Enterprise Bank was recently honored by Granite State Development Corporation as their top Small Business Administration (SBA) 504 program lender for the fiscal year ending September 30, 2020. Enterprise Bank was again recognized for issuing more SBA 504 loans in New Hampshire through GSDC than any other lender in the state.
Peter Rayno, NH Community Banking and Lending Director, EVP said, “Granite State Development Corp. has been a tremendous partner to Enterprise Bank over the years, assisting our clients throughout New Hampshire to grow and expand through the use of the SBA 504 Program. We are grateful to once again be recognized as their SBA 504 Lender of the Year for 2020.”
The Small Business Administration was created by Congress in 1953 to support small businesses and to strengthen the economy by providing a range of services to small businesses including financing. In 1958, the Small Business Investment Act was passed by Congress, which established what is currently known as the SBA 504 loan program.
The SBA 504 loan helps small business owners obtain long-term financing for capital assets like the purchase of real estate and expensive equipment. The SBA 504 loan provides financing for businesses to invest in their own facilities, continue to expand, and create new jobs.
About Granite State Development Corporation
Granite State Development Corporation is a non-profit lender authorized to process and service SBA loans utilizing the 504 Lending program. GSDC works with bank lending partners to assist entrepreneurs in financing their facilities. GSDC is the most active certified development company (CDC) in New England, providing financing in Maine, Massachusetts, New Hampshire and Vermont, and is ranked one of the largest CDCs nationwide. For more information about GSDC and the SBA 504 Loan Program, click here.