U.S. Bank Leads SBA Lending in St. Louis Metro Area
Locally Based Midwest Regional Bank Ranks Second
ST. LOUIS, MO – U.S. Bank is currently the leading Small Business Administration (SBA) lender to small businesses in the St. Louis Metropolitan Statistical Area between March 1, 2012 and February 28, 2013, according to the U.S. Small Business Administration. U.S. Bank used SBA-guaranteed loans to originate 69 loans totaling $14,651,900 across seven Missouri counties and five Illinois counties over the past 12 months.
Festus-based Midwest Regional Bank ranked second, using SBA’s guaranteed loan programs to originate 14 loans totaling $13,716,000 over the same period. Bank of Washington ranked third with 10 loans totaling $8,565,200.
Between the start of March 2012 and end of February of 2013 the SBA locally guaranteed 446 loans totaling $195,475,400 over that 12 month period in the St. Louis Metropolitan Statistical Area. SBA guaranteed 386 loans totaling $163,641,900 in the Missouri counties of Franklin, Jefferson, Lincoln, St. Charles, St. Louis, Warren, and the city of St. Louis. All of Eastern Missouri, including these counties, are served by the SBA St. Louis District Office. Over the same period, SBA guaranteed 60 loans totaling $31,833,500 in the Illinois counties of Clinton, Jersey, Madison, Monroe and St. Clair. The Metro East counties are served by the SBA Illinois District Office, located in Chicago.
Dennis Melton, SBA St. Louis District Director, notes, “Lending is growing stronger locally as the economy improves. More small businesses are obtaining the money they need to buy new equipment, expand, and hire new employees. The economy is improving in the St. Louis Metro Area, the state of Missouri, and nationally.” He adds, “I continuously meet grateful business owners who have been assisted by the SBA—through lending, counseling, training, contracting, export assistance, disaster assistance, or a combination of services. We’re here to support small businesses and we’re glad to see more businesses able to take advantage of the opportunities generated with the economic upturn.”
Below are the top ten SBA lenders by total loan dollars across the seven Missouri and five Illinois counties that make up Metropolitan St. Louis area. These figures do not include microloans or disaster loans in the area.
Lender Name: US Bank
Total loan dollars: $14,651,900
Total loans: 69
Lender Name: Midwest Regional Bank
Total loan dollars: $13,716,000
Total loans: 14
Lender Name: Bank of Washington
Total loan dollars: $8,565,200
Total loans: 10
Lender Name: Pulaski Bank
Total loan dollars: $6,348,800
Total loans: 8
Lender Name: Enterprise Bank
Total loan dollars: $4,733,800
Total loans: 4
Lender Name: Regions Bank
Total loan dollars: $4,662,400
Total loans: 6
Lender Name: Business Bank of STL
Total loan dollars: $3,657,800
Total loans: 12
Lender Name: Bank of Belleville
Total loan dollars: $2,958,000
Total loans: 4
Lender Name: Commerce Bank
Total loan dollars: $2,823,600
Total loans: 20
Lender Name: Peoples National Bank
Total loan dollars: $2,818,100
Total loans: 15
For more information about lending and other SBA services, contact the St. Louis District Office at 314-539-6600 or visit http://www.sba.gov/mo/stlouis. The Illinois District Office can be reached at 312-353-4528 or by visiting http://www.sba.gov/il.