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VOL. 129 | NO. 86 | Friday, May 02, 2014

Wells Fargo Sets $100 Billion Small-Business Lending Goal

AP

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NEW YORK (AP) – Wells Fargo has set a goal of at least $100 billion in new loans to small businesses over the next five years.

The bank, which announced the goal Thursday, plans a marketing and education program to make small businesses aware of its services. The company made nearly $19 billion in new small business loans last year.

San Francisco-based Wells Fargo & Co. wants to take advantage of small business owners' rising optimism. The bank's second-quarter Wells Fargo/Gallup Small Business Index rose to 47 from 45 in a survey taken in January. The gain was in line with other recent signs of small business confidence, including an increase in hiring and a pickup in borrowing.

Still, the index is well below the high of 114 it reached before the recession.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 85 354 12,626
MORTGAGES 113 438 16,470
FORECLOSURE NOTICES 21 98 3,290
BUILDING PERMITS 358 918 27,694
BANKRUPTCIES 55 276 10,490
BUSINESS LICENSES 18 120 4,204
UTILITY CONNECTIONS 78 429 16,350
MARRIAGE LICENSES 26 125 3,691

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