from Triangle Business Journal -
by Lee Weisbecker Triangle Business Journal
Winston-Salem-based BB&T was the top federal Small Business Administration lender in the SBA’s North Carolina district in the six-month period between October 2008 and April 2009, one of the most challenging on record in the banking industry.
BB&T (NYSE: BBT) made 80 SBA-guaranteed loans under the agency’s 7(a) loan program, committing $16 million during the period, according to an SBA summary released in June. Proceeds from 7(a) loans go for a wide range of uses, from buying a business to short-term working capital. The bank made four SBA 504 loans, the proceeds from which can be used to buy real estate and other long-term assets.
Other top 20 lenders in the state during the period were three Raleigh-based banks: Capital Bank (Nasdaq: CBKN), which made nine loans of both types for $1.5 million; RBC Bank, the arm of the Royal Bank of Canada (NYSE: RB), which made seven 7(a) loans for a total of $1.7 million; and First Citizens Bank (Nasdaq: FCNCA) made 13 of both types for $5.3 million.
NOTE: All four banks have branches in Clayton, NC.
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