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Legacy Named the Small Business Administration Lender of the Quarter - November 27, 2007
The Small Business Administration (SBA) has recognized Legacy Banks as Massachusetts Lender of the Third Quarter 2007. According to the SBA, during the period of May through August 2007, Legacy approved 10 SBA-supported loans for an annual total of 26, which ranks the bank the 12th most active lender among 117 lenders throughout the state.
The award was presented at the SBA’s quarterly partners meeting to John Masten, Legacy’s new small business lending officer. Masten’s position was created within Legacy Banks’ Commercial Group in April to service the unique financing needs of the small business community. Since then, he has been working closely with small business customers to tailor financing packages to meet their individual circumstances. Many of these businesses have taken advantage of the benefits provided by the SBA.
Massachusetts SBA District Director Robert H. Nelson commended Legacy on its progress with small business lending saying, “As the new Massachusetts district director and former branch manager covering western Massachusetts, I can not emphasize enough how important it is to have such a good partner in Legacy Banks. The momentum they have established over the past few years is truly significant and the Massachusetts SBA team looks forward to expanding our relationship in order to continue to help small businesses in western Massachusetts obtain access to capital.”
Recognizing that small business is critical to economic development, the SBA supports individuals who wish to start, build and grow businesses. As part of this effort, the federal agency works with financial institutions, such as Legacy Banks, to insure loans that may otherwise not be financed. |
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