1st Source Bank #1 in SBA Loans
South Bend, IN – 1st Source Bank has ranked #1 in the number of Small Business Administration, (SBA), 7(a) loans closed in the last fiscal year for the SBA’s northwest region. The bank ranked #3 statewide, making it the sixth year in a row that the bank has been ranked a top five SBA lender in the state.
1st Source Bank was also recognized by the SBA as the #1 provider of Patriot Express Loans in Indiana and closed more Patriot Loans than any other bank during the past year. The Patriot Express is a pilot loan initiative for veterans and members of the military community wanting to establish or expand small businesses.
Additionally, 1st Source banker, Ryan Fenstermaker, was recognized for closing more SBA 504 loans through the South Bend Business Development Corporation, BDC, than any other individual in the region.
“I’m proud of our consistent ranking as a top SBA lender in the state,” said Joe Kuzmitz, Senior Vice President of 1st Source Business Banking. “1st Source has a long history of working with the SBA to help the growth of businesses in our community. In all, we’ve helped local businesses create and retain more than 1,000 jobs in our markets this past year.”
1st Source Corporation, parent company of 1st Source Bank, has assets of $4.31 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 75 banking centers in 17 counties, 22 1st Source Bank Specialty Finance Group locations nationwide, eight Trust and Wealth Management locations and seven 1st Source Insurance offices.