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SBA Kentucky Lenders Receive Awards

Release Date: 
Monday, November 25, 2013
Release Number: 
13-1125KY
Advisory Date: 
Monday, November 25, 2013
Contact: 
Michael Ashcraft

The SBA Kentucky District Office and its lending partners had another strong year in SBA loans in Fiscal Year 2013.  In the Commonwealth, there were 647 SBA 7(a), 504 and microloan loans approved, valued at almost $156 million in new small business investments.    

FY 2013 SBA Lender Award Winners in Kentucky

 

Award

# Loans

$ Loan

7(a) Loans:

Community Banks -

 

 

 

Community Trust Bank Inc.; Pikeville, KY 

Gold

77

$10,263,700

Traditional Bank, Inc.; Mt. Sterling, KY

Silver

18

$10,625,100

Stock Yards Bank & Trust Co.; Louisville, KY

Bronze

17

$ 7,230,000

National/Regional Banks -

 

 

 

U.S. Bank National Association

Gold

81

$17,005,700

The Huntington National Bank

Silver

45

$ 4,955,600

JPMorgan Chase Bank National Assn.

Bronze

30

     $ 5,123,800

504 Loans:

 

 

 

Capital Access Corp. – KY; Louisville, KY 

Gold

18

$10,628,000

Micro Loans:

 

 

 

Community Ventures Corporation (CVC)

 KY Microlender of the Year

92

$   434,810

Top Dollar Lenders:

Community Bank -

 

 

 

Traditional Bank, Inc.; Mt. Sterling, KY

 

18

$10,625,100

National/Regional Bank -

 

 

 

U.S. Bank National Association

 

81

$17,005,700

Certified Development Companies/504 Lender

 

 

 

Capital Access Corp. – KY; Louisville, KY 

 

18

$10,628,000

                                                                 

SBA All-Star Team:

In addition to recognizing the SBA lending awards to lenders in the state, the SBA Kentucky District Office also acknowledges the individual loan officers responsible for these achievements.  These Loan Officers were named to the SBA Kentucky All-Star Team :  Brandon Prather, U.S. Bank; Chris Radanovich, The Huntington National Bank; Becky McClennen, JPMorgan Chase Bank; Bob Watson, Community Trust Bank, Inc.; William G. Clark, III, Traditional Bank, Inc.; William Sorbo, Stock Yards Bank & Trust Co.; Susie Redmon, Capital Access Corporation of KY; Phyllis Alcorn, Community Ventures Corp.

The 7(a) Loan Program includes financial help for businesses with special requirements purposes and is the SBA’s most frequently used loan program for start-up and existing small businesses.

The SBA’s 504 loan program is a long-term financing tool, designed to encourage economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization, such as equipment or real estate.

The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The U.S. Small Business Administration provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.

For more information on SBA loan programs, go to www.sba.gov.

 

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