Jay Coles Named Deputy District Director of SBA's Arkansas Office

U.S. Small Business Administration said Tuesday that Jay Coles has been named deputy district director of SBA's Arkansas District Office.

The SBA said Coles will expand delivery of SBA's loan programs and services throughout the state's 75 counties.

"He is goal-oriented and customer-focused," Linda Nelson, Arkansas district director, said. "Coles has already been an asset to small businesses in the state. He is knowledgeable of all types of financing and does a great job of listening to find out the needs and concerns of a client and direct them to the best source. That is good customer service."

Coles' 30-year banking career includes positions as regional sales manager and lending specialist in both the commercial and agribusiness unit for Wells Fargo Financial, regional credit manager at Telemark, and vice president, marketing manager and credit analyst with Bank One in Louisville, Ky. where he focused on new product development and territory expansion.

Coles has also worked at the Farm Credit Administration as an examiner-in-charge where he led a team to examine credit institutions nationwide. He also worked with the U.S. Department of Agriculture as an assistant to the Indiana USDA Chief of Programs where he was responsible for loan making and servicing of the economic emergency disaster loans and minority business financing.

"Jay's extensive experience in the banking industry, and in economic development will be an asset for the Arkansas office as they continue to excel in serving small businesses in the state," Regional Administrator Yolanda Garcia Olivarez said in a news release. "Close to 200 Arkansans received $94 million in SBA financing to start and grow their companies in fiscal 2012."

Olivarez leads SBA Region VI, which serves Arkansas, Louisiana, New Mexico, Oklahoma and Texas.