CRDC Partners with 13 Different Banks by Approving $6.3 Million in Direct Small Business Loans and Increases Its Direct Loan Lending Limit to $200,000


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CRDC Executive Director, Stephen Heavener is pleased to announce with less than one quarter left in it's fiscal year, CRDC has approved 23 loans totalling $6.3 million. Of that, $4

CRDC Executive Director, Stephen Heavener is pleased to announce with less than one quarter left in it's fiscal year, CRDC has approved 23 loans totalling $6.3 million. Of that, $4 million are SBA 504 loans with the remaining $2.3 million in direct loans. "The industry is seeing more and more complex loans that are requiring banks and their customers to seek alternative financing," said Heavener. "Our lenders are commited to working diligently with banks to seek financing solutions that work for everyone. We are proud to continue to partner with our local banks and lenders while welcoming new relationships."

CRDC approved loans with the following 13 banks:

- Bank of NH (formerly Laconia Savings Bank)

- Centrix Bank

- Citizens Bank

- Claremont Savings Bank

- First Colebrook Bank

- Franklin Savings Bank

- Lake Sunapee Bank

- Ledyard Bank

- Mascoma Bank

- Merrimack County Savings Bank

- People's United Bank

- Savings Bank of Walpole

- St. Mary's Bank

 

CRDC is also pleased to announce changes to its direct lending limit."Based on the ongoing demand for enhancement lending products from CRDC's lending partners, the CRDC Board of Directors approved an increase in direct lending up to $200,000 from the current borrower limit of $150,000, "says Heavener. "This is the first time the direct loan programs lending limit has been raised in more than ten years."



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