{"id":31425,"date":"2018-11-15T13:08:39","date_gmt":"2018-11-15T18:08:39","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=31425"},"modified":"2018-11-15T15:49:02","modified_gmt":"2018-11-15T20:49:02","slug":"three-area-banks-are-on-small-business-associations-list-of-top-performers-in-2018","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2018\/11\/three-area-banks-are-on-small-business-associations-list-of-top-performers-in-2018\/","title":{"rendered":"Three Area Banks Are On Small Business Association\u2019s List Of Top Performers In 2018"},"content":{"rendered":"<p>The<span class=\"Apple-converted-space\">\u00a0 <\/span>Small Business Association\u2019s Syracuse District announced that Adirondack Trust Co., Saratoga National Bank and TD Bank were among the top performers in the Capital Region.<\/p>\n<p>SBA Regional Director Bernard J. Paprocki released the fiscal year 2018 lending report, with 670 7(a) and 504 loan approvals valued at $177 million across the 34-county Syracuse district.<\/p>\n<p>\u201cSmall businesses in Upstate New York are accessing the affordable capital they need to start and expand with SBA-backed loans,\u201d he said.<\/p>\n<p>Paprocki said Adirondack Trust and Saratoga National Bank had the highest number of 7(a) approvals in their respective categories based on asset size.<\/p>\n<p>TD Bank was the top Capital Region large commercial lender, with 29 loans at a value of $7.5 million.<!--more--><\/p>\n<p>The report showed Adirondack Trust Co. was the most active large community lender in the Capital Region, approving 52 loans valued at $4.5 million.<\/p>\n<p>For the fifth year in a row, Saratoga National Bank was the top small community lender in the Capital region with seven loan approvals worth $944,500.<\/p>\n<p>\u201cStrong relationships with our lending partners and streamlined application processes will continue to help more Capital Region entrepreneurs use SBA financing to create jobs and invest in their businesses and communities,\u201d said Paprocki.<\/p>\n<p>Although SBA does not make direct loans to small business, the agency\u2019s use of its guaranty authority enables commercial lenders to make loans to small businesses they would otherwise not have made. The 7(a) loan program is the most widely used access to capital SBA program, with flexible use of proceeds and loan maximum of $5 million.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The 504 program offers long-term, fixed-rate financing for major assets such as land, building and equipment with loan maximum of $5 million. The SBA Capital region covers the following counties: Albany, Clinton, Columbia, Essex, Greene, Rensselaer, Saratoga, Schenectady, Schoharie, Warren, and Washington.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0 Small Business Association\u2019s Syracuse District announced that Adirondack Trust Co., Saratoga National Bank and TD Bank were among the top performers in the Capital Region. SBA Regional Director Bernard J. Paprocki released the fiscal year 2018 lending report, with 670 7(a) and 504 loan approvals valued at $177 million across the 34-county Syracuse district. [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Three Area Banks Are On Small Business Association\u2019s List Of Top Performers In 2018 - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2018\/11\/three-area-banks-are-on-small-business-associations-list-of-top-performers-in-2018\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Three Area Banks Are On Small Business Association\u2019s List Of Top Performers In 2018 - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"The\u00a0 Small Business Association\u2019s Syracuse District announced that Adirondack Trust Co., Saratoga National Bank and TD Bank were among the top performers in the Capital Region. SBA Regional Director Bernard J. Paprocki released the fiscal year 2018 lending report, with 670 7(a) and 504 loan approvals valued at $177 million across the 34-county Syracuse district. 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