Leader Bank Named Massachusetts Lender of the Year to Minorities by the U.S. Small Business Administration
ARLINGTON, MA (January 8, 2021) Leader Bank, N.A. is pleased to announce that the Massachusetts office of the U.S. Small Business Administration (SBA) recently honored the Bank at its local Annual Meeting as the 2019 Massachusetts Lender of the Year to Minorities. Leader Bank was particularly active in small business lending for the SBA, ranking as fifth most active SBA lender in Massachusetts in fiscal year 2019, and the Bank made 58% of its total SBA loans to minority owned businesses.
“We are very proud to be recognized by the Massachusetts Office of the SBA,” said Sushil K. Tuli, President & CEO of Leader Bank. “Our commercial lending and business banking teams work tirelessly to assist both new and existing small businesses thrive. We are privileged to work with these entrepreneurs to help create jobs in Massachusetts and beyond. We are particularly honored to be recognized for our work with minority owned businesses and look forward to helping many more such small businesses succeed and grow.”
Leader Bank is a proud participant in the SBA program and has been a Preferred Lender of the SBA since 2010. The Bank maintains a diverse suite of SBA loan products including term loans and lines of credit. These loans help small businesses by providing working capital, financing acquisitions of property or equipment, funding the purchase of existing businesses, or refinancing higher cost debt. Since 2015, the Bank has made over 350 SBA loans, totaling more than $41 million in lending to small businesses across New England.
In addition to its own recognition, Leader Bank congratulates the other SBA lender award winners for 2019. Over the past year, over 135 lenders utilized the various SBA programs to create or retain more than 13,500 jobs across Massachusetts.
About Leader Bank
Founded in 2002, Leader Bank is a Massachusetts-based entrepreneurial financial institution that approaches banking differently. The core tenets of Leader Bank include world-class client service, exemplary products, and innovation to meet the needs of its clients. At its founding, Leader Bank had $6.5 million in assets – in the two decades since, the Bank has grown into one of the most successful financial institutions in the Commonwealth with $4 billion in assets. Leader Bank’s team members have been at the forefront of supporting the Bank’s rapid growth and client-oriented solutions over the last two decades as the Bank has expanded its commercial and retail products and solutions. Leader Bank is a committed corporate citizen and prides itself on partnering with and supporting philanthropic organizations. More information on Leader Bank can be found at www.leaderbank.com.
