SBA tracks and ranks lenders in four categories: Lenders by Loan Volume (Number of Loans); Lenders by Dollar Volume of Loans; Certified Development Companies (CDC) by Loan Volume; and, Certified Development Companies by Dollar Volume of Loans. SBA Lender awards recognize the outstanding contributions of lenders who underwrite SBA-guaranteed loans and provide access to capital for small business entrepreneurs in Mississippi.
The top three Loan Volume lenders are First Financial Bank (176 loans), Community Bank (140 loans) and Trustmark National Bank (127 loans).
The top three Dollar Volume lenders are Community Bank ($36.33 million), First Financial Bank ($28.95 million) and Trustmark National Bank ($10.54 million).
The top three Loan Volume and Dollar Volume CDCs are Central Mississippi Development Company Inc. (13 loans, $14.12 million), Three Rivers Development Company Inc. (six loans, $4.74 million) and Six Bridges Capital Corporation (one loan, $2 million).
In fiscal year 2009 (Oct. 1, 2008 to Sept. 30, 2009), SBA approved guarantees for 770 loans totaling more than $144.9 million in Mississippi. “That loan volume exceeded the prior two fiscal years and resulted in an estimated 2,899 Mississippi jobs created or retained,” said Janita Stewart, SBA district director. “These results placed the Mississippi SBA Office in the top 10 percent, as we are one of only seven SBA offices out of 70, nationally, that met/exceeded its lending goals. These results are the direct efforts of our lending partners, our extensive marketing and outreach, and the nuances of our programs.”
The Mississippi SBA Office will present the awards to its top lenders during a lender conference scheduled in the spring of 2010. Details on the lender conference and award program will be announced in the spring.