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EDAM Members Honored Among SBA's 2018 Top Minnesota Lenders

Tuesday, September 25, 2018   (0 Comments)
Posted by: Colleen Ayers
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The U.S. Small Business Administration (SBA) honored 12 lenders throughout Minnesota for their commitment to helping small businesses succeed during the sixth Annual Lenders Conference on September 6, 2018. The awards honor of the lenders with the highest participation in SBA-guaranteed loan programs from July 1, 2017 to June 30, 2018.

 

Three EDAM member companies were among the honorees - congratulations to the Central Minnesota Development Company, Minnesota Business Finance Corporation, and Southwest Initiative Foundation!

The SBA’s ability to help small businesses access capital is tied to the country’s lending institutions and its partners’ ability and willingness to loan money. The SBA doesn’t lend the money directly to entrepreneurs to start or grow a business, but sets the guidelines for loans made by its partners (lenders, community development organizations and micro-lending institutions). The SBA guarantees that these loans will be repaid, which eliminates some of the risk to the lending partners.

Learn more and see the full list of honorees


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