NORTHWEST BANK AWARDED THE SBA's 2016 TOP LENDER OF THE YEAR
on Tuesday, December 13, 2016
Northwest Bank is recognized as SBA Top Lender for 2016. The U.S. Small Business Administration’s (SBA) Iowa District Office has announced the winners of its top lender awards in Iowa for Fiscal Year 2016.
Northwest Bank was recognized as SBA’s Top 504 Third Party Lender for a total of $3.9 million in loans.
The SBA approved 484 guaranteed loans totaling $197.3 million in FY 2016. This is a nine percent increase in loan volume from FY 2015 when the SBA approved 444 loans for $134.9 million.
“Access to capital is vital to Iowa’s economy,” said Jayne Armstrong, director of the SBA’s Iowa District Office. “We appreciate all of our lender partners who make it possible for SBA to provide financial assistance to small businesses in Iowa. Our annual lender awards recognize those lenders who’ve helped us do so in some key demographic areas that have been traditionally underserved when it comes to access to capital.”
Greg Post, President and CEO of Northwest Bank commented, “We are proud of our relationship with the SBA. The SBA and its many programs allow us the opportunity to take care of our customers and their credit needs. It is Northwest Bank’s commitment to have vested interest in the financial growth of the families and businesses we serve. We are helping businesses meet their financial goals and stimulating our local economies by being a stable resource for local businesses.”