New Hampshire SBA office recognizes leading lenders
In fiscal year 2012, the New Hampshire district office guaranteed a total of 630 loans totaling more than $130 million through its two main loan programs, the 7(a) Loan Guaranty Program and the 504 Loan Program.
"Lenders in New Hampshire continue to step up to the challenges of small business lending," said Greta Johansson, SBA's New Hampshire district director.
The 7(a) loan program is the SBA's most used program because of its flexibility in loan structure and variety of uses. The 504 loan program, which is administered by Certified Development Companies, offers financing for long-term fixed assets including real estate and equipment at below market rates for up to 20 years.
Northway Bank approved 91 loans making them the leading SBA lender in the state based on total number of loans. TD Bank approved more than $8.2 million in loans in New Hampshire, making them leading 7(a) lender in total dollars. Additionally, TD Bank approved nearly $51 million in loans throughout New England making them the leading SBA 7(a) lender in the region.
Granite State Development Corp. was the New Hampshire SBA's leading Certified Development Company in both numbers and total dollars, approving 108 504 loans for more than $58 million. Also, Granite State was the leading CDC region wide, approving 276 504 loans for $153 million throughout New England.
Other 2012 award winners:
-- NH SBA Leading 504 Participant Bank: Centrix Bank.
Centrix participated in 20 projects providing long term financing. Centrix Bank was the leading 504 participant region wide, participating in a total of 23 projects in New England.
--NH SBA Leading Veteran Loan Lender: Northway Bank.
Northway Bank provided four loans to veterans in business throughout the state.
--Outstanding Achievement Awards: St. Mary's Bank and Enterprise Bank & Trust Co.
Awarded for Enterprise Bank & Trust significant increase in SBA lending in 2012 and for St. Mary's increased participation with a focus on much needed smaller dollar amount loans.
--Emerging Lender: Kennebunk Savings Bank
SBA Lender who increased their lending by more than 233 percent, based on numbers, and increased 853 percent, based on dollars, in fiscal year 2012.
--Outstanding Partner: Bank of New Hampshire
Awarded for its long-term partnership with SBA, partnering with SBA to provide "Bank on SBA" sessions, customer educational opportunities and for consistently providing financing to small businesses through the use of SBA programs.
--Returning Lender: People's United Bank
This long-term partner of SBA significantly increased loan volume based on numbers and dollars, 72 percent and 88 percent respectively, in fiscal year 2012.
For more information, contact Amy Bassett at the New Hampshire District Office at email@example.com.