SBA Colorado sets record with more than $622 million in guaranteed SBA loans for FY2013 which represented an 11.5% increase compared to fiscal 2012. Another record was also set for lending to minority-owned business which accounted for $117.7 million, followed by women-owned businesses at $95.6 million; veterans at $79 million; Native American at $5.3 million and Asian-owned business at $87 million. Out of the 1,388 loans approved by SBA in fiscal 2013, 1,117 were in the 7(a) working capital guaranty program which totaled $457.1 million while 271 were in the 540 Certified Development Company Loan Program, totaling $165.4 million.  Wells Fargo was the largest SBA lender in Colorado in fiscal 2013 with 222 loans totaling $84.2 million. SBA will in 2014 waive the guaranty fee for 7(a) loans under $150,000 to encourage smaller loans. This will save the borrower an average of $2,550 in fees.