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 The company financed $53.7 million in loans to local small businesses

November 18, 2011 (San Diiego)–Wells Fargo & Company (NYSE: WFC) is the No. 1 SBA lender for the second consecutive year, in both dollars and units, to San Diego and Imperial Counties’ small business owners. For the federal fiscal year 2011, October 1, 2010- September 30, 2011, Wells Fargo extended 108 loans totaling $53.7 million in SBA 7(a) financing to San Diego and Imperial Counties small business owners. 

"In today’s challenging economy, SBA Lending is an important option for small business owners seeking financing to sustain and build their businesses,” said Steven Doss, Wells Fargo’s Southern California SBA regional sales manager. “Wells Fargo is proud to be the leading SBA 7(a) dollar lender in San Diego and Imperial Counties. Small businesses create jobs, drive economic growth and are essential to our nation’s recovery. By extending more dollars to more small businesses, we give them the ability to invest today in their businesses and in their communities.” 

Wells Fargo is committed to serving small business owners. Locally, Wells Fargo has 22 business relationship managers, 18 business acquisition consultants, 18 commercial loan officers and four business development officers, all dedicated to serving San Diego and Imperial counties small business owners. 

Wells Fargo is also America’s #1 SBA lender in dollar volume for the third consecutive year – approving a record $1.2 billion in SBA 7(a) loans to America’s small businesses for the 2011 federal fiscal year.  The company increased SBA 7(a) financing to small business owners nearly 40 percent from 2010 levels when the company approved over $871 million. An SBA preferred lender in all 50 states, Wells Fargo also is the second largest SBA lender in units extending 3,142 loans in 2011, up 27 percent from 2010.

In San Diego and Imperial Counties, Wells Fargo has 107 banking locations and employs more than 3,100 team members.