Fall River-based BankFive has been named both the Minority Lender of the Year and the Export Lender of the Year for the Commonwealth of Massachusetts for the fiscal year 2012 by the Small Business Administration (SBA). This is the fourth year in a row the bank has been the top SBA lender in Bristol County.
"I congratulate BankFive and their team for the hard work and dedication that they have shown in providing experience, knowledge and assistance to small businesses," Robert Nelson, director of SBA’s Massachusetts district office, said in a statement. "BankFive has been recognized today by the SBA but know that their focus to help small businesses has always been based on their mission for their community not on awards and recognitions and for that I applaud them."
During 2012, the Bank made 31 SBA loans totaling close to $4.5 million, putting it at the top of the list for Bristol County and 11th in the state overall. The SBA loans included America’s Recovery Capital (ARC) loans, a temporary program designed to help small businesses weather the recent economic uncertainty, and 7(a) loans aimed at helping start-up and existing small businesses. BankFive approved 12.9 percent of its loans to exporters.
"We take pride in helping small and medium-size companies grow and reach their goals by offering the programs provided by the SBA," said William R. Eccles, Jr., president and CEO of BankFive, in a statement.
