New Hampshire SBA recognizes leading lenders
The New Hampshire district office of the U.S. Small Business Administration recently announced its 2017 lender awards.
Among those honored at a Nov. 3 public recognition event were:
• TD Bank, which approved 81 loans making it the leading NH SBA 7(a) lender based on total number of loans. The bank also was the second leading 7(a) lender in New England, with 403 loans for $32.4 million.
• The Provident Bank approved over $11 million in loans in New Hampshire, making it the leading 7(a) lender in total dollars. The bank also contributed an additional $3.8 million in support of 504 projects.
• Granite State Development Corp., New Hampshire SBA’s leading certified development company in both numbers and dollars, approving 95 504 loans for over $34.4 million. Also, Granite State was the leading CDC region-wide, approving 254 504 loans for nearly $121.2 million throughout New England.
• Enterprise Bank & Trust, recognized as the New Hampshire SBA’s Leading 504 Participant Lender, which honors the lender that participated in the greatest number of 504 projects. Enterprise participated in 13 projects providing nearly $8.9 million of long term financing, their part of approximately $18 million in project financing.
• Bank of New Hampshire, recognized for the 44 7(a) loans it approved, the third-highest in New Hampshire, a number that included 14 percent woman-owned businesses and 11.4% veteran-owned businesses, well above the statewide average. The bank also participated in 10 504 projects — the bank’s third-highest 7(a) year and highest all-time 504 participation year.
• Merrimack County Savings Bank, for its highest 7(a) lending, with 28 loans for over $2.1 million; half of those loans went to businesses under two years old.
This put the bank in sixth position out of 59 in 7(a) lending in
• People’s United Bank, which contributed 19 7(a) loans in New Hampshire, 89 throughout its footprint. In New Hampshire, lending included a $5 million Export Working Capital Line, a loan size rarely seen in New Hampshire under a program used equally rarely in the state. EWCP lines enable small exporters to deliver on export contracts despite the costs incurred long before payment can be received for exported goods and services.
• NH Bankers Association, named Outstanding Partner, an award that recognizes the long-term and valuable partnership of the association with the SBA. The association has on several occasions partnered with the NH SBA on annual events, such as Small Business Week, Lenders Meetings and Credit Enhancement days and has provided educational platforms for New Hampshire lenders that include segments on SBA lending.