Merrill Bank Recognized as Top Lender by the Small Business Administration
15 October 2005 - 7:05AM
Business Wire
Edwin N. Clift, Chairman and Chief Executive Officer of Merrill
Merchants Bancshares, Inc. (the "Company") (Nasdaq: MERB), the
parent company of Merrill Bank, announced today that the bank has
been recognized as the Top Lender in Maine by the Small Business
Administration (SBA). Charles Summers, Jr., New England Regional
Administrator of the U.S. Small Business Administration and Mary
McAleney, District Director of the Maine SBA, were in Bangor today
to present awards to the bank in three categories: -- 7(a)
Community lender with the highest number of loans -- 7(a) Community
lender with the highest dollar volume -- Lender participating in
the highest number of loans to veterans "Our partnership with
lenders like Merrill has enabled the SBA to serve more businesses
in Maine," stated Summers. "The loan programs are easy to use, the
approval process has been streamlined and it's paying off for
entrepreneurs." Summers also noted that over the past ten years,
Merrill Bank has made 500 SBA loans for a total of $50 million.
McAleney echoed Summers' praise for the bank adding, "Lenders like
Merrill Bank, who are rooted in their community, are vital partners
with the SBA. Through their efforts, they provide the SBA an
opportunity to help create vibrant Maine communities." In accepting
the awards on behalf of the bank, William P. Lucy, President, said,
"Being recognized by the SBA as the top lender in the State of
Maine is a real honor and it wouldn't have been possible without a
great lending team. It is a win-win-win for our customers, the bank
and the SBA." Merrill Bank provides consumer, commercial, trust and
investment services through its eleven locations in Central and
Eastern Maine. The Bank is a "preferred Lender" of the Small
Business Administration.
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