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Arvest Leads Arkansas in SBA Lending, Again

2 min read

Arvest Bank of Bentonville shared some predictable good news for the new year on Monday, announcing it was Arkansas’ top maker of U.S. Small Business Administration loans for fiscal 2022.

It was the ninth consecutive year the bank has led the SBA lending list in Arkansas, and Arvest was third among banks in Oklahoma and fourth in Kansas, the company said in a news release.

The rankings are based on 7(a) loan production during the SBA fiscal year that ended Sept. 30. The 7(a) loans comprise the administration’s primary program for offering financial help to small businesses, and they are the SBA’s most common loans.

Arvest made the most such loans in Arkansas, 45, and had the largest volume at $8.6 million.

Ron Witherspoon, president and chief executive officer of Arvest in Central Arkansas, called small businesses the backbone of the communities Arvest serves. “We’re pleased to be the leading lender in Arkansas and among the top lenders in Oklahoma and Kansas,” he said in the release. “We’re happy to be able to help meet the financial needs of these businesses because we know that their continued success is vital to the health of communities.”

The 7(a) loans help startup and existing small businesses with various general business needs, and Arvest is designated as an SBA Preferred Lender, which allows it to streamline the loan process for applicants. In the release, the bank urged business owners with lending needs to explore financing options with a preferred lender.

Arvest, established in 1961, is led by Chairman and CEO Jim Walton, a son of Walmart founder Sam Walton. It has $26 billion in assets and serves well over 100 communities in Arkansas, Kansas, Missouri and Oklahoma.

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