First National named SBA Alaska 504 Lender of the Year, againFor the second consecutive year, First National Bank Alaska's commitment to providing financial assistance to Alaska businesses earned significant recognition from the United States Small Business Administration.
First National was selected the Alaska SBA 504 Lender of the Year for 2012. The bank earned the same distinction in 2011.
The bank approved 11 SBA 504 loans totaling $3,768,405 during the fiscal year ending Sept. 30. 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 recommend the SBA 504 program every time we see ways it will benefit our customers," First National Bank Alaska Vice President Jay Page said. "Businesses are offered many helpful options like lower down payment requirements, for example. The program has always been an invaluable source of funding for small-business clients looking to grow their businesses."
"The bank is deeply honored to be recognized by the SBA for the second consecutive year and remains proud to play an important role in financing small businesses in Alaska."
The SBA will present First National with the award at February's Alaska Lenders' Symposium in Anchorage.
"First National Bank Alaska and our other SBA lending partners play vital roles in financing new Alaskan small businesses, and facilitating the expansion of existing businesses," Alaska SBA District Director Karen Forsland said. "We are proud to recognize FNBA for their success in using SBA's loan guaranty programs to provide our small business community with access to capital."
Alaskan-owned and operated since 1922, First National proudly meets the financial needs of Alaskans with ATMs and 30 branches in 18 communities throughout the state. Visit FNBAlaska.com for more information about Alaska's largest locally-owned bank and access to efficient and secure online banking services.
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