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SunTrust Named a Top Ten National Small Business Administration Lender

Company Advances Seven Spots in 7(a) Lending in Two Years

Oct 21, 2015

ATLANTA, Oct. 21, 2015 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) has again been named a top ten 7(a) lender by dollar volume in fiscal year 2015 by the U.S. Small Business Administration (SBA). In just two years, the bank has advanced seven spots to number eight in 2015 with more than $364.6 million in total approved dollars, a 44 percent year-over-year increase in dollar volume and a 41 percent increase in loans provided to small businesses. Additionally, the bank was the top SBA lender in Florida and Virginia.

"We're thrilled to see the continued momentum in our SBA rankings as it validates our efforts on behalf of small business owners," said Jeff Nager, senior vice president and SBA Manager for SunTrust. "Providing the necessary financing to help these companies achieve their goals is just one of the many ways SunTrust works with our clients to help them achieve smart growth."

In years past, SBA loans were most often secured to provide for the purchase/construction of commercial real estate, working capital, attain new equipment, or to recapitalize a company balance sheet. Similar to last year, however, SunTrust continues to see an increased demand for loans to support change of ownership, business acquisitions and succession planning (partner buyouts).

"SunTrust realizes how important it is to provide small businesses with lending experts who understand their company and personal goals in order to meet their unique financial needs," added Nager. "We continue to aggressively expand our SBA lending program; that's why SunTrust works as one team, with dedicated SBA Specialists who partner with local Relationship Managers based in communities across our footprint, to tailor solutions that serve the unique needs of our clients."

For more information about SunTrust's SBA lending program, please visit www.suntrust.com/SmallBusiness/LoansandFinancing/SBALoans. For additional information on SBA programs, visit www.sba.gov.

About SunTrust Banks, Inc.

SunTrust Banks, Inc., one of the nation's largest financial services organizations, is dedicated to Lighting the Way to Financial Well-Being for its clients and communities. Headquartered in Atlanta, the company serves a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2015, SunTrust had total assets of $187 billion and total deposits of $146 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services.  Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust's Internet address is suntrust.com.

 

SOURCE SunTrust Banks, Inc.

For further information: Tom Crosson, 470-218-9178


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