HOUSTON, Nov. 11, 2016 /PRNewswire/ -- BBVA Compass, the nation's 22nd-largest bank by deposit market share, is punching way above its weight in its drive to become the lender-of-choice for entrepreneurs and small businesses.
For the fiscal year that ended Sept. 30, 2016, BBVA Compass approved 1,801 loans under the Small Business Administration's flagship 7(a) loan program, becoming the program's fifth most-active lender by total number of loans and 10th by dollar volume. The top five were dominated by some of the largest banks in the country, with Wells Fargo, JPMorgan Chase and U.S. Bank claiming spots.
"The SBA is the No. 1 provider of long-term financing for small businesses — whether it's dentists, doctors, fast-food restaurants, manufacturers, wholesalers, dry cleaners, you name it," said Greg Clarkson, who is in charge of SBA lending for BBVA Compass. "In that way, it's the engine of Main Street, and we want to do what we can to keep it humming."
About BBVA Group BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The BBVA Group is the largest financial institution in Spain and Mexico, has leading franchises in South America and the Sunbelt region of the United States and is also the leading shareholder in Garanti, Turkey's largest bank based on market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at bbva.com.
About BBVA Compass BBVA Compass is a Sunbelt-based financial institution that operates 674 branches, including 345 in Texas, 89 in Alabama, 75 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (4th). BBVA Compass was recently named Best Digital Bank in North America by global finance magazine Euromoney, and earned top nods for best mobile app and best regional bank in the South & West in Money magazine's annual list of the Best Banks in America. Additional information about BBVA Compass can be found at bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
Editor's Note: BBVA Compass is a trade name of Compass Bank.