SBA Announces 2018 Top Minnesota Lenders - BankVista Named Lender of the Year
The U.S. Small Business Administration (SBA) will honor 12 lenders throughout Minnesota for their commitment to helping small businesses succeed during the sixth Annual Lenders Conference on September 6, 2018. SBA’s Great Lakes Regional Administrator, Robert Scott, will present the awards in honor of the lenders with the highest participation in SBA-guaranteed loan programs from July 1, 2017 to June 30, 2018.
“The lending community is such an important part of the small business ecosystem,” said Scott. “Thanks to your hard work, small businesses are able to obtain capital to expand markets, launch new products and invest in new equipment, leading to economic development and job creation here, and throughout the nation.”
The SBA’s ability to help small businesses access capital is tied to the country’s lending institutions and its partners’ ability and willingness to loan money. The SBA doesn’t lend the money directly to entrepreneurs to start or grow a business, but sets the guidelines for loans made by its partners (lenders, community development organizations and micro-lending institutions). The SBA guarantees that these loans will be repaid, which eliminates some of the risk to the lending partners.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov/mn.
Small businesses are the backbone of our community. That's why we work to offer them financing they need to thrive.
As a Preferred SBA Lender, at BankVista we work with the U.S. Small Business Administration offering these special loan programs. If your business can't qualify for traditional lending, talk to a BankVista commercial lender who can go over additional options with you.