 44 SBA loans in fiscal year 2015, totaling more than $11.7 million. Both numbers are increases over fiscal year 2014, when Arvest made 35 SBA loans with total volume of more than $6.8 million.

“Small businesses greatly contribute to the success of local communities and our national economy as a whole,” said Mark Larrabee, President and CEO of Arvest Bank in the Greater Kansas City market. “We are honored to be part of the success of these entrepreneurs by providing them with banking solutions that not only help get their businesses started, but also help them grow and reach the financial goals they have set for their companies.”

According to the SBA, small businesses create almost two-thirds of net new jobs every year and employ more than half of all Americans. Fiscal Year 2015 was a record year in lending for the SBA, which helped provide almost $33 billion in loans through its 7(a) and 504 loan programs. The 7(a) loan program is a general small business loan for start-up or existing companies. Small businesses apply for a 504 loan to finance fixed assets such as real estate and equipment.  

The SBA helped create or retain more than 680,000 jobs nationwide during the 2015 fiscal year.  

Tags: Arvest Biz, Business Banking, Missouri, Press Release, SBA.gov
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