Country Bank has been ranked 22nd by dollar value of SBA loans approved in 2011, according to “Crain’s New York Business” in its New York Area’s Top SBA Lenders list. Country Bank approved $8.575 million of SBA 7(a) loans in 2011. In 2010, Country Bank was not ranked.
The rankings included SBA 504 loans provided by the Empire State Business Development Corporation and the New York Business Development Corporation. Excluding SBA 504 loans provided by these non-bank certified development corporations, County Bank’s ranking improves to 20.
“We are very pleased to break into the top 25 SBA lenders in New York for 2011,” commented Tim Moffett, Vice President and head of Government Guaranteed Lending at Country Bank. “In 2012, we expect to close upward of a combined $50 million of SBA first lien mortgages in conjunction with the SBA 504 program and SBA 7(a) loans. Unfortunately the 504 first lien mortgages are not counted in the rankings; otherwise, we would easily rank in the top 10 for 2012.”
“Part of our ability to close this volume is due to the assistance from our affiliate, ValueXpress,” noted Moffett. “We lean on their underwriting and technical skills to process SBA loans; we provide quick and efficient service for our clients in an effort to dispel the belief that SBA loans are cumbersome for borrowers.”