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, 2019. Enterprise Bank was 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, “Over the years, our Enterprise Bank New Hampshire Team has been honored to receive numerous awards as a result of our assisting clients through the SBA 504 Program. To receive this award as SBA 504 Lender of the Year from Granite State Development, the New England leader in assisting small businesses through the SBA 504 Program, is especially gratifying.”
GSDC also recognized Bill Collins, Enterprise Bank Commercial Lender Officer, AVP as the top SBA 504 individual lender in New Hampshire. Bill said, “It’s an honor to receive this award. The SBA 504 Loan Program is a great program for our clients and we are fortunate to have a strong partnership with Granite State Development Corporation to assist us in this process.”
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.