Arvest Bank was the top U.S. Small Business Administration (SBA) lender in the state of Arkansas for the ninth consecutive year and ranked third and fourth in Oklahoma and Kansas respectively, bank leaders announced recently.
The ranking is based on 7(a) loan production for the SBA fiscal year that ended Sept. 30, 2022.
Arvest led Arkansas in both total number (45) and total volume ($8.6 million) of SBA 7(a) loans. In Oklahoma, the total loan count was 47 and total volume was $13 million. In Kansas, Arvest issued 18 loans with a total volume of $5.9 million.
“Small businesses are the backbones of the communities we serve. We’re pleased to be the leading lender in Arkansas and among the top lenders in Oklahoma and Kansas,” said Ron Witherspoon, president and CEO of Arvest in Central Arkansas. “We’re happy to be able to help meet the financial needs of these businesses because we know that their continued success is vital to health of communities.”
The SBA’s 7(a) loans are its primary means for helping startup and existing small businesses deal with a variety of general business purposes, and Arvest remains an SBA Preferred Lender, meaning the process is streamlined for applicants. Business owners who need to explore financing options should talk to an SBA Preferred Lender who can offer them a complete range of available options.