First Federal earns SBA 504 Lender of the Year
Posted: Friday, February 10, 2017
Premier Capital Corporation named First Federal Savings Bank as their Small Business Administration (SBA) 504 Lender of the Year Award recipient. This award is given to a financial institution that initiates the most SBA 504 projects in the fiscal year. In addition to winning the SBA 504 Lender of the Year award, Tom Mills, Senior Vice President at First Federal Savings Bank, received the SBA 504 Champion Award for the greatest number of transactions.
First Federal Savings Bank partnered with Premier Capital on SBA 504 approved projects during 2016. The SBA 504 loan program provides permanent financing to eligible businesses for the purchase, renovation or expansion of owner-occupied commercial real estate and large equipment. One mission of the SBA 504 program is to create jobs.
“Relationships with lenders across the state are the reason behind Premier Capital’s success,” said David Amick, Executive Director of Premier Capital. “We’re pleased to honor bankers who use the SBA 504 program to create jobs and support growth in their communities.”
Last year Premier Capital approved 56 SBA 504 loans totaling approximately $40 million supporting total projects of $112 million, making it a top tier SBA 504 provider in the nation and the number one in Indiana. Premier Capital estimates that the small businesses that received SBA 504 loans will create or retain nearly 500 jobs in Indiana during the next two years.