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Wells Fargo provided a five-year $100 billion lending plan to small business owners to augment capital to industry growth. The bank is doing this to help boost the economy, and hopefully, to create more jobs. The largest bank in Austin, Wells Fargo had a total of local deposits equivalent to $6.6 billion or a 21 percent market share.
According to Wells CEO and Chairman John Stumpf, Wells Fargo has lent the largest amount of money to small businesses than any other banks in the United States each year for the last 11 years. Wells Fargo is also the top dollar-volume lender under the SBA’s 7 (a) loan system during the recent 5 years. WellsFargoWorks.com is around to disseminate support on building credit, sustained growth, among others to business owners.