As major supporters of the Alaska SBDC, we are proud to join the Small Business Administration (SBA) in congratulating and thanking Alaska’s Top Lenders for their commitment and service to Alaskan small businesses.
The U.S. Small Business Administration (SBA) Alaska District Office announces the top lenders of the SBA Loan Program in Alaska during Fiscal Year (FY) 2019 in four categories: Lender of the Year, Community Lender of the Year, 504 Lender of the Year, and Community Development Company of the Year.
The SBA Loan Program provides lenders with a loan guarantee which lowers the risk of lending to small businesses and enables lenders to provide financing to small businesses and entrepreneurs in situations they are unable to do conventionally.
“We appreciate the hard work and dedication of our lenders. They play a vital role in financing the startup, growth, and recovery of Alaska’s small businesses. Thanks to local lenders, Alaska small businesses accessed more than $65 million in loans they wouldn’t have been able to otherwise,” SBA Alaska District Director Steve Brown said. “Congratulations to all the top SBA Alaska lenders for their outstanding contribution to the economy of our great state.”
Lender of the Year: Wells Fargo Bank N.A.
This award recognizes the SBA lender that achieves the overall highest number of SBA loan approvals to businesses located in Alaska during FY 2019, which ended Sept. 30, 2019.
Wells Fargo Bank approved 23 loans totaling nearly $6.6 million in Alaska during the FY 2019.
Community Lender of the Year: Northrim Bank
This award recognizes the SBA lender that offers services and engages in other activities that promote and support community development in Alaska; and, that achieve the highest number of SBA loan approvals to businesses located in Alaska during the fiscal year.
Northrim Bank approved 20 loans totaling nearly $5.9 million during FY 2019.
504 Lender of the Year: First National Bank Alaska
This award is given to the participating third-party lender with the highest number of 504 approved loans during the fiscal year. The SBA 504 Loan Program provides long-term, fixed-rate, subordinate mortgage financing for acquiring or renovating capital assets including land, buildings and equipment.
First National Bank Alaska approved five SBA 504 loans totaling nearly $2.3 million during FY 2019.
Community Development Company (CDC) of the Year: Evergreen Business Capital
This award recognizes the CDC that achieves the overall highest number of SBA loan approvals to businesses located in Alaska during the fiscal year.
Evergreen Business Capital and its affiliate Evergreen Business Capital Community Finance approved 10 loans totaling $3.5 million in Alaska during FY 2019.