Money Store Investment Corp. of Sacramento, Calif., once again tops the list of lenders using the U.S. Small Business Administration's 7(a) loan guarantee program.
According to data obtained under the Freedom of Information Act, the subsidiary of Union, N.J.-based Money Store Inc. had 629 7(a) loans worth $243.9 million approved for guarantee by the agency in the six months ended March 31, the first half of the SBA's 1995 fiscal year.
But for Larry Wodarski, president of Money Store Investment Corp., limitations on loan size and on the kind of loans the agency will approve have made this year tougher than any since the company started its reign as top SBA lender in 1982.
"The number of loans we have approved is up about 30%, but our dollar volume is virtually flat," he said. "So we're working harder, but we have seen a dropoff in the larger loans."
The tables display the 7(a) data supplied by the Small Business Administration for the six months ended March 31. The rankings of individual banks do not include numbers for LowDoc loans.