Top SBA Bank Cut Loans By 50%

Keyword: SBA Loans

Here's a real contradiction for you. The top SBA funder in the whole nation cut its lending absolutely in half from a year ago. Honest.

Birmingham’s BBVA Compass was named Loan Lender of the Year by the U.S. Small Business Administration for doling out the largest amount of 7(a) loans across the nation.

The bank was one of nine financial institutions honored this week in Washington, D.C., for its efforts to support small businesses in their endeavors, which will must play an integral role in fixing the broken economy.

While BBVA Compass was the top lender nationally, the Birmingham Business Journal recently pointed out that the bank reduced its Alabama-based SBA loans in half to $3.7 million year-over-year, versus $7.5 million the year before. The bank’s total loans declined to 48 in Alabama, versus 87 the year before.

And this is the TOP SBA lender in the whole nation. Good grief, what are the rest of them doing?