Posted November 27, 2019
The U.S. Small Business Administration (SBA)’s Maine District Office presented Camden National Bank with the 2019 District Director Award at its recent lender awards ceremony in Augusta. SBA leadership in Maine determines the award recipient, a lender which has made significant efforts to increase the use of SBA loans in their portfolio and the access to capital for small businesses in the previous fiscal year.
In Fiscal Year 2019, Camden National made 16 loans for a little over $3.8 million under the SBA’s 7(a) program, and 6 loans for a little over $7.8 million under the 504 3rd Part loan program. This was the third highest number of 7(a) loans and the second highest number of 504 3rd Party loans among lenders in Maine for Fiscal Year 2019.
“We are very proud to be recognized by the SBA for our strong partnership and commitment to helping small businesses in Maine succeed,” said Tim Nightingale, Executive Vice President and Senior Lending Officer at Camden National Bank. “As community bankers and local financial advisors, we are passionate about providing personalized solutions which enable small businesses to thrive, fueling economic growth and job creation in our communities.”
The SBA was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. Its mission is to help Americans start, build, and grow businesses.
“We depend on our lenders to effectively deliver SBA loan programs in Maine, and their efforts deserve recognition and appreciation,” said Amy Bassett, SBA District Director for Maine. “Utilizing our programs, to the benefit of Maine’s small businesses, takes dedication and commitment from the entire lending institution. We could not achieve our mission of helping small businesses start, grow and thrive without devoted lending partners like Camden National Bank.”
About Camden National Corporation
Camden National Corporation (NASDAQ:CAC) is the largest publicly traded bank holding company in Northern New England with $4.5 billion in assets and nearly 650 employees. Camden National Bank, its subsidiary, is a full-service community bank founded in 1875 in Camden, Maine. Dedicated to customers at every stage of their financial journey, the bank offers the latest in digital banking, complemented by personalized service with 60 banking centers, 24/7 live phone support, 71 ATMs, and lending offices in New Hampshire and Massachusetts. Camden National Bank was named one of two “Customer Experience Leaders in U.S. Retail Banking” by Greenwich Associates, and in 2019, it was the only New England based organization included in Sandler O’Neill’s “Bank & Thrift Sm-All Star” list of high-performing financial institutions. The Finance Authority of Maine has awarded Camden National Bank as “Lender at Work for Maine” for nine years. Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management. To learn more, visit CamdenNational.com. Member FDIC.