Top SBA 7(a) Lenders (2000-2010)

For the second year in a row, Wells Fargo tops the list as the largest (gross $) lender of SBA 7(a) loans. For FYE 2010, JP Morgan Chase booked $434MM in SBA 7(a) loans, earning the bank a distant second place on this year’s list behind Wells Fargo’s $871MM.

SBA loan volumes are up across the board, but only slightly ahead of 2009 and significantly behind the heyday volumes seen from 2004 through 2007.  In 2010, JP Morgan Chase regained the top volume honors, booking 3,386 loans.

According to SBA.gov, recent government actions have produced results. Specifically, the SBA states that

compared to the depths of the recession, average weekly SBA loan volume is up over 70% and SBA secondary markets have returned closer to historical levels. In total SBA funding has supported nearly $13 billion of lending since ARRA was enacted on February 17, 2009.

Year | Volume Leaders | $ Loans | Velocity Leaders | # Loans
2010 Wells Fargo $871 Million JP Morgan Chase 3,386
2009 Wells Fargo $827 Million Superior Financial 2,690
2008 CIT Small Business $771 Million JP Morgan Chase 6,139
2007 CIT Small Business $882 Million Bank of America 10,878
2006 CIT Small Business $873 Million Bank of America 13,089
2005 CIT Small Business $801 Million Bank of America 11,911
2004 CIT Small Business $891 Million Bank of America 12,758
2003 CIT Small Business $754 Million Bank of America 9,406
2002 CIT Small Business $778 Million Bank of America 3,917
2001 CIT Small Business $582 Million Fleet Bank 2,889
2000 CIT Small Business $469 Million Fleet Bank 2,889

 

As the effects of the $300 billion Small Business Assistance Bill begin to slowly ripple through the economy SDR will keep a close eye on the volume and velocity of SBA loans.