Adirondack Bank has been recognized as the top small community lender in Central New York by the Small Business Association for the recently ended fiscal year 2013.
This marks the fifth consecutive year that Adirondack Bank has received this distinction.
Adirondack Bank was one of three banks identified by SBA Syracuse District Director Bernard J. Paprocki for the highest number of 7(a) approvals in their respective categories based on asset size.
The 7(a) Loan Program is the SBA’s primary program to help start-up and existing small businesses obtain financing when they might not be eligible for business loans through normal lending channels.
Adirondack Bank received top honors in the small community’s category for approving 10 loans valued at $6.2 million, outperforming all other small community lenders with an asset size of less than $1 billion.
“We are pleased to have earned this designation from the SBA for the fifth year in a row. Small business is the backbone of the communities we serve and being a financial resource to our neighbors has always been a priority for us. We are proud to partner with the SBA to provide these programs in support of our customers in and around Central and Northern New York,” said Adirondack Bank President and CEO Rocco F. Arcuri, Sr.
