Park National Bank earns 3 awards for its 2016 SBA lending practices
NEWARK, Ohio – Park National Bank recently was honored with a trio of awards recognizing its efforts to grow communities through its Small Business Administration lending. These special honors are marks of excellence in Park National’s support of local small business owners and applaud the bank’s commitment to providing business owners easy access to financial resources.
U.S. Small Business Administration Columbus District Office Award
Annually, the Columbus District Office of the U.S. Small Business Administration recognizes lenders who have made a significant impact in the community. At the May 4 ceremony in Columbus’ North Market, Park National received the District Director Rising Star Award from the office for ensuring small businesses can access capital to create jobs, expand markets, launch new products and invest in new equipment.
“Park National Bank is an important partner in helping small businesses grow and thrive through access to capital,” U.S. Small Business Administration Columbus District Director Ricardo Garcia said. “We wanted to recognize their efforts with the Rising Star Award due to the 60 percent increase in SBA loans that Park National Bank has facilitated. Successful small businesses strengthen our national economy and positively impact our local communities.”
Bank of the Year
The Community Capital Development Corporation (CCDC) named Park National Bank its 2016 Bank of the Year. In 2016, Park provided $3.32 million in SBA 504 loans through the CCDC. That was the largest 504 loan volume by any bank and leveraged more than $11.3 million in expansion for Ohio’s small business community.
Lender of the Year
The Ohio Statewide Development Corporation named Scott Reed of Fairfield National Bank, which is in Park National’s family of community banks, its 2016 Lender of the Year. Scott worked with a Buckeye Lake business to restructure its SBA loan to help ease financial difficulty and give the business time to recover, which it did. Reed also provided a large loan for an obstetric physician’s practice.
“We have experienced teams of local lenders who understand the market and who believe small businesses are at the heart of a community’s success,” said Eric Sideri, Park National Bank’s vice president in Commercial Lending. “Whether a business is just starting out, is ready to grow or is thriving and expanding, Park National has always been ready and willing to support those opportunities.”
Park National ranked ninth in a Columbus Business First list noting the top SBA lenders in the Columbus region as of December 2016.