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Sunwest Bank Loans Receive Top Recognition from Small Business Administration

July 18, 2019, 09:00 AM
Filed Under: Industry News

Sunwest Bank is excited to announce its 504 and 7(a) loans have received top 50 rankings from the U.S. Small Business Administration (SBA). For 504 loans, – typically used for real estate, and machinery – Sunwest Bank is 37th in the United States and 14th for the Orange County/Inland Empire area. The SBA also ranked Sunwest Bank 50th in the Orange County/Inland Empire area for 7(a) loans, which are specifically used for small businesses. Sunwest Bank is ranked 232nd, nationally, for SBA Loans.

"I am proud of our team. Our rise through the rankings shows the bank's dedication to the small business owner," said Sunwest Bank SBA Sales Manager Thomas Chavez, "It also shows our commitment to lending in our community. We have built a team of professionals that understand the small business owner and look forward to meeting their needs, in the marketplace."

This recognition comes shortly after Sunwest Bank was recognized by American Banker as the 57th "Top Community Bank," in the May 2019 issue. Additionally, Sunwest Bank began the first quarter of 2019 posting a stout net income of $5.6 million. This was fueled by a strong net interest margin, which grew from 4.217 percent, a year ago, to 4.52 percent today.

"We are pleased to be among the top banks in the nation for originating SBA loans," Carson Lappetito, President of Sunwest Bank said, "We believe in small businesses, and want to do our part to help grow the west."

The U.S. SBA is an independent agency of the federal government dedicated to protecting the interests of small businesses by helping them receive assistance in the form of SBA Loan guarantees and contacts.

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