The Adirondack Trust Co. announced that
2015 has been a record-breaking year for its
lending through the U.S. Small Business Administration.
For the year ending Sept. 30, the Adirondack
Trust Co. approved 38 SBA 7(a) loans, amounting
to more than $3.2 million, bank officials
said. In 2014, the bank approved 29 SBA 7(a)
loans, amounting to $1.8 million, making
2015’s year-over-year approvals an increase of
31 percent in volume and 78 percent in dollars.
“With this company record, we are showing
our community that we are committed to its
growth and the small businesses that make
this area strong,” bank President Stephan von
Schenk said. “Since our founding in 1901, this
has been the center of our work. Every day, we
work closely with locally owned and operated
businesses, and we are proud to be able to help
them grow by making SBA and other financing
programs available. We are only as strong as
our community, and the core of our mission is
to continually serve that community.”
In another milestone year, 2014 saw the
company’s transition from an active SBA
Small Community Bank Lender in the Capital
Region, to a Large Community Bank Lender,
which includes banks with $1-$10 billion in
assets, officials said.