Concord, NH – The New Hampshire district office of the U.S. Small Business Administration announced today its 2013 lender awards.
“In 2013 the SBA Lenders in New Hampshire continued to respond to the challenges of small business lending,” said Greta Johansson, SBA’s NH District Director. “Despite a very competitive lending environment, our lending partners continued to work with us and use the full range of SBA products to meet lending needs ranging from $5,000 to several million, resulting in an increase in support to veteran owned businesses and exporters and a good distribution of loans throughout all 10 New Hampshire counties.”
In fiscal year 2013, the New Hampshire district office guaranteed a total of 481 loans totaling over $99 million through its two main loan programs, the 7(a) Loan Guaranty Program and the 504 Loan Program. While the number of 7(a) loans declined from the past year, the dollars loaned under the program actually increased slightly. 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.
SBA will be honoring leading lenders in both the 7(a) and 504 loan programs:
Northway Bank approved 62 loans making them the leading NH SBA 7(a) lender based on total number of loans.
TD Bank approved over $6.3 million in loans in New Hampshire, making them leading 7(a) lender in total dollars. Additionally, TD Bank approved over $34 million in loans throughout New England making them the leading SBA 7(a) lender in the region.
Granite State Development Corporation was NH SBA’s leading Certified Development Company (CDC) in both numbers and total dollars, approving 68 SBA 504 loans for over $27 million. Also, Granite State was the leading CDC region wide, approving 223 SBA 504 loans for nearly $110 million throughout New England.
Special Recognition also goes to:
NH SBA Leading 504 Participant Bank – Centrix Bank
Awarded to the lender that participated in the greatest number of 504 projects, Centrix participated in 12 projects providing $3,600,000 of long term financing.
NH SBA Leading Veteran Loan Lender – Northway Bank
In April of this year the SBA started the Veterans Pledge Initiative and Northway Bank was the first NH bank to take up the challenge. In 2013 they provided 8 loans to Veteran Owned Businesses, doubling their total from 2012.
Emerging Lenders – Claremont Savings Bank and Northeast Credit Union
Claremont Savings Bank increased their lending from five loans in 2012 to thirteen in 2013. This contributed to a 50% increase in the number of 7a loans to businesses in Sullivan County.
Northeast Credit Union increased their lending significantly in 2013 after recently joining the program.
Outstanding Achievement Awards – St. Mary’s Bank and The Provident Bank
St. Mary’s Bank realized a 32% increase in the number of loans approved in the state. They led all Credit Unions in the New England states for the number of loans approved. Their continued emphasis on smaller dollar amount loans supports a vital segment of the small business market.
The Provident Bank increased their presence and commitment to small business lending in New Hampshire resulting in a 65% increase in the SBA loans approved.
Outstanding Partner – Connecticut River Bank
This award recognizes the long-term and valuable partnership of the Connecticut River Bank with SBA. Over the past ten years they have provided businesses over 200 loans and consistently being among the leaders in providing SBA loans.
For more information regarding SBA’s guaranty lending programs, please contact Amy Bassett at the New Hampshire District Office at email@example.com.