Small Business Administration to celebrate 2016 Rhode Island Lender Awards

PROVIDENCE, RI – Today, the Small Business Administration honored those Rhode Island lending institutions that have excelled as SBA lenders in 2016. With 457 SBA loans being made for over $130 million, 2016 proved to be a banner year for Rhode Island lenders. Loan program amounts included, 7(a) loans totaling over $64 million, 504 project participations registering over $34 million, 504 debenture amounts reaching over $27 million, and Microloans tallying almost $200,000.

“We are pleased to see the dedication of our lenders to ensuring small business continues to thrive in Rhode Island,” said Mark S. Hayward, SBA Rhode Island District Director. “This years’ 24% increase over last years’ loan total proved to be the highest volume of SBA loans in Rhode Island history and that is a testament to the ever growing small business community we have here,” Hayward added.

The Rhode Island SBA Lender Awards were held at Pawtucket Country Club and honored five winners in seven categories including; 7(a) Lender of the Year, Coastway Community Bank; 504 3rd Party Lender of the Year, BankNewport; 7(a) Dollar Volume Lender of the Year, Coastway Community Bank; 7(a) and 504 Combined Lender of the Year, Coastway Community Bank; Certified Development Company of the Year, Ocean State Business Development Authority; Micro Lender of the year, South Eastern Economic Development Corporation; and Largest Loan Volume Increase, Citizens Bank.

 

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Avatar About the Author: The Rhode Island Small Business Journal is a printed monthly magazine and an online resource for the aspiring and start-up entrepreneur and small business owner.

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