SBA Names Top Capital Region Lenders for Fiscal Year 2012
ALBANY, N.Y. - U.S. Small Business Administration Syracuse District Director Bernard J. Paprocki today announced the most active lenders in the Capital region for the recently ended federal fiscal year 2012. KeyBank, NBT Bank and The Adirondack Trust Company had the highest number of 7(a) approvals in their respective categories.
KeyBank topped all large commercial banks in the Capital region, assisting small businesses with 27 loans at a value of $5.5 million. KeyBank is also the second most active large commercial lender in the entire 34-county Syracuse District with 51 loans valued at $7.3 million.
In the large community lender category, NBT Bank was the most active large community lender in the Capital region and the Syracuse District. NBT Bank made 25 loans worth $4.3 million to startup and existing businesses in the Albany area. District-wide, NBT Bank approved 70 loans valued at $10 million.
For the twelfth straight year, The Adirondack Trust Company outperformed all other small community lenders. The Adirondack Trust Company approved 22 loans worth $1.1 million in the Capital region.
“Strong relationships with our lending partners are essential in providing small business owners with increased access to the capital. With continued partnership, Capital region entrepreneurs can continue to invest in their businesses and communities,” praised SBA Syracuse District Director Bernard J. Paprocki.
In fiscal year 2012, which ended September 30th, SBA lenders in the 34-county Syracuse District provided 682 7(a) and 504 loan approvals valued at $168 million in needed capital. Although SBA does not make direct loans to small business, the agency’s use of its guaranty authority enables commercial lenders to make loans to small businesses they would otherwise not have made. The SBA Capital region covers the following counties: Albany, Clinton, Columbia, Essex, Greene, Rensselaer, Saratoga, Schenectady, Schoharie, Warren, and Washington.
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