Rockland Trust Named Top SBA Lender in Massachusetts for 504 and Veterans Loans
Rockland, Mass. - December 3, 2013 - Rockland Trust was named by the United States Small Business Administration (SBA) as the 2013 Third Party Lender of the Year in terms of dollars lent to Massachusetts businesses through the SBA 504 loan program. In addition, the bank was named by the SBA as the 2013 Lender of the Year to veteran-owned businesses.
The rankings are based on loans made during the SBA fiscal year 2013, which runs from October 1, 2012 to September 30, 2013. During that period, Rockland Trust lent nearly $27 million through all SBA programs, financing a total of 79 small businesses throughout the state.
"Rockland Trust is committed to helping businesses start up, grow, and expand," said Chris Oddleifson, President and Chief Executive Officer of Rockland Trust. "SBA loans are vitally important for businesses that don't quite fit within conventional financing parameters, and we're proud to be an SBA leader - and especially proud to assist veteran-owned businesses."
Rockland Trust was the Bay State's top 504 Loan Program third party lender for the fifth consecutive year, in terms of dollars lent ($15.652 million). The 504 Loan Program provides small businesses with long-term, fixed-asset financing to stimulate economic development, business growth, and job creation. In recognition of Rockland Trust's commitment to the 504 Loan Program, the SBA previously named the bank as the national Third Party Lender of the Year in 2010.
In addition, Rockland Trust approved the highest percentage of loans to veteran owned businesses and was also the third most active SBA 7(a) Loan Program lender, providing $10.592 million in financing. Rockland Trust is a Preferred Lender for the SBA, enabling the bank to underwrite loans on behalf of the SBA and provide a speedier approval process for small businesses to obtain SBA loans.
About Rockland Trust
A full-service commercial bank headquartered in Massachusetts with $6.2 billion in assets, Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services. Named to the Boston Globe's "Top Places to Work" for five consecutive years and one of America's "Best Banks" by Forbes for three consecutive years, Rockland Trust's network consists of nearly 80 retail branches, 11 commercial lending offices, five investment management, and three residential lending centers in Massachusetts and Rhode Island. To find out why Rockland Trust is the bank "Where Each Relationship Matters®", please visit www.RocklandTrust.com. Member FDIC. Equal Housing Lender.