SBA: Eastern Bank Is Top Small Biz Lender in MA
Eastern Bank approved the most amount of loans backed by the U.S. Small Business Administration in Massachusetts during the SBA’s fiscal year 2023, which ended in September
SBA Reports ‘Major Increase’ of Loans to Black-Owned Businesses
The US Small Business Administration reported an...
SBA Lending Ticked Up in Mass. This Year
While the number of U.S. Small Business Administration loans increased slightly in Massachusetts, the total amount of lending fell during the most recent fiscal year.
US Failed to Stop Fraud in COVID Loan Program, Top Rep Says
The U.S. failed to take basic steps at the start of the coronavirus pandemic to prevent fraud in a federal aid program intended to help small businesses, the chairman of a House panel examining the payouts said Tuesday.
SBA Extends COVID-Related EIDL Deferrals
Business owners who have received COVID-related Economic Injury Disaster Loans through the U.S. Small Business Administration now have more time before they need to begin repaying the loan.
Eastern Bank, Cape Cod 5 Among SBA’s Top Lenders
Eastern Bank was named a top lender for the 13th consecutive year by the Massachusetts district office of the U.S. Small Business Administration, and Cape Cod Five provided more loans to female entrepreneurs than any other Massachusetts lender.
Most Mass. Restaurants Did Not Receive RRF Grants
The Restaurant Revitalization Fund has closed, and three-quarters of the Massachusetts restaurants that applied to the federal grant program did not receive funds.
New SBA Head Plans Changes at Agency
The new head of the Small Business Administration says she expects to make changes at the agency that she says will enable it to further help small companies devastated by the COVID-19 pandemic.
Banks Turn to Online Portals to Process PPP Forgiveness
With 118,000 Massachusetts small businesses, nonprofits and independent contractors receiving loans through the Paycheck Protection Program, lenders must now work on the forgiveness phase.
Dedicated Window Opened for Small Bank PPP Apps Tonight
The Small Business administration is opening a window this afternoon and evening for smaller credit unions and banks to submit Paycheck Protection Program loan applications without competition from larger institutions.
Bankers Faced Challenging Week as PPP Rolls Out
Even with the uncertainties and problems with the PPP loans and the need to work late nights and weekends to prepare, community needs have driven many lenders to commit to the program.
Personnel File
BayCoast Bank, Columbia Construction Co. and Taymil Partners are featured in this week’s roundup.
SBA Massachusetts Names Unic Pro Woman-Owned Business of Year
The U.S. Small Business Administration has named Unic Pro Inc. the 2018 Woman Small Business Owner of the Year for Massachusetts.
Meet the New SBA Administrator of New England
Earlier this year, Wendell Davis became the new regional administrator for the New England region of the U.S. Small Business Administration, where he oversees the management of capital, contracting and counseling programs to the 1.4 million businesses in Connecticut, Maine, Massachusetts
Competition Heats Up In SBA Market
As credit unions, large banks and community banks plunge deeper into the Small Business Administration loan market, the competition may drive financial institutions to offer better rates and loan terms to consumers, issue more SBA 504 loans and spur innovation.
Beverly Bank Named SBA Lender Of Q3
The Massachusetts division of the U.S. Small Business Administration has named Beverly Bank the Small Business Lender of the Quarter for the third quarter of the federal fiscal year, which runs from October through September.
McMahon Names Bradfield SBA Chief Of Staff
Small Business Administration head Linda McMahon has named Mary Anne Bradfield, a member of President Donald Trump’s transition team for the agency, as her chief of staff.
Former SBA Admin Tapped To Head SBA Lending At Santander
The former New England regional administrator for the U.S. Small Business Administration was named the new director of SBA lending at Santander Bank.
SBA Touts More Than $1M In Fee Savings Under Special Program
The Massachusetts district of the Small Business Administration (SBA) said recently that its fee waiver program launched last year saved Bay State small business borrowers more than a million dollars.
Berkshire Bank Beefs Up SBA Efforts With New Additions
Berkshire Bank late last week announced it closed on...
