MILWAUKEE, Nov. 4, 2011 /PRNewswire/ -- Associated Bank is once again the No. 1 Small Business Administration (SBA) lender in Wisconsin for fiscal year 2011, according to a recent SBA report.
From Oct. 1, 2010 to Sept. 30, 2011, Associated Bank made 250 SBA 7(a) loans for a total value of more than $39 million. This is the seventh year in a row that Associated Bank has authorized the highest number of SBA loans in Wisconsin, and the 12th time in 14 years.
"We congratulate Associated Bank for their continued commitment to small businesses and especially in the recent tough economic times," said SBA Wisconsin District Director, Eric Ness. "Associated Bank continues to be an integral partner in ensuring the small businesses in Wisconsin receive the capital they need to start, and to maintain and expand their businesses utilizing SBA loan programs."
Scott Webster of SagePoint Financial, Inc. in De Pere, an Associated Bank customer, is a great example of an SBA success story.
"After working at a firm for eleven years, I made the decision to make my dream come true and open my own company," said Webster. "Associated Bank and the Small Business Administration saw my potential and backed me every step of the way."
Webster's small business loan helped him to open the doors of his business this past April.
Nationally, Associated Bank ranked 16 out of 2,728 participating lenders in terms of SBA loans authorized in fiscal 2011. Borrowers self-reported that 980 new jobs were created and approximately 226 existing jobs were retained as a result of Associated Bank's SBA lending efforts in the states where it conducts business.
In Illinois, Associated Bank authorized nearly $17 million in SBA loans. Associated was ranked 3rd in the number of SBA loans and 6th in dollars authorized. This level of SBA performance represented an 85% increase in the number of SBA loans delivered in Illinois and a 242% increase in dollars of SBA loans extended year over year.
In Minnesota, Associated Bank authorized over $8 million in SBA loans. Associated was ranked 5th in the number of SBA loans, and extended 75% more SBA loan dollars in FY11 compared to the previous fiscal year.
"We are very proud once again to be able to celebrate being named the top SBA lender in Wisconsin," said Douglas Kohlbeck, Director of Business Banking at Associated Bank. "During these difficult economic times, we remain committed to supporting the businesses that support our local economies. We would like to thank all of our colleagues and customers who continue to make this possible year after year."
About Associated Banc-Corp
Associated Banc-Corp (NASDAQ: ASBC) has total assets of $22 billion and is one of the top 50 financial services holding companies operating in the United States. Headquartered in Green Bay, Wis., Associated has approximately 270 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota. The company offers a full range of banking services and other financial products and services. Associated Bank, N.A. is an Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.
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SOURCE Associated Bank