Northway Bank tops SBA lender list again in 2012

BERLIN — During the Small Business Administration's (SBA) fiscal year 2012, which ended in September, Northway Bank originated 91 loans worth more than $4 million under the agency's core 7(a) program, once again making them the top SBA lender in the state of New Hampshire.

In addition, Northway loaned more than $20 million through the SBA's "bricks-and-mortar" 504 program of which $11 million was permanently funded by Northway, the highest dollar volume originated among all lenders in the state.

"We're a local business ourselves, so we're eager to help our fellow local businesses make investments that can help our communities prosper," says Bill Woodward, President and CEO of Northway Bank. "As an independent, locally owned community bank, Northway feels a special obligation to help small business."

Victor Levesque, Northway's director of commercial banking, added, "We've always been committed to helping small businesses. They are the economic life blood of our economy and Northway will continue to do our part to support them."

The SBA doesn't make loans itself, but rather guarantees loans made by participating financial institutions, thereby assuring broader access to capital by reducing lending risk.

The 7(a) program provides financing for general purposes and is the SBA's primary means of helping small businesses. The 504 program provides financing to help small businesses acquire fixed assets like real estate or equipment.

Small business is a Northway niche. Though the bank's experience extends to just about every industry, Northway is especially active with small, family-owned businesses.

Northway Bank serves the financial needs of consumer, small business, and commercial customers throughout New Hampshire. As a local business with 17 banking centers, 225 associates, and a full range of banking and investment solutions, Northway supports customers, businesses, and communities as they work to achieve more rewarding and financially secure futures. For more information, call 1-800-442-6666 or visit www.northwaybank.com.