A record amount of money was loaned to Maine businesses in 2017 through the U.S. Small Business Administration.
More than 50 Maine lenders approved more than $165 million worth of business loans through all SBA programs, a 26 percent increase over 2016, according to a statement from the federal agency.
“The growth that we’ve seen in SBA lending here in Maine is truly incredible,” said Amy Bassett, the agency’s district director for Maine. “We certainly wouldn’t be able to provide the same kind of assistance to Maine’s small businesses if it wasn’t for the outstanding efforts of our lenders.”
The recipients of SBA’s 2017 Lender Awards will be honored at a ceremony set for Dec. 7 at the Governor Hill Mansion in Augusta. The ceremony will be accompanied by panel discussions about federal programs to help small businesses grow export markets.
The lenders that will be honored are: Bangor Savings Bank, Leading 7(a) Lender; Norway Savings Bank, Leading 504 Third Party Dollar Lender; Seaboard Federal Credit Union, Leading Credit Union; Granite State Economic Development Corp, Leading CDC; Community Concepts Finance Corp., Leading Microlender; TD Bank, District Director Award; and Katahdin Trust Co., Outstanding Partner Award.
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