Arvest Bank Recognized as Top SBA Lender at SBA Business Award Luncheon

Wednesday, July 03 at 08:40 AM
Category: Arvest News

The 23rd Annual Arkansas Small Business Award Luncheon sponsored by the Arkansas State Chamber of Commerce, Associated Industries of Arkansas and the U.S. Small Business Administration was held on May 2, 2013, at Verizon Arena in North Little Rock, Ark.

For the second year in a row, Arvest Bank was awarded a plaque as the Top SBA Lender (for fiscal year 2012) at the Small Business Award Luncheon. Arvest Bank was the leading lender in Arkansas for both number of SBA loans and dollars produced in fiscal year 2012. Arvest Bank has been an SBA Preferred Lender since 2004 and participates in the SBA Express, Patriot Express, 504 loan program and the 7(a) loan program.

The SBA is a government agency that provides support to small businesses, such as education and preparedness to apply for loans through banks or financial institutions.  The SBA does not make direct loans to businesses but acts as a guarantor on loans.  Its mission is “to maintain and strengthen the nation’s economy by enabling the establishment and viability of small business and by assisting in the economic recovery of communities after disasters.”

Arvest attributes much of the SBA loan growth to the availability of the bank’s local lenders and those lenders’ knowledge of their individual markets. By working in partnership with the SBA programs, Arvest’s lenders can help business owners participate in programs they might not have known about on their own.

Charlott “Chotsie” Adney of Advanced Aesthetics of Little Rock, Ark. was also recognized at the award luncheon. She was named the Arkansas Small Business Person of the Year. Her company offers high-end skin care and cosmetic products and skin and laser treatments. An SBA Recovery Act loan helped her to expand her business space, allowing her to grow her business and offer new and innovative products to her clients.

Other award recipients included Michael Leidermann, President of PanAmerican Consulting, Inc. of Little Rock, Ark., as Small Business Champion of the Year and Donald “Doughboy” Stone, Founder/President of Doughboy’s Arkansas Youth Catering Company as the Young Entrepreneur of the Year. 

Tags: Arkansas, Arvest Biz, Business Banking
Omair Khalid on 8/1/2013 at 6:04 PM
This was a great article. America is lucky to have an agency like SBA to back up its small businesses.

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