Community Trust Bank Inc. was recently honored for the 15th consecutive year with the “Gold Lender Award” from the United States Small Business Administration as Kentucky’s top volume SBA 7a Community Bank lender in federal fiscal year 2022–2023.
According to a statement from Community Trust, the award was presented Nov. 30 at the SBA Lender’s Conference in Louisville.
In Kentucky, the statement said, SBA authorized 45 guaranteed 7a loans for Community Trust Bank customers totaling $9,425,500, and one SBA 504 project totaling $1,593,000.
In total, the statement said, SBA authorized 58 guaranteed 7a loans and one 504 project, providing access to $18,758,400 for Community Trust Bank customers in four states (Kentucky, Tennessee, West Virginia and Ohio) during the most recent federal fiscal year.
CTBI, the statement said, was also one of the top lenders in West Virginia in the 2022-2023 fiscal year, finishing third overall in number of loans authorized, with six loans totaling $3,168,300.
Over the last 15 federal fiscal years, Community Trust Bank has funded over 1,200 SBA 7a and 504 loans, providing access to more than $265 million for small businesses in the bank’s markets, the statement said.
Additionally, Community Trust Bank funded approximately 6,300 SBA Paycheck Protection Program (PPP) loans to more than 5,000 businesses during 2020 and 2021, distributing more than $400 million of forgivable loans to small businesses to help them make it through the financial uncertainty of the COVID pandemic. The businesses assisted by the Community Trust Bank PPP loans employ more than 50,000 people, the statement said.
Read More: SBA recognizes Community Trust Bank as Kentucky’s top SBA Community Bank lender