SBA Alaska District Recognizes Top Lenders for 2023
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The US Small Business Administration (SBA) Alaska District Office awarded its lenders of the year for 2023. Northrim Bank was named 504 Third Party Lender of the Year. McKinley Alaska Growth Capital is the Community Lender of the Year. And Evergreen Business Capital is the SBA Alaska Lender of the Year.
Loan Backing to Reduce Risk
The SBA Loan Program provides lenders with a loan guarantee which lowers the risk of lending to small businesses and enables lenders to provide financing to small businesses and entrepreneurs in situations in which they are unable to do so conventionally.
“These awards recognize the outstanding commitment and dedication of our lending partners to support the growth and success of small businesses in our state,” says Steve Brown, director of the SBA’s Alaska District. “Our loan programs are a vital tool for entrepreneurs, and these lenders have exemplified the spirit of innovation and collaboration that drives economic development in Alaska. We extend our heartfelt thanks to all our SBA lending partners and congratulations to Evergreen Business Capital, McKinley Alaska Growth Capital, and Northrim Bank for their achievements and look forward to their continued partnership in empowering small business owners across Alaska.”
2023 SBA Alaska Lender of the Year
This award recognizes Evergreen Business Capital’s commitment to providing financial assistance to Alaska’s small business owners, which resulted in the approval of twenty-seven loans totaling $16 million during FY2023.
“We at Evergreen are incredibly honored to be recognized as the 2023 SBA Alaska Lender of the Year. This achievement speaks volumes about the dedication of our team, and of our lending partners throughout the region. Together, we’ve witnessed the transformative power of the SBA 504 program, offering loan products that fuel growth, empower entrepreneurs, and build stronger communities. Thank you for your continued partnership and commitment to making small business dreams become reality,” says Patti Kibbe, Evergreen Business Capital president and CEO.
2023 SBA Alaska Community Lender of the Year
This award recognizes McKinley Alaska Growth Capital’s commitment to providing financial assistance to Alaska’s small business owners, which resulted in the approval of fifteen SBA loans totaling $15 million during FY2023.
“McKinley Alaska Growth Capital is honored to receive the award as the SBA Alaska Community Lender of the Year. The SBA 7(a) loan program is a valuable tool for small businesses that need flexible financing, and I’m particularly proud of our team’s expertise in helping our borrowers use the program to finance their business acquisitions. We are thankful for our partnership with the SBA and look forward to expanding our programs in 2024,” says Logan Birch, McKinley Alaska Growth Capital president.
2023 SBA Alaska 504 Third Party Lender of the Year
This award recognizes Northrim Bank’s commitment to providing financial assistance to Alaska’s small business owners, which resulted in the approval of eleven SBA 504 loans totaling $10,518,078 during FY2023.
“We are honored to be named the 2023 SBA Alaska 504 Third Party Lender of the Year for the third consecutive year. At Northrim, we remain focused on serving the needs of small businesses throughout the state. We understand the unique opportunities and challenges of living and working in Alaska where our local lenders provide flexible and customized solutions. We value our work with the SBA Alaska office to support small businesses around the state,” says Northrim Bank President and CEO Michael Huston.
Making History
The track of oil and gas development in Alaska shows the footprints of bold companies and hard-working individuals who shaped the industry in the past and continue to innovate today. The May 2024 issue of Alaska Business explores that history while looking forward to new product development, the energy transition for the fishing fleet, and the ethics of AI tools in business.