Wednesday, August 29, 2018
Contact: Sarah Swenty, email@example.com
MINNEAPOLIS – 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 at the Marriott Northwest in Brooklyn Park, Minnesota, 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.
The complete list of the 2018 SBA Minnesota Lenders Awards is:
SBA Minnesota Credit Union: Central Minnesota Credit Union
SBA Minnesota Lender (Assets <100MM): Financial Security Bank
SBA Minnesota Lender (Assets 100MM > 500MM): BankVista
SBA Minnesota Lender (Assets 500MM > 1B): Sunrise Banks, National Association
SBA Minnesota Lender (Assets > 1B): KleinBank
SBA Minnesota National Lender: Wells Fargo Bank, National Association
SBA Minnesota Export Lender: Minnwest Bank
SBA Minnesota CDC (Job Creation): Central Minnesota Development Company
SBA Minnesota CDC (Loan Volume): Minnesota Business Finance Corporation
SBA Minnesota Community Advantage Lender: Meda
SBA Minnesota Emerging Market Lender: African Development Center
SBA Minnesota Rural Lender, Community Impact: Southwest Initiative Foundation
Data obtained for the sixth Annual Minnesota SBA Lender Awards was taken from the Small Business Administration’s Minnesota District Office loan volume dashboard. Loan information was collected from July 1, 2017, to June 30, 2018 with awards based on the number of SBA-guaranteed approved loans.
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.
About the Metropolitan Economic Development Agency (Meda)
Meda provides business consulting, access to capital, and market opportunities for minority entrepreneurs. Meda also operates a business development center under cooperative agreement with the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce. The Minneapolis MBDA Business Center connects Minnesota Minority Business Enterprises (MBEs) with business opportunities and has been recognized as the top performing center in the country the last two year.