ORLEANS – Cape Cod 5 has been named Massachusetts Lender of the Quarter by the U.S. Small Business Administration. The award was given for the third quarter.
“Cape Cod 5 has earned this recognition for being the number 1 third party lender in Massachusetts by dollars approved with a YTD total of $12.1 million and increasing utilization of the 504 program with 6 approved projects during the 3rd quarter of 2018,” said SBA Massachusetts District Director Robert Nelson.
The SBA guarantees a number of small business loans which range from to large (up to $5.5 million) and can be used for business purposes, including long term fixed assets and operating capital.
By partnering with Cape Cod 5 the SBA can effectively connect small businesses with needed capital.
“Cape Cod 5 is committed to supporting the success of the businesses in the communities we serve,” said Robert A. Talerman, First Executive Vice President and Executive Lending Officer at Cpae Cod 5. “The SBA programs provide additional tools for us to meet the needs of business customers, particularly in situations where a borrower has limited down payment funds or may be relying on revenue projections.”
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