Press Release · Jul 18th, 2022
1st Source Bank has been recognized by the Business Development Corporation (BDC) as the top lender of SBA 504 loans for the years 2020 and 2021. In both years, 1st Source had the highest number of SBA 504 loan approvals, as well as the highest dollar amount in approvals.
“We all know the last two years have been challenging for the business community locally and around the world,” says Larry Mayers, Fort Wayne Region President and Business Banking Group Head at 1st Source Bank. “Our focus throughout the pandemic remained on serving small businesses across our footprint, working closely with them to ensure their lasting impact. This recognition by the BDC is proof that our focus was successful, and that we were able to act on our mission of helping our clients achieve their dreams.”
“We’re honored to be recognized by the BDC for the hard work and dedication of our lenders,” states Ryan Bell, 1st Source Bank Small Business Market Manager. “Our team has a lot to be proud of, and honors such as this are welcome confirmation that our passion for serving small businesses is making a difference in our communities.”
This honor as top SBA 504 lender by the BDC is the latest recognition for 1st Source Bank for small business lending, as the Bank has also received the Community Lender “Gold Level Award” by the Indiana District of the U.S. Small Business Administration as the top SBA lender of its size in the state nine years in a row.