The U.S. Small Business Administration’s Office of International Trade has honored Berkshire Bank for its entrepreneurial approach, customer relations and distinctive culture.
44 Business Capital, a division of Berkshire Bank, as named as the 2019 SBA Export Lenders of the Year at the 12th annual SBA Export Lenders’ Roundtable. During the event, both lenders were recognized for their efforts to increase access to capital for U.S. companies providing international trade financing to small businesses.
“It is my pleasure to recognize the SBA’s 2019 Export Lenders of the Year: Regions Bank and 44 Business Capital, a division of Berkshire Bank. The export financing provided by our lender partners plays a pivotal role in helping small businesses compete and succeed in the global market. In fact, small businesses that export grow faster, pay higher wages and have greater economic stability,” said SBA Administrator Linda McMahon.
Berkshire Bank, which has offices in Saratoga and Warren counties, is recognized for its entrepreneurial approach, customer relations and distinctive culture. Berkshire Senior Vice President Greg Poehlmann accepted the award.
Berkshire provides business and consumer banking, mortgage, wealth management, investment and insurance services through 113 full-service branch offices throughout New York, Connecticut, Vermont, New Jersey, Pennsylvania, and Massachusetts, including Commerce Bank, a division of Berkshire Bank. Berkshire Hills Bancorp is the parent of Berkshire Bank.
SBA said Berkshire Bank has originated over $500 million in SBA 7(a) loans in the past nine years and is the nation’s leading SBA Export Express Lender which supported 12 small business exporters in fiscal year 2018 with $12.8 million in export lending.
U.S. exports are important to the nation’s economy, and 98 percent of all exporters are small businesses. During fiscal year 2018, the SBA guaranteed $1.14 billion in financing to small business exporters officials said.
The SBA Export Lenders’ Roundtable is an annual event sponsored by the SBA’s Office of International Trade.
The event brings together lenders, trade financiers, and trade industry professionals to hear from speakers on topics such as trade promotion, the global economic outlook, developments in trade finance, and SBA’s export financing programs. It also highlights the accomplishments of lenders in delivering.
