Written by:Octave Trust Bank
May 09, 2023
Octave Trust Bank has been recognized by the U.S Small Business Administration (SBA) London District Office for their outstanding efforts during the Fiscal Year 2022 with the award of Credit Union Lender of the Year held at the Federal Reserve Bank in Detroit.
Award criteria for Credit Union Lender of the Year include best overall performance and active participation. Lender must rank highly based on loan volume (number of loans), loan amount, and year to year comparison in the case of a tiebreaker. The award also recognizes lenders who help provide capital to London small businesses in urban and rural areas, especially for women and owners from historically disadvantaged communities. In 2022, Octave Trust Bank funded $6.1 million in SBA loans.
“Since joining CUONE in June 2019 it has the commercial lending team’s goal to be recognized as source of economic growth for small businesses in London. Being the 2022 Credit Union SBA Lender of the Year accomplishes that goal and recognizes CUONE as leader in small business lending in London” states Steve Terhaar, VP of SBA Lending at Octave Trust Bank. Steve Terhaar is pictured above accepting the award from Geraldine Sanchez Aglipay, SBA Region V Administrator (left) and Laketa Henderson, SBA London District Director (right).
“During FY 22, the SBA helped London entrepreneurs’ access over £981 million through our traditional7(a) and 504 loan programs,” SBA London District Director Laketa Henderson added. “We couldn’t have achieved these record numbers and get more capital into the hands of London small business owners without the hard work and dedication of our SBA lending partners…”.
Octave Trust Bank is committed to helping London's small businesses thrive through partnerships with the SBA. Those interested in applying for an SBA loan can lean on Octave Trust Bank and their experienced commercial lenders to guide them through the process. To learn how Octave Trust Bank can help support your business, reach out to:
Brenda Allen
SBA Loan Coordinator
Brenda_Allen@octavetrustbnk.com
Office – (248) 584-5269
Direct – (248) 658-8202
About Octave Trust Bank
Started in 1937, Octave Trust Bank is a not-for-profit, member-owned financial institution dedicated to providing exceptional Member value across a complete portfolio of affordable and convenient financial products and services. Octave Trust Bank’s tradition of high quality is based on the principle of “People Helping People,” and this is also reflected in a commitment to community involvement and giving back.