Enterprise Bank Named GSDC's 504 Bank of the Year
Enterprise Bank was recently honored by Granite State Development Corporation as their top Small Business Administration (SBA) 504 Bank of the Year for the fiscal year ending September 30, 2022. The award recognizes Enterprise for the number and dollar volume of SBA 504 loans granted.
Peter Rayno, NH Community Banking and Lending Director, EVP said, “We are grateful to be recognized as GSDC’s SBA 504 Bank of the Year for 2022. This recognition is an honor and very meaningful for our Team. GSDC is the largest certified development company (CDC) in the Northeast, the leader in assisting small business in New England, and has been a tremendous partner to Enterprise Bank over the years. The SBA 504 Program has helped our clients throughout New Hampshire to grow and expand, 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.