OakStar Bank leads local SBA lending

OakStar Bank again topped the list of U.S. Small Business Administration lenders in southwest Missouri.

During fiscal 2019, which ended Sept. 30, the Springfield-based bank issued 46 loans totaling $20.9 million in the SBA’s 28-county southwest Missouri district. The SBA’s Springfield branch office oversees the operations, according to a news release.

Below are the top five SBA lenders across the district, by the number of loans issued then total loan amount, for the fiscal year ended Sept. 30:
• OakStar Bank, 46 loans, $20.9 million;
• Guaranty Bank, 45 loans, $12.5 million;
• Simmons Bank, 24 loans, $7.4 million;
• The Bank of Missouri, 17 loans, $4 million; and
• U.S. Bank, 16 loans, $349,200.

In total, banks issued $111 million worth of loans during fiscal 2019 in southwest Missouri. The loan count was 262. Comparatively, during fiscal 2018, banks issued 303 loans totaling $107.2 million, according to the release.

Across the SBA’s nationwide network, fiscal 2019 lending reached $28 billion via roughly 58,000 loans. In Greene County, institutions issued 99 loans totaling $33.5 million.