Access National Bank Ranked Number One Small Business Lender In Washington Area
Access National Bank (NASDAQ: ANCX) today announced that it is the #1 ranked small business lender by dollar volume among all banks in the Washington Metropolitan Area District, according to the United States Small Business Administration (SBA) for the government fiscal year ended Sept. 30, 2010. In 2009, the bank was the #1 SBA lender among community banks in the district, which includes Northern Virginia and suburban Maryland.
“We are proud of our SBA team members, who have lent more capital to local small businesses than our larger competitors, even in a down economy. Our Team is not sitting on the sidelines, but working overtime to make loans that will fuel growth and hiring in our communities,” said Michael Clarke, President and CEO of Access National Bank (ANB). “The newly passed Small Business Jobs Act will also stimulate lending in numerous ways, such as increasing maximum loan size from $2 million to $5 million. We are educating our current and future clients about how these loans can be used to buy a business, refinance debt, and obtain working capital.”
This year ANB increased its origination of SBA guaranteed loans in the district by 65 percent, from over $7 million in 2009 to over $12 million in 2010. The bank also has an outstanding record of low loan losses.
Ted Lauer, ANB’s SBA Department Manager and Senior Vice President, was recently honored as co-winner of the SBA’s Financial Services Champion of the Year for the district. For information on the SBA’s 7(a) loan guaranty program and recent changes, contact Mr. Lauer at 703-871-2104 or tlauer@AccessNationalBank.com.Access National Bank is a subsidiary of Access National Corporation, headquartered in Reston, Virginia with $790 million in assets reported as of June 30, 2010. Additional information is available on our website at www.AccessNationalBank.com. This press release contains “forward-looking statements” within the meaning of the federal securities laws. These statements may be identified as “may,” “could,” “expect,” “believe,” anticipate,” “intend,” “plan” or variations thereof. These forward-looking statements may contain information related to those matters such as the Company’s intent, belief, or expectation with respect to matters such as financial performance. Such statements are necessarily based on assumptions and estimates and are inherently subject to a variety of risks and uncertainties concerning the Company’s operations and business environment, which are difficult to predict and beyond control of the company. Such risks and uncertainties could cause the actual results of the Company to differ materially from those matters expressed or implied in such forward-looking statements. For an explanation of certain risks and uncertainties associated with forward-looking statements, please refer to the Company’s Annual Report on Form 10-K and other SEC filings.
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