First National named SBA Alaska 504 Lender of the YearA commitment to providing financial assistance to Alaska businesses earned First National Bank Alaska significant recognition from the United States Small Business Administration.
First National was selected the Alaska SBA 504 Lender of the Year for 2011.
The bank approved nine SBA 504 loans totaling $11,858,093 during the fiscal year ending Sept. 30, the highest number of approved loans in the state. The SBA 504 loan program provides long-term, fixed-rate subordinate mortgage financing for acquiring or renovating capital assets including land, buildings and equipment.
"We work shoulder-to-shoulder with small business owners in all regions of the state to offer local expertise that helps Alaskans overcome challenges and work toward financial success," First National Vice Chair Betsy Lawer said. "We are proud to play a vital role in financing new small businesses in Alaska and helping existing businesses expand."
The SBA presented First National with the award at the Alaska Lenders' Symposium in Anchorage earlier this month.
"First National Bank Alaska and our other SBA lending partners play vital roles in financing new Alaska small businesses and facilitating the expansion of existing businesses," Alaska SBA District Director Karen Forsland said. "We are proud to recognize First National for its success in using SBA's loan guaranty programs to provide our small business community with access to capital."
Established in 1922, First National is Alaska's largest Alaskan-owned and operated bank, with ATMs and 30 branches in 18 communities throughout Alaska. More information about First National is available at FNBAlaska.com.
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