SBA Massachusetts District Office Fiscal Year 2024 Lender Awards & Annual Meeting RECAP

District Director Robert Nelson kicked off the event in Newton inside the UMass Amherst Mt. Ida's Campus Center auditorium. Thanks to MSBDC Greater Boston Region Office for graciously allowing us access to the space!

Please visit Office of Advocacy – The independent voice for small businesses and entities to learn about all of the interesting research work they publish!

Next, Emerging Leaders THRIVE class representatives gave a heartfelt speech on their experience with the program on behalf of the Boston and Worcester cohorts.

Here are the SBA Massachusetts District Office Fiscal Year 2024 Lender Awards!

FY24 SBA Lender to Construction - Santander (not present)

Santander Bank approved 16 loans or 67% of its total 7(a) loan production to businesses in Construction Industry.

FY24 SBA Lender to New Businesses – The Huntington Bank ?(not present)

SBA considers new businesses, enterprises that have been operational for 2 years or less. The Huntington National Bank approved 88% of their loan approvals to New Businesses.

FY24 SBA Credit Union of the Year – St. Mary's Credit Union (not present)

St. Mary's is one of the top 10 most active SBA 7(a) Lenders in the state with 46 7(a) loan approvals in excess of $3.5 million.

SBA Preferred Lender Program designation acknowledgement and certificate presented to?Cape Cod 5

An SBA Preferred Lender can help borrowers get funded?faster than a regular SBA lender. An institution with "Preferred Lender" status has the authority to make final credit decisions on SBA-guaranteed loans. Non-preferred lenders must submit the loans directly to the SBA for approval first, which makes the process longer.

FY24 Western MA SBA 7(a) Lender by Loan Volume & Approvals?– TD Bank Commercial Banking

TD Bank approved 51 7(a) loans totaling over $8.5 million in Western Massachusetts placing them at the top for Western Mass lenders. They ranked second in the state in overall activity.

FY24 Western MA 504 CDC by Loan Volume and Approvals – Granite State Development Corp.

Granite State Development Corp. approved 21 loans totaling over $11.3 million making them the most active 504 Lender in Western Mass by both $s and loan approvals.

FY24 SBA Lender to Manufacturers – Brookline Bank

Brookline Bank had the highest percentage of 7(a) loan approvals to Manufacturers in fiscal year 2024.

FY24 SBA Lender of Year to Veterans – Webster Bank ?

Ranked in the top 10 most active banks in Massachusetts with 48 7(a) loan approvals for over $19 Million in 2024; The bank had the highest percentage of loan approvals to Veteran-owned businesses.

FY24 SBA Lender of the Year to Minorities – M&T Bank

With 87 loan approvals in fiscal year 2024, M&T Bank ranked 4th most active lender in Massachusetts - with 41 percent of SBA loan approvals made to minority owned businesses.

FY24 SBA Lender to Accommodations – Cambridge Savings Bank

Cambridge Savings Bank approved 37 7(a) loan in Mass for over $8 Million ranking them 15th most active lender in the state - with close to 41 percent of all 7(a) loans approvals Accommodation and Food Service establishments.

FY24 Certified Development Company – Bay Colony Corp.

With 77 SBA 504 loan approvals totaling over $57 million, Bay Colony is this year’s # 1 Certified Development Company.

FY24 SBA Micro Lender of the Year – Ascendus

Ascendus approved 25 Microloans totaling over $552,000 during fiscal year 2024, with more than 20% of all microloans approved in the state.

FY24 SBA Community Advantage Lender of the Year – Common Capital

Common Capital is one of 5 approved Community Advantage SBLC lenders in the state. They approved 9 7(a) Community Advantage loans for over $1 million, almost doubling last year’s loan approvals and ranking them 4th most active 7(a) lender in Western Mass for FY 2024.?

FY24 SBA 504 Third Party Lender by Loan Volume and Approvals - Eastern Bank ?

Eastern Bank approved 23, 504 Third-Party Loans in excess of $17 million ranking them at the top of the list by loan amount and approvals.

FY24 SBA 7(a) Lender by Loan Approvals + Minorities - Eastern Bank

During FY 2024 Eastern Bank approved 305 SBA 7(a) loans or 15 percent of all SBA 7(a) loans made in the state, totaling close to $40 million; 111 of the 305 loan approvals were also to minority owned businesses placing them at the top of list as the lender with the most 7(a) loan approvals to minority owned businesses.

FY24 SBA Lender of the Year for Job Creation and Retention – Eastern Bank

Eastern Bank helped create or retain over 2,100 jobs across the Commonwealth.?

Carlos Hernandez ; Shelly Gillis, M.Ed. ; Kristi Haxhiaj ; Callie Flanagan ; Tyrone Williams ; Jason Rose ; Lisa Welch ; Norman Eng ; Robert Nelson ; Ili Spahiu