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U.S. Small Business Administration Alaska District Office Names Alaska 504 Lender of the Year for 2011

Anchorage – The U.S. Small Business Administration Alaska District Office will present its 2011 lender awards at the Alaska Lenders’ Symposium held in Anchorage on Thursday November 17th, 2011.  First National Bank Alaska was selected as the Alaska SBA 504 Lender of the Year for 2011.  This award recognizes First National Bank Alaska’s commitment to providing financial assistance to businesses located in Alaska during the federal fiscal year. The recognition is given to the lender with the highest number of 504 approved loans as of the program's year-end date of Sept. 30. The SBA's 504 program provides long-term, fixed-rate; subordinate mortgage financing for acquiring or renovating capital assets including land, buildings and equipment. Any type of financial institution, located anywhere in the United States, may be considered for this award.

“Knowledgeable lenders at First National work shoulder-to-shoulder with small business owners in all regions of the state to offer local expertise to help Alaskans overcome challenges and work toward financial success,” said Vice Chair Betsy Lawer.

With nine SBA 504 loans approved during the fiscal year ending September 30, 2011, totaling $11,858,093, First National Bank Alaska has made a significant impact on Alaska’s small businesses.

“We are proud to play a vital role in financing new small businesses in Alaska and helping existing businesses expand,” Lawer said.

“Our focus at SBA is to help small businesses start, grow and succeed.  Access to capital is the life blood of small businesses especially in these difficult economic times,” said SBA Regional Administrator Calvin Goings. “SBA’s 504 loan program is an excellent tool for small businesses.”

“First National Bank Alaska and our other SBA lending partners play vital roles in financing new Alaskan small businesses, and facilitating the expansion of existing businesses,” said Karen Forsland, Alaska SBA District Director.  “We are proud to recognize FNBA for their success in using SBA’s loan guaranty programs to provide our small business community with access to capital.”

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