SMALL AND MINORITY BUSINESSES
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Small Borrowers Wanted: Over the past 12 months, Wells Fargo Bank has lent about $1 billion to California small businesses, and a tenth of that has gone to Orange County companies.
The San Francisco-based bank--one of the state’s biggest lenders to small businesses--said it plans to lend another $1 billion by the end of the year, with $70 million of it earmarked for Orange County.
“We are actively seeking small businesses in Orange County, which is an excellent market for entrepreneurs,” Wells Fargo spokesman Dan Conway said.
Conway said that 75% of its small business loans are for less than $50,000. “We are just as willing to make a $5,000 loan as we are a $500,000 loan,” he said.
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