Marlborough – St. Mary's Credit Union has been named SBA's Lender of the Quarter for the second quarter of fiscal year 2014 (January 1,2014 – March 31, 2014), ?according to a recent announcement made by Robert H. Nelson, Massachusetts district director of the U.S. Small Business Administration (SBA).
A certificate of recognition was presented to the credit union in a special ceremony that included SBA Regional Administrator Seth Goodall and District Director Bob Nelson April 28. Representing the credit union were a group of directors, senior management and staff.
“We are delighted to recognize St. Mary's Credit Union for their excellent SBA activity for the quarter,” said Nelson. “During the past quarter, the credit union has completed six SBA loan approvals representing very strong activity and a commitment to small business and SBA programs. ?Congratulations to St. Mary's Credit Union!”
St. Mary's Credit Union Chairman of the Board Gerard P. Richer accepted the award along with President and CEO James C. Garvey.
“Small businesses are the economic engine of our economy.? Anything that we do to foster and support small business growth ultimately benefits everyone,” Garvey said.
The SBA, under its 7(a) Loan Guaranty Program, can guarantee loans up to $5 million.? Loans are available for most business purposes, such as to purchase commercial real estate, equipment, and inventory as well as for short-term working capital. For more information about SBA loan programs, visit www.sba.gov.
St. Mary's Credit Union, founded in 1913, is a $640 million full service financial institution offering consumers and businesses a comprehensive range of products and services in Metrowest and Central Massachusetts. Visit www.stmaryscu.org for more information.