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Banco Popular North America More Than Doubles Small Business Loan Volume for Q1 2006
Through Popular Small Business Capital Division and Branch Collaboration, the Bank Reached $80,432,000
SB Informer
Wednesday, April 26, 2006; 03:50 AM
CHICAGO - Popular
Small Business Capital (PSBC), a division of Banco Popular North
America (BPNA), one of the nation's premier community banks and a
leading Small Business Administration Lender, today announced small
business loan volume for Q1 2006 more than doubled, reaching
$80,432,000 compared with the same period last year, which yielded
$37,976,000. The quarter ended with significant volume in March
reflecting a total of $36,552,930. "We have experienced tremendous growth this past quarter, following
the realignment and launch of our new division dedicated to small
business," said Roberto R. Herencia, President, Banco Popular North
America. "Our continued focus to understand and respond to the needs of
the small business market enabled us to accomplish this record quarter." Popular Small Business Capital reached significant volume throughout
the 61 districts it serves. Marked growth came from the Southeastern
Region of the United States, which contributed 43% to BPNA's total loan
volume. Reviewing the quarter's activity, PSBC noted small businesses
across the board were utilizing financing to acquire more customers,
augment sales channels and increase distribution. In response to the volume increase, Christopher Kwiatkowski, Senior
Vice President, Manager, Popular Small Business Capital Division,
commented, "Small business owners recognize the importance of
addressing their long-term economic growth and turning increasingly to
reliable sources of financing to secure their future business." About Popular Small Business Capital Popular Small Business Capital (PSBC) utilizes a custom-tailored
approach for each and every small business client, offering SBA 7(a)
loans, SBA 504 loans, SBA Express loans, business acquisition
financing, refinance solutions, commercial real estate financing,
franchise and equipment financing, As a designated SBA Preferred
Lender, PSBC is active in 61 districts and 30 states nationwide. For
more information about PSBC, visit http://www.popularsmallbiz.com/
About Banco Popular North America Banco Popular North America, headquartered in Chicago, Illinois, is
one of the leading community banks in the U.S. with 138 branches in the
states of California, Florida, Illinois, New Jersey, New York and
Texas. Its core businesses include retail and commercial banking
services, as well, mortgage and consumer lending, and insurance. Banco
Popular was named one of the "100 Best Companies to Work For" in 2005
by Fortune magazine and ranks among the top 10 Small Business
Administration lenders in the country. Banco Popular North America is a
subsidiary of Popular, Inc. (NASDAQ: BPOP) . For more information about
Banco Popular North America, visit the company's Web site at http://www.bancopopular.com/ .
Website: http://www.popularsmallbiz.com/
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