Administrator Linda McMahon and the U.S. Small Business Administration’s Office of International Trade honored Regions Bank and 44 Business Capital, a division of Berkshire Bank, as the 2019 SBA Export Lenders of the Year at the 12th annual SBA Export Lenders’ Roundtable.
During the event, both lenders were recognized for their efforts to increase access to capital for U.S. companies providing international trade financing to small businesses.
“It is my pleasure to recognize the SBA’s 2019 Export Lenders of the Year. The export financing provided by our lender partners plays a pivotal role in helping small businesses compete and succeed in the global market. In fact, small businesses that export grow faster, pay higher wages and have greater economic stability,” said McMahon. “The Trump Administration and the SBA are committed to ensuring equal access for small businesses to international markets, expanding export opportunities, and reducing or eliminating trade and investment barriers that disproportionately impact small businesses.”
Regions Bank Vice President Yareny C. Camacho accepted the award for large lending institutions on behalf of Regions Bank. Regions is a member of the S&P 500 Index and the 16th largest full-service bank in the nation. Regions’ franchise spans across the South, Midwest and the state of Texas. As part of Regions’ strategy to provide solutions to help support the working capital needs of U.S. exporters, Regions added SBA’s Export Working Capital Guarantee Product to its suite of Global Trade solutions in 2016.
Berkshire Bank was recognized for its entrepreneurial approach, customer relations and distinctive culture. Berkshire Senior Vice President Greg Poehlmann accepted the award for small lending institution on its behalf. Berkshire provides business and consumer banking, mortgage, wealth management, investment and insurance services through 113 full-service branch offices throughout New York, Connecticut, Vermont, New Jersey, Pennsylvania, and Massachusetts.
Berkshire Bank has originated over $500 million in SBA 7(a) loans in the past nine years and is the nation’s leading SBA export express lender which supported 12 small business exporters in fiscal year 2018 with $12.8 million in export lending.
U.S. exports are important to the nation’s economy, and 98% percent of all exporters are small businesses. During fiscal year 2018, the SBA guaranteed $1.14 billion in financing to small business exporters.
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!