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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 This material may not be published, broadcast, rewritten or redistributed.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 98 312 11,432
MORTGAGES 149 386 14,289
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 0 549 24,583
BANKRUPTCIES 59 243 8,675
BUSINESS LICENSES 11 93 3,864
UTILITY CONNECTIONS 0 374 13,831
MARRIAGE LICENSES 9 70 3,101

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