Enterprise Bank named GSDC’s top SBA 504 Lender for 2021
Enterprise Bank has been named Granite State Development Corporation’s top Small Business Administration (SBA) 504 program lender for the fiscal year ending September 30, 2021. 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, “GSDC is the largest certified development company (CDC) in the Northeast and the leader in assisting small business in New England. This recognition is very meaningful for our Team and I thank every Enterprise Bank lender, portfolio manager, and commercial lending assistant who worked with GSDC for the benefit of our clients over the past year. The SBA 504 Loan Program is beneficial for our clients, and we are fortunate to have a strong partnership with Granite State Development Corporation to assist us in this process. It’s an honor to again receive this recognition.”
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 program 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 loan program and 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.