The Small Business Association (SBA) has released their Loan Volume Report for fiscal year 2021 and Primary Bank has been recognized as the top SBA 7(a) and 504 lender in the state of New Hampshire.
“Primary Bank was approved to participate in SBA lending the summer of 2015, and since that time they have been an excellent partner. The bank has been a leader in New Hampshire with both our 7(a) and 504 loan programs. When the pandemic hit, Primary Bank (like so many of our lenders) rose to the challenge by utilizing the Paycheck Protection Program and providing that lifeline to as many small businesses as possible.
We’re very proud of the Primary Bank team as they celebrate another year of outstanding achievement and continued success,” said Amy Bassett, acting regional administrator-region one and New Hampshire district director.
In fiscal year 2021, Primary Bank advanced individual small businesses with 7(a) lending at $26 million, and 504 lending with an additional $26 million, ahead of all other lenders, approximately 83% and 184% higher respectively, in total dollar volume, than the closest second place financial institutions. With a combined total of $229 million in 7(a) and 504 lending for the state of New Hampshire, Primary Bank accounted for approximately 23% of that lending with $52 million.
“We are honored for this recognition and are thankful that the SBA provides such programs which allow us to support NH businesses. We believe it is our responsibility to support the business community with the goal of maintaining our vibrant NH economy,” said Bill Stone, President and CEO of Primary Bank.
Since Primary Bank’s inception, the Bank has been recognized by the New Hampshire District office as a leading financial institution utilizing the SBA loan programs.
www.primarybankNH.com • 207 Route 101, Bedford • 1662 Elm Street, Manchester • 23 Crystal Avenue, Derry • Coming soon: 327 Amherst Street, Nashua.