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SpencerBANK Awarded Lender of the Quarter

Release Date: 
Thursday, September 10, 2015
Release Number: 
15-28
Contact: 
Norman Eng (617) 565-8510

BOSTON – SpencerBANK has been awarded the Small Business Lender of the Quarter for the third quarter of fiscal year 2015.

From April 1, 2015 through June 30, 2015, SpencerBANK had ten SBA loan approvals, for a total of 19 approvals for the fiscal year, making them the 14th most active lender in Massachusetts out of 129 lenders. The bank’s 19 loan approvals matched their entire lending activity for fiscal year 2014, previously their best SBA year ever.

“Congratulations to the team at SpencerBANK on being named SBA Lender of the Quarter. The bank's rank within the top 20 SBA lenders in Massachusetts together with ten SBA loan approvals this past quarter demonstrates a strong commitment to the small business community,” said Robert Nelson, SBA Massachusetts District Director.

“We are pleased to receive this award,” said SpencerBANK Vice President of Commercial Lending Stephen Quink. “Small businesses play a critical role in the success of our communities. We continue to build upon our SBA lending initiative by providing financing to small businesses in the markets we serve.”

The SBA offers a variety of loan guaranty programs including 7(a), SBA Express, Veteran Advantage Program, Small Loan Advantage (SLA) and CDC/504 Loans. SBA loans are guaranteed up to $5 million and are available for most business purposes, such as purchasing commercial real estate, equipment and inventory, or for providing short-term working capital.  For more information about SBA, visit www.sba.gov/ma.

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