Wells Fargo is America's #1 Small Business Lender According to Government Data Latest Small Business Administration (2009) and Community Reinvestment Act Data (2008) Demonstrate Wells Fargo's Lending Leadership

SAN FRANCISCO, Nov 05, 2009 (BUSINESS WIRE) -- Wells Fargo & Company (NYSE:WFC) today announced it is the #1 Small Business Administration (SBA) 7(a) lender in dollars and the #2 lender in units. Figures for the federal fiscal year, which ended September 30, 2009, show Wells Fargo, together with Wachovia, extended 2,347 SBA-guaranteed loans totaling $827 million in financing to small businesses. Wells Fargo is the #1 SBA lender in both dollars and units in six states: Alaska, Arizona, California, Colorado, Nevada and Texas.

"Over the past year small business customers have found access to capital challenging, which is why offering SBA loans is so critical to helping business owners reach their financial goals," said Dave Rader, head of Wells Fargo's SBA Lending Division. "We're helping refuel America's economic engine -- one small business loan at a time." Further bolstering its small business lending leadership, Wells Fargo, combined with Wachovia, remained the #1 small business lender across three major Community Reinvestment (CRA) categories for 2008 for: 1) loans under $100,000; 2) loans under $100,000 in low- and moderate-income (LMI) neighborhoods; and 3) total business lending under $1 million.

"We're very proud of this #1 ranking," said Marc Bernstein, head of Wells Fargo's Small Business Segment. "With the combined power of Wachovia and Wells Fargo, we are the #1 lender in 16 states and the second largest lender in six additional states. We're a national leader with more talented team members able to help small business owners coast to coast." About Wells Fargo Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.

Wells Fargo is America's #1 small business lender and a leading lender to women- and diverse-owned businesses. Through its online library of business resources, including topical videos and an award-winning webcast series, Wells Fargo provides business owners with timely advice and information to help them succeed financially. For more information, speak with a Wells Fargo banker, visit wellsfargo.com/biz or call the National Business Banking Center at 1-800-CALL-WELLS.

SOURCE: Wells Fargo & Company CONTACT: Wells Fargo Sarah Toffoli, 415-396-0866 [e-mail] Copyright Business Wire 2009 -0- KEYWORD: United States

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