COVID-19 relief options and additional resources
LEARN MORE Close

News Release: Bay State SBA Lenders Honored by Trending Categories

Annual Meeting highlights 2016 Emerging Leaders Graduates and provides updates on current initiatives available to the public
Release Date: 
Friday, November 18, 2016
Release Number: 
16-30
Contact: 
Norman Eng (617) 565-8510

BOSTON – Massachusetts District Director Robert Nelson today announced this year’s SBA Massachusetts lender awards to recognize top producers leading small business lending in trending categories, including: lender of the year to women, lender of the year to veterans, lender of the year to construction, and #1 lender for job creation/retention.

2016 Lending Highlights include:

  • Bristol County Savings Bank approved over $700,000 to veteran-owned business, the largest percentage of their loans approved went to veterans. 
  • Massachusetts construction companies received the most loans/largest share of all SBA financing in FY’16 to account for 17.4% of all SBA loans made.  Rockland Trust Company approved the largest percentage of their loans to the construction industry
  • Restaurants accounted for 353,400 jobs in the state or 10% of employment. Santander Bank approved the largest percentage of their loans to the restaurant industry
  • Cambridge Savings Bank made the largest percentage of their loans to new businesses.  Massachusetts lenders made 617 loans to new businesses in FY’16 for an increase of 19%, compared to 521 loans in FY’15. A total of 97 different lenders made a loan to a new business in 2016. 
  • Eastern Bank approved 798 7(a) SBA loans in Massachusetts, creating 955 jobs and retaining 1,353 jobs – the largest amount of jobs created/retained by any lender in the state.

 

2016 SBA Massachusetts Lender Awards:

 

Western Massachusetts 7(a) Lender of the Year in Dollars and Volume

Berkshire Bank

 

Western Massachusetts 3rd Party Lender by Dollars and Volume

Westfield Bank

 

Western Massachusetts 504 Lender by Dollars and Volume

New England Certified Development Corporation

 

Massachusetts CDC Lender of the Year by Volume

Bay Colony Development Corporation

 

Massachusetts CDC Lender of the Year by Dollars:

Granite State Economic Development Corporation

 

Massachusetts Credit Union of the Year:

St. Mary’s Credit Union

 

Massachusetts Lender of the Year to Women

Cape Cod Five Cents Savings Bank

 

Massachusetts Minority Lender of the Year

Wells Fargo

 

Massachusetts Lender of the Year to Veterans

Bristol County Savings Bank

Accepting Award: Joan Medeiros

 

Massachusetts Lender of the Year to Construction

Rockland Trust Company

 

Massachusetts Lender of the Year to Restaurants

Santander Bank

 

Massachusetts Lender of the Year to New Businesses

Cambridge Savings Bank

­

Massachusetts Lender of the Year to Small Business Manufacturers

Wells Fargo

 

Massachusetts SBA One Lender of the Year:

St. Mary’s Credit Union

 

Massachusetts #1 Microlender by Dollars and Volume

Accion East USA

 

Number one 7(a) Lender in Volume and Total Dollars and Number One 504 3rd Party Lender

Eastern Bank

 

Massachusetts #1 Lender by Job Creation/Retention

Eastern Bank

 

 

 

 

2016 Emerging Leaders Program Graduates:

Archipelargo Strategies Group - is one of the region’s leading minority-owned marketing and communications consulting firms which provides marketing, public relations and community engagement services.

 

Circle Furniture - provides high quality living room, dining room, office, bedroom and outlet furniture in the Boston and Massachusetts area.

Eco Systems Pest Control - provides the most responsible, intelligent and courteous pest management services in virtually any environment, residential or commercial and operates with the philosophy of “Providing Green Solutions.”

Edge Media Network – is a group of journalists dedicated to the presentation of local and national news and information targeted to the LGBT community in a fair, entertaining, non-conglomerate format.

IMEX Cargo, LLC - is designed to promote market and effectively sell air cargo transportation to all outbound destinations handled by the designated carrier providing increased sales.

Kidsports – is a unique children’s facility in Stoughton, MA offering an indoor play center and state licensed child care center all under one roof.

Lawrence Training School - is an occupational training center delivering programs to launch careers in the environmental remediation field and the cosmetology industry.

Magnetude Consulting – is a B2B marketing agency that partners with clients to set an intelligent marketing strategy to launch, expand, morph or grow the reach of your products or services.

NRich, Inc (DBA Wicked Cool for Kids) – is an educational company specialized in customized enrichment programs in science, art and technology for kids through 6th grade.

Parlee Cycles, Inc. – designs and manufactures high-end carbon fiber bicycles.

Sugarbabies Inc. – provides entertainment/event consulting and has a three piece or eight piece band, a DJ, or emceeing for your event.

US Eco Products Corporation - sells eco-friendly products that can clean grease and oil, help with maintaining your landscape and Eco Friendly Ice Melt and a variety of other eco-friendly products that may suit your needs.

Vernance - consists of IT security experts who have a broad base of technology and project management experience.

Vision's Sown An Ancient Baking Co. - is a specialty baking enterprise that produces nutrient rich bakery products using a wide variety of plant based ingredients that are re-imagined with innovative flavors.

 

 

 

About the U.S. Small Business Administration

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012, has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.  The SBA helps Americans start, build and grow businesses.  Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam.  www.sba.gov

For more information about SBA Massachusetts lending figures in fiscal year 2016, the following resources are available:

 

 

For more information about the SBA Emerging Leaders Program, please visit:
https://www.sba.gov/about-sba/sba-initiatives/sba-emerging-leaders-initiative

 

###