Dallas/Fort Worth Hits Another Lending Record for Small Businesses in FY 2014
FORT WORTH-The Dallas/Fort Worth District office announced that fiscal year 2014 lending in the district’s 72 counties is up 10% over the previous year. The increase in lending put more than $881.1 million in the hands of 1,675 entrepreneurs and small business owners to expand their business and create jobs.
“We are fortunate to have a very supportive and vibrant lending community in the DFW District servicing area,” said Austin. “They show a strong commitment to strengthening our nation’s economy by providing financing to help small businesses start and grow by retooling their operations, purchasing new inventory or hiring new employees”.
In fiscal year 2013, SBA loans totaled $813 million with 1,522 loans and in fiscal year 2012, SBA loans amounts totaled $617.7 million with 1,448 loans in the DFW district. The top SBA lender for the district is Wells Fargo, which made 130 loans worth $53.7 million.
“This record year in lending can partly be contributed to our staff who played a great role in providing first-class service in its support of the district’s lending community and by doubling the marketing efforts and outreach across the 72 counties we represent” said Herbert Austin, DFW district director.
The SBA will continue to waive fees that borrowers pay on loans of $150,000 and less. “We are looking to surpass FY 2014 numbers and reach our goal of $900 million in loans and bring the number of loan units up for the district in FY 2015” said Austin.
The DFW district has over 900,000 small businesses across 72 counties.