U.S. Bank's SBA Loans Increased Nearly 14 Percent in 2007

U.S. Bank increased its U.S. Small Business Administration (SBA) loan total by 13.8 percent for fiscal 2007, according to SBA information. U.S. Bank SBA Division provided a record 5,353 SBA-guaranteed loans to small businesses nationwide, up from 4,703 in fiscal 2006. The total ranked U.S. Bank fourth among SBA lenders nationally. The SBA fiscal year ended Sept. 30. In terms of loan Dollar volume, U.S. Bank ranked third nationally among SBA bank lenders and fourth overall among both bank and non-bank SBA lenders, with a dollar volume of $486,384,707 according to the SBA. U.S. Bank is the leading SBA lender for loan dollar volume in Los Angeles, Nevada, Portland, Seattle/Spokane and Tennessee. "U.S. Bank is committed to providing products and services designed to help our small business customers be successful,” said Michael Rizzo, executive vice president at U.S. Bank. "Certainly SBA Division’s record sales volume is a result of teamwork on the part of our thousands of banking professionals who focus daily on providing exactly what small businesses need.” U.S. Bank ranks in the top five in total number of loans in 20 of the 27 SBA districts where it operates. It ranks first in Minnesota, Iowa, Colorado, Nebraska, Portland, Sacramento, San Diego and St. Louis; second in Boise, Kansas City, Kentucky, Nevada, Seattle/Spokane, Tennessee, and Wisconsin SBA Districts. U.S. Bank operates 24 specially designated SBA Business Centers nationwide. U.S. Bank is part of U.S. Bancorp (NYSE:USB). With $228 billion in assets, U.S. Bancorp is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,512 banking offices and 4,870 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.