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HOLTMEYER & MONSON CLIENT BANKS RECEIVE TOP PERFORMERS AWARDS FROM SBA
Congratulations to H&M clients Three Rivers Bank of Montana and Avidia Bank of Massachusetts for receiving top performance awards from the SBA.
The SBA Montana District Office designated Three Rivers Bank of Kalispell as its Emerging Lender of the Year for fiscal year 2016. The annual award goes to a bank that has significantly increased their SBA loan volume from one year to another. In 2016, Three Rivers Bank approved 13 SBA guaranteed loans. Lead Lender Relations Specialist Lorena Carlson of the SBA Montana District Office congratulated the bank for this accomplishment, thanking Three Rivers for its commitment to helping small businesses and supporting the SBA and its programs.
Avidia Bank in Westborough, Massachusetts was given the MA SBA Lender of the Quarter Award in recognition of their phenomenal SBA activity for the first quarter of fiscal year 2017 (10-1-2016 to 12-31-2016). “The lending activity of Avidia for the quarter is phenomenal and the bank is very deserving of this recognition,” said Bob Nelson, SBA Regional Administrator (A) and MA District Director.
Avidia has been relying on Holtmeyer & Monson’s SBA Lending Services for six years, and Three Rivers Bank has been an H&M client since 2010. Upon receipt of their award, the Montana bank’s President A. J. King commented, “We could not do the SBA loans we originate without Holtmeyer & Monson. It’s great to have them as our partner.”
Working with H&M, banks of any size and locale can quickly ramp up an SBA lending program that will benefit their community, as well as their institution. Through SBA loans, small businesses can secure financing on terms and conditions not otherwise available to them. And a very lucrative secondary market exists for the sale of SBA 7(a) loan guarantees, with lenders typically earning premiums of 12-14% of the purchased guarantee, at no net cost to the bank.
For more information about starting or expanding a successful SBA lending function, callus at 800.340.7304.