BANGOR — Bangor Savings Bank was the top Small Business Administration (SBA) lender in Maine in 2012, providing $4,712,100 in loans to 43 new or existing businesses, according to a news release.
Maurice Dube, Maine District director of the Small Business Administration, made the announcement at a gathering of small business owners held at Qualey Granite & Quartz in Veazie.
“Maine’s small businesses are the key to the state’s economic well-being, and the SBA works hard to provide many types of support,” said Dube. “Having access to affordable loans is essential to get businesses off the ground or help them expand. I’m here to congratulate Bangor Savings Bank for their outstanding role in keeping Maine’s small business community thriving.”
In the fiscal year ending Sept. 30, 2012, Maine banks provided 321 loans totaling $72.3 million to small businesses statewide. The SBA’s definition of a small business is one employing less than 500 workers. According to 2008 data, there are 147,484 small businesses in Maine, accounting for 59.7 percent of privatesector jobs in the state.
Jim Conlon, Bangor Saving Bank’s president anad CEO, said, “As Maine’s largest independent bank, we know how important small businesses are to the state’s economy. Bangor Savings Bank has made an effort to continue to lend money to businesses, even in the face of a slowly growing economy.”
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