The U.S. Small Business Administration listed JPMorgan Chase as America’s number-one small business lender for 2012, the third consecutive year the bank has taken the top slot.
Chase approved 40 percent more SBA loans than its nearest competitor in 2012, increasing its overall business lending by 21 percent over the first three quarters of the year compared to the same period in 2011. Over the past nine months, the bank has provided $15.2 billion in loans and credit to small businesses.
Chase provided $5.5 billion in small business loans in California alone, a 60 percent increase from the previous year. The bank was also named the top SBA lender in Florida, where credit to small businesses rose 40 percent.
Additionally, Chase ranked in the top three in 15 states, including Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Louisiana, Michigan, New Jersey, New York, Ohio, Oklahoma, Texas and Utah. It was listed as the top SBA lender for Arizona, the Dallas/Fort Worth Metroplex, Florida, Illinois, Louisiana, New York and New Jersey.
“Extending credit is critically important to the health of our economy,” Chase Business Banking CEO Scott Geller said. “It’s an honor to partner with amazing business leaders whose compelling stories of success make a difference on main streets around the country.”