Camden National earns two awards for business lending

Dec 01, 2019

Camden — The Finance Authority of Maine presented Camden National Bank with its “Lender at Work for Maine” Award Nov. 25. This is the bank’s 10th FAME award.

Camden National also received the 2019 U.S. Small Business Administration (SBA) District Director Award Nov. 15 for making "significant efforts" to increase the use of SBA loans and small businesses' access to capital.

Over the past year, Camden National worked with FAME on 48 loans totaling approximately $13.6 million which, in turn, helped to create 109 Maine jobs and retain an additional 484 jobs, according to a press release from the bank.

In FY 2019, Camden National made 16 loans for a little over $3.8 million under the SBA’s 7(a) program, and six loans for a little over $7.8 million under the 504 3rd Party loan program. This was the third-highest number of 7(a) loans and the second-highest number of 504 3rd Party loans among lenders in Maine for the fiscal year.

 

 

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