Peoples Bank takes home national SBA award

MENDENHALL — Peoples Bank of Mendenhall recently received the Small 7(a) Lender of the Year Award from the U.S. Small Business Administration (SBA).

While portfolio performance played a significant role in the award, the institution’s continued support of small business, especially in underserved communities during challenging economic times was also a major factor.

In FY 2010, Peoples Bank made 320 SBA loans to small businesses, delivering more than $21 million to small businesses in Mississippi, with more than $6.8 million of that total going to borrowers in underserved markets.

Peoples received its awarded during Small Business Week, when the SBA honors State Small Business Persons of the Year from all 50 states, the District of Columbia, Guam and Puerto Rico and the Virgin Islands, and recognizes businesses recovering from natural disasters, people who have helped others recover from natural disasters, small business lenders, small business contractors and contracting officers and advocates for small businesses.

Source: SBA