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February 24, 2003
KENNEBUNK, Maine -- In the most recent fiscal year report by the Small
Business Administration (SBA), Kennebunk Savings was the leader in
dollar volume among all banks in Maine with 41 loans totaling almost
$9 million. In addition, Kennebunk Savings was also the leading
independent community bank in Maine in number of SBA loans.
"Small businesses are the lifeblood of our communities,"
notes Joel Stevens, president and CEO of Kennebunk Savings Bank.
"They help define a town and that is why we, as a community bank,
are so supportive of helping small businesses succeed."
The SBA has been guaranteeing loans made by affiliated banks to small
businesses since its creation in Congress in 1953. These guarantees of
up to 90% of the loan value enable entrepreneurs to obtain long-term
credit that otherwise would not be available through conventional
means. Kennebunk Savings Bank became an SBA Preferred Lender three
years ago. This designation is the highest level of lending status and
is awarded to lenders that have demonstrated a high level of
proficiency in working with small businesses in creating, processing,
closing and servicing SBA guaranteed loans. As an SBA Preferred
Lender, the bank is able to decide unilaterally to guarantee an
application. Hence, it can provide the same fast credit decision to
customers applying for a small business loan as a conventional loan.
Kennebunk Savings Bank, York County’s leading full service financial
institution for business, offers a full range of business banking
products, loans and insurance. With eleven banking offices from
Sanford to Kittery, the two-time recipient of the Finance Authority of
Maine (FAME) Bank of the Year Award and 2001 winner of the Maine
Businesses for Social Responsibility Eagle Feather Award, has $500
million in assets. It offers commercial insurance products through its
subsidiary, Morris Insurance.
For more information contact:
Heather Harris
Community Relations Officer
Kennebunk Savings Bank
1-800-339-6573 |
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