Small Business Administration Maine District Office announces winners of annual Small Business Lender Awards
AUGUSTA – The Maine District Office of the U.S. Small Business Administration has announced the top SBA lenders for Fiscal Year 2023. The annual SBA Lender Awards will be presented on Friday, Jan. 26 in a ceremony at the Hilton Garden Inn in Freeport. As part of the ceremony, the 2023 cohort of the SBA’s THRIVE program in Maine will also be recognized for their accomplishments.
“As we’ve transitioned away from our pandemic-era loan programs and refocused on the traditional SBA lending programs, our Maine based lending institutions have stepped up to support the recovery of small businesses all across the state,” said Diane Sturgeon, district director for the SBA Maine District Office. “While we appreciate the efforts each of our lenders has made, we would like to use this opportunity to show special recognition to those who truly stand out.”
In fiscal year 2023, the SBA and its lending partners in Maine made a total of 511 loans totaling over $163 million through its main loan programs, the 7(a) Loan Guaranty Program, the 504 Loan Program, and SBA Microloan Program. This represents an increase of nearly one hundred loans made to Maine’s small businesses compared to fiscal year 2022.
The SBA will honor all of its partner lending institutions in Maine, with special recognition for the top lenders in several categories.
TD Bank approved 79 7(a) loans, totaling over $6.5 million, making them the overall Leading 7(a) Lender in Maine.
Bangor Savings Bank approved 11 504 3rd Party loans, totaling over $4.3 million, making them the overall Leading 504 3rd Party Lender in Maine.
Maine Community Bank approved 25 7(a) loans and 5 504 3rd Party loans, totaling over $15.3 million, making them the overall Dollar Volume Lender in Maine.
Evergreen Credit Union approved 3 504 3rd Party loans totaling over $2.8 million in Maine, making them the Leading SBA Credit Union lender.
Granite State Development Corporation was Maine’s Leading Certified Development Company in both numbers and total dollars, approving 54 504 loans for more than $35 million in fiscal year 2023.
Northern Maine Development Commission was Maine’s Leading SBA Microlender, with 52 loan approvals totaling over $1 million in fiscal year 2023.
A STAR Award Recipient will also be announced at the ceremony. This award is presented to a lender who has gone above and beyond to increase access to capital for small businesses and ensure that SBA products are fully available to their clients.
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.