EUGENE, Ore.--(BUSINESS WIRE)--Results are in for U.S. Small Business Administration (SBA) loans in Oregon, and Summit Bank (OTC Pink: SBKO) continues to lead the way. Lending totals reported in November of the SBA Portland District Office (with territory including Oregon and Southwest Washington) were recently published. The results detail that Summit Bank is the number one community bank lender in Oregon that offers SBA financing, with over $18MM in SBA loans as a third-party lender this year.
Additionally, in 2021, our SBA department funded 259 PPP loans totaling nearly $62MM for small business support across Oregon. Thanks to our SBA team, we helped local businesses save tens of thousands across Oregon keeping businesses afloat throughout the COVID-19 Pandemic. Over the last 18 months, SBA loans help small businesses promote and strengthen the overall economy through financial assistance and providing counsel to help people start and grow their businesses.
SBA Program Administrator, Ashley Horner noted, “This recognition speaks volumes as to how nimble we are as a community bank. As compared with other lenders, who go through layers of management to get to a decision-maker, we have a small number of people involved in making loan decisions locally. We also take advantage of the latest technology, which allows our deals to get approved faster.”
A recent testament to that expedited turnaround process is Ben Hennes (Co-Owner & CCO of Happylucky): “Melanie and the whole team at Summit bank are phenomenal and were so instrumental in helping my business partner Emily and I secure our first SBA loan. As first-time business owners, their grace, collaboration, and mentorship through the process helped us fulfill our dream of purchasing our agency and keeping this local business independent and in the family. Their speed in processing allowed us to take advantage of some great SBA products, and we're just so grateful for their continued partnership. “
With offices in Eugene, Central Oregon, and the Portland Metropolitan area, Summit Bank is a community bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners.