BBVA Compass Ranks Third Nationally in SBA 7(a) Loan Volume for Fiscal Year 2009
20 November 2009 - 5:58PM
PR Newswire (US)
2009 SBA 7(a) Lender of the Year reports 34% increase in loan
volume BIRMINGHAM, Ala., Nov. 20 /PRNewswire-FirstCall/ -- BBVA
Compass recently earned a third-place ranking among the nation's
top 2009 Small Business Administration (SBA) 7(a) Lenders according
to The Coleman Report 500, an industry information source for SBA
lenders. Despite a substantial decrease of 29 percent in total SBA
7(a) loan volume for fiscal year 2009, BBVA Compass generated a 34
percent increase in loan volume for 2009. BBVA Compass'
participation in the SBA 7(a) loan program has increased steadily
over the past four years, ranking 141st in 2006, 36th in 2007, and
18th in 2008. "Small businesses represent an important segment of
the U.S. economy and their entrepreneurial spirit has been a key
driver of innovation throughout American history," said Manolo
Sanchez, BBVA Compass president and chief executive officer. "Small
businesses represent the lifeblood of our communities, and as the
economic recovery progresses, they will play a vital role in
restoring positive job creation and economic growth." Sanchez
continued, "Utilizing our branch network to identify new
opportunities has allowed us to steadily increase SBA loan volumes
throughout our Sunbelt footprint. In addition we have avoided
unusual credit issues which could have diverted our attention from
meeting the capital needs of small businesses. Our top three
ranking proves that, even during challenging economic environments,
BBVA Compass is committed to meeting the needs of small businesses
and the communities in which we both serve and live." In addition
to earning a top three national ranking, earlier this year BBVA
Compass was selected as the 7(a) "Lender of the Year" for large
banking institutions for the fiscal year 2008 by the United States
Small Business Administration. According to the SBA, Lender of the
Year is given to institutions "that have used the SBA loan programs
to help the maximum the number of small business owners to obtain
the financing that they need to grow their businesses. These
lenders demonstrate their creativity by using the SBA loan programs
to assist those businesses that are not able to obtain conventional
financing on reasonable terms." "We believe that a strong small
business lending program helps create thriving communities, which
is why BBVA Compass has continued to increase our small business
lending despite an economic environment that has seen SBA 7(a)
lenders reduce their loan volumes in 2009 by 29 percent," said Greg
Clarkson, executive vice president and SBA division manager. "The
strength and stability of BBVA Compass has allowed us to move up
the rankings and will continue to allow us to provide capital to
those entrepreneurs seeking financing for their small business."
BBVA Compass offers a wide range of products and services to meet
the needs of any small business owner. From daily financial needs
such as checking accounts or merchant services to its Compass
BusinessClass® service with designated business teller windows and
an online business resource center, BBVA Compass provides products
and services to help businesses run more effectively - and more
successfully. Most recently, BBVA Compass launched Business
Build-to-Order Free Checking(SM). Our Build-to-Order free checking
account for businesses offers a range of core features, including
no minimum balance requirement, free processing of 500 items per
statement cycle, three free personalized check cards with
CompassPoints® rewards, and free Online Banking with Compass
Mobile® banking, alerts and unlimited Bill Pay. Business customers
can then choose additional benefits from a menu of premium
features. BTO for Business is one more way that BBVA Compass is
helping businesses while building solutions around our customer's
needs. ABOUT BBVA COMPASS BBVA Compass is a Sunbelt-based financial
institution that operates 741 branches including 410 in Texas, 92
in Alabama, 59 in California, 77 in Arizona, 45 in Florida, 36 in
Colorado and 22 in New Mexico. BBVA Compass is the 15th largest
U.S. commercial bank based on deposit market share and ranks among
the largest banks in Texas (4th), Alabama (3rd) and Arizona (5th).
Additional information concerning BBVA Compass can be found on our
website at http://www.bbvacompass.com/. BBVA Compass is a
subsidiary of Compass Bancshares, Inc., a wholly-owned subsidiary
of BBVA (NYSE:BBV) (MAD: BBVA). BBVA is a financial services group
with more than $785 billion in total assets, 48 million clients,
7,600 branches and approximately 105,000 employees in more than 30
countries. BBVA ranks among the top seven largest financial
institutions in the world based on market capitalization and 20th
in Global Finance magazine's list of the "World's 50 Safest Banks"
for 2009. BBVA provides its customers around the world with a full
range of financial services, including commercial and wholesale
banking, retail banking services, consumer loans, mortgages, credit
cards, securities brokerage, wealth management, pension plan
management and insurance. The BBVA Group maintains a leadership
position in Spain, Mexico, Latin America and the Sunbelt Region of
the United States as well as operations in China, France, Germany,
Hong Kong, Italy, Japan, Singapore, Switzerland, and the United
Kingdom. Editor's note: BBVA Compass is the brand name of Compass
Bank and is a trademark of Compass Bancshares, Inc. DATASOURCE:
BBVA Compass CONTACT: Ed Bilek, External Communications of BBVA
Compass, +1-205-297-3331, Web Site: http://www.bbvacompass.com/
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