NH SBA Recognizes the Provident Bank in its 2017 Lender Awards
The Provident Receives Award for the Fourth Consecutive Year
(PORTSMOUTH, N.H., NOV. 10, 2017) – The Provident Bank (NASDAQ:PVBC) has been presented with a 2017 Lender Award by the New Hampshire district office of the U.S. Small Business Administration.
This recognition marks the fourth consecutive year the Provident has been lauded for its role in increasing access to capital for small businesses in New Hampshire.
“In 2017 our lending partners in New Hampshire once again increased access to capital for small businesses throughout the state,” said Greta Johansson, district director of the SBA in Concord. “Small businesses contribute in innumerable ways to the vibrancy of New Hampshire’s economy and lifestyle, and working with our lenders we are fortunate to play a role in those contributions.”
The Provident Bank approved more than $11 million in loans in New Hampshire, making it the leading 7(a) lender based on total number of loans. It also contributed an additional $3.8 million in support of 504 projects.
Johansson cited The Provident's expertise in helping the Waterville Valley Resort secure $5 million in funding for new snowmaking equipment as a substantial deal not often seen in New Hampshire. In presenting the award to CEO Dave Mansfield during a public recognition event in Concord, Johansson detailed The Provident's diverse portfolio of loans extended to small businesses in the state.
“Their loans went to seasonal business, manufacturers and a variety of industries and ranged in size from $25,000 to $5 million,” she said. “Over 36 percent of their New Hampshire loans went to ‘new’ businesses, over 26 percent to woman-owned and nearly 16 percent to veteran-owned businesses. We thank The Provident Bank for their dollar volume in 7(a) lending.”
The Provident Bank has now been recognized by the New Hampshire district office of the U.S. Small Business Administration for four consecutive years – 2014, 2015, 2016, and 2017.
For more information, visit theprovidentbank.com.
About The Provident
The Provident Bank is an innovative, commercial bank that finds solutions for our business and private clients. We are committed to strengthening the economic development of the regions we serve, by working closely with businesses and private clients and delivering superior products and high-touch services to meet their banking needs. The Provident has offices in Massachusetts and New Hampshire. All deposits are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).