BankNewport named top R.I. lender for SBA 504 program

NEWPORT – BankNewport was recently recognized as the top Rhode Island lender for the U.S. Small Business Administration’s 504 loan program for fiscal 2021, according to a news release.

This is the fourth consecutive year, and the 10th out of the last 11 years, that BankNewport has received this designation, according to the release.

In fiscal 2021, BankNewport served as the lender for 14 loans totaling $5.6 million through the SBA’s 504 program, which offers financing for long-term fixed assets such as commercial real estate and equipment.

Nancy Lavin is a PBN staff writer. Contact her at Lavin@PBN.com.

- Advertisement -