The Adirondack Trust Co. announced that
\n2015 has been a record-breaking year for its
\nlending through the U.S. Small Business Administration.<\/p>\n
For the year ending Sept. 30, the Adirondack
\nTrust Co. approved 38 SBA 7(a) loans, amounting
\nto more than $3.2 million, bank officials
\nsaid. In 2014, the bank approved 29 SBA 7(a)
\nloans, amounting to $1.8 million, making
\n2015’s year-over-year approvals an increase of
\n31 percent in volume and 78 percent in dollars.<\/p>\n
“With this company record, we are showing
\nour community that we are committed to its
\ngrowth and the small businesses that make
\nthis area strong,” bank President Stephan von
\nSchenk said. “Since our founding in 1901, this
\nhas been the center of our work. Every day, we
\nwork closely with locally owned and operated
\nbusinesses, and we are proud to be able to help
\nthem grow by making SBA and other financing
\nprograms available. We are only as strong as
\nour community, and the core of our mission is
\nto continually serve that community.”<\/p>\n
In another milestone year, 2014 saw the
\ncompany’s transition from an active SBA
\nSmall Community Bank Lender in the Capital
\nRegion, to a Large Community Bank Lender,
\nwhich includes banks with $1-$10 billion in
\nassets, officials said.<\/p>\n
\nThis year, The Adirondack Trust Co. once
\nagain received accolades for its performance,
\nplacing in the top-two most active SBA Large
\nCommunity Bank Lenders.<\/p>\n
Colleen and Tim Holmes, co-owners of
\nWOW Restaurants Inc., received one of the
\nbank's 38 SBA loans to expand their business
\ninto a new neighborhood. The couple founded
\nWheatfields and BWP Local Grille, with locations
\nin Saratoga and Clifton Park, and now
\nhas 2 West Bar & Grille and 2 West Express in
\nSaratoga Springs.<\/p>\n
"If we didn't get the funding, we wouldn't be
\nexpanding," Holmes said. "We can do it now,
\nand we are very excited about both our location
\non West Avenue and offering an express
\naspect."<\/p>\n
"When we work with Adirondack Trust, we
\nknow we are supported–and not just on pen
\nand paper," she added.<\/p>\n
The SBA Capital region covers Albany,
\nClinton, Columbia, Essex, Greene, Rensselaer,
\nSaratoga, Schenectady, Schoharie, Warren, and
\nWashington counties.<\/p>\n