WASHINGTON, Oct. 30, 2015 /PRNewswire-USNewswire/ -- The National Association of Development Companies (NADCO) named two top SBA-certified small business lenders as "Most Active SBA 504 Lender" during the 2014-2015 fiscal year as part of its Diamond Awards Series.
JPMorgan Chase Bank earned the "Large Bank" award by partnering with Certified Development Companies (CDCs) on 291 loans and lending more than $257 million to small businesses during the 12-month span. Nevada-based Meadows Bank won the "Community Bank" award, partnering with CDCs to lend more than $16 million in SBA 504 loans in the same time period.
Both lending institutions will be recognized during the association's annual industry meeting in New Orleans Nov. 10 through 13.
"We're thrilled to see banks both large and small embracing the SBA 504 program, which is really about creating American jobs," said Barbara A. Vohryzek, NADCO chief executive officer. "I hope these awards will inspire other banks to get involved with this program."
"Meadows Bank is very excited to be receiving the Most Active SBA 504 Lender Award," said Senior Vice-President for Meadows Bank, Calvin Regan. "The 504 program is a fantastic option for businesses looking to acquire real estate. Thanks to all of the CDCs that we have worked with and to all Meadows Bank loan officers, underwriters and processors for making this possible."
"We thank NADCO for its work in the SBA industry and for giving Chase the Most Active SBA 504 Lender Award," said Larry Conley, senior vice-president and SBA manager at JPMorgan Chase. "The 504 program has been very helpful to us in meeting our customers' borrowing needs, and we look forward to continuing to work with NADCO in the future."
Sally Robertson, NADCO Board of Directors chair, will present both awards at the Nov. 11 Keynote and Awards Luncheon, immediately after U.S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet's keynote address.
With more than 170 of the largest 230 CDCs represented, the NADCO Annual Meeting represents the largest gathering of SBA 504 industry professionals to take place each year. NADCO is the industry trade association for SBA Certified Development Companies (CDCs), the only approved providers of the SBA 504 loan.
SOURCE National Association of Development Companies (NADCO)