The Adirondack Trust Company Has Second Highest Year For SBA Loans

November 27, 2017

The Adirondack Trust Company announced today that 2017 has been a successful year for its lending through the U.S. Small Business Administration. For the year ending Sept. 30, 2017, the Adirondack Trust Company approved 42 SBA 7(a) loans, amounting to more than $3.45 million.  This makes Adirondack Trust Company the top lender in Saratoga and Warren Counties as a locally headquartered community bank. No other such bank came close to these results.

“We are very pleased with the results of our SBA lending activities this year.  For the fifteenth consecutive year, we were the most active locally headquartered and locally owned bank in both Saratoga and Warren Counties, both in terms of number of loans made and in terms of the total dollars loaned.” ATC President Stephan von Schenk said. “Since our founding in 1901, this has been the center of our work: Every day, we work closely with locally owned and operated businesses, and we are proud to be able to help them grow by making SBA and other financing programs available. We are only as strong as our community, and the core of our mission is to continually serve that community and go above and beyond.”

In addition to helping business owners achieve their financial goals, The Adirondack Trust Company’s SBA lending program assisted in creating 101 new jobs across 20 businesses in the region, putting more dollars into more local pockets.

In 2014, another milestone year, The Adirondack Trust Company transitioned from an active SBA Small Community Bank Lender in the Capital Region, to a Large Community Bank Lender, which includes banks with $1-$10 billion in assets. The SBA Capital region covers the following counties: Albany, Clinton, Columbia, Essex, Greene, Rensselaer, Saratoga, Schenectady, Schoharie, Warren, and Washington.

[1] The Lender’s Advantage (October 2017). U.S. Small Business Administration.

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