Is Wells Fargo Bank a good match for your SBA loan?
Wells Fargo Bank’s project state SBA 7(a) loan approvals in 2020.
Wells Fargo Bank Highlights
Wells Fargo Bank is the #1 all-time SBA 7(a) lender for both number of loan approvals and approval amounts. Wells Fargo Bank’s $32 billion in all-time SBA 7(a) approval amounts is more than twice that of the second rank lender. In 2020 YE Wells Fargo Bank ranked #3 in loan approvals and #5 in approval amounts.
All-time Wells Fargo Bank has approved 122,275 SBA loans for $32,184,005,364. They approved borrowers from 8,174 cities, for projects in 50 states, in 1,244 industries, and for 1,689 franchise brands.
In 2020 Wells Fargo Bank approved 1,568 SBA loans for $517,515,900. The average loan approval amount in 2020 was $330,048.
Wells Fargo Bank approved borrowers from 826 cities, for projects in 46 states, in 373 industries, and for 67 franchise brands. Wells Fargo Bank’s average loan approval amount to franchise businesses was $760,919 in 2020.
Our forecast model projects Wells Fargo Bank approving about $197 million for SBA 7(a) loans in 2021.
Read our SBA Lender page on Wells Fargo Bank for their full report, but below are a few highlights:
Wells Fargo Bank Historical SBA 7(a) Lending
Wells Fargo Bank Loan Approvals
2020 Top 25 Business Industries
Wells Fargo Bank approved the most loans for the Electronic Shopping and Mail-Order Houses industry followed by Lessors of Nonresidential Buildings industry and Landscaping Services industry. Wells Fargo Bank approved SBA 7(a) loans for 373 different industries in 2020.
Wells Fargo Bank Loan Amounts
Wells Fargo Bank’s average SBA loan approval amount in 2020 was $330,048.
74% of all Wells Fargo Bank approved loans in 2020 were for loan amounts up to $350,000.
66% of all Wells Fargo Bank approved loans in 2020 were for loan amounts up to $150,000.
Less than 11% of Wells Fargo Bank’s approved loans in 2020 were for loan amounts over $1 million.
3.76% of Wells Fargo Bank’s loan approvals were for multi-million loan amounts.
Wells Fargo Bank is the #3 Ranked National SBA Lender
For 2020 Wells Fargo Bank ranks #3 in number of loan approvals and #5 for approval amounts.
In 2020 Wells Fargo Bank approved 1,568 SBA 7(a) loans for $517,515,900.
Wells Fargo Bank’s average loan approval amount was $330,048.
In 2020 Wells Fargo Bank approved borrowers from 826 cities, for projects in 46 states, in 373 industries, and for 67 franchise brands.
Wells Fargo Bank is the #4 Ranked National SBA Franchise Lender
For franchise branded businesses, Wells Fargo Bank ranks #4 in number of loan approvals and #7 for approval amounts in 2020.
Wells Fargo Bank approved 116 loans in 2020 for 65 different franchise brands for $88,266,600 with an average loan amount of $760,919.
See our full (and free) SBA report on Wells Fargo Bank
This report has about everything a small business owner would want to know to determine if Wells Fargo Bank would be a good match for an SBA loan. See how Wells Fargo Bank ranks in multiple SBA loan categories, our SBA lending forecasts for Wells Fargo Bank, the top 25 industries and franchise brands Wells Fargo Bank approved loans with, the top project states and borrower cities, and more.
