Community National Bank (CNB) was recognized at the Small Business Administration’s (SBA) annual meeting as Vermont’s top 7(a) dollar volume lender. CNB achieved this by having the highest total volume of 7(a) and 504 third party loans combined, totaling just under $8 million. The bank was also acknowledged for being one of the top 504 third party lenders in the state.
Small Business Administration’s Mission and Programs
The SBA was created to protect the interests of small businesses. Their mission is to help Americans start, build and grow businesses through their network of field offices and partnerships with public and private organizations.
The 7(a) Loan Program is the SBA’s primary program that helps start-up and existing small businesses acquire financing when they are not eligible for business loans provided through regular lending channels. This program is often used to help finance working capital, real estate, equipment and debt refinancing.
The SBA 504 Loan Program is designed to help small businesses grow. A 504 loan can be used to purchase real estate and equipment, renovate existing buildings or to build new facilities. To learn more about the Small Business Administration and the programs offered, please visit their website at www.sba.gov.
Community National Bank is committed to helping businesses grow. We have a team of experienced Commercial Lenders and support staff. To learn more about CNB and our business products and services call a local CNB office near you or visit our website at www.communitynationalbank.com.