CAMBRIDGE, MA (May 15, 2012) – Cambridge Savings Bank announced that it was recognized as the Lender of the Quarter by the United States Small Business Administration’s Massachusetts office. For the first quarter of the year, the bank ranked in the top ten SBA Lenders in the Commonwealth, which represented a significant increase in SBA loan volume from the prior year.
“As a community institution, Cambridge Savings Bank is focused on creating loan opportunities for local businesses that have an integral role in the fabric of Massachusetts’ cities and towns,” said Robert M. Wilson, president and CEO of Cambridge Savings Bank. “We are pleased to be recognized by the SBA for our efforts in this area and look forward to building upon our recent success.”
“Small business lending is an essential part of rebuilding the economy, and institutions like Cambridge Savings Bank play a critical role in providing financing for new generations of entrepreneurs and innovators,” said Robert H. Nelson, district director of the SBA. “We thank the bank for supporting continued growth of the small business sector.”
The SBA presents its Massachusetts Lender of the Quarter Award to banks and other SBA-approved lenders that demonstrate significant progress in SBA loan activity. Cambridge Savings Bank offers SBA loan products under the SBA’s Guaranteed Lending programs.
Inspired by the communities it serves, Cambridge Savings Bank is committed to offering a range of lending options for local businesses including working capital, equipment financing, term loans and real estate loans.
Cambridge Savings Bank is a full-service financial institution with $2.3 billion in assets. As one of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has 16 banking centers located in Cambridge, Acton, Arlington, Bedford, Belmont, Burlington, Concord, Lexington, Newton Centre, Newtonville and Watertown. For more information about Cambridge Savings Bank, go to: www.cambridgesavings.com.