WASHINGTON, May 21, 2012 /PRNewswire/ — The U.S. Small Business Administration today named KeyBank the top SBA Large 7(a) Lender of the Year. In a ceremony to launch National Small Business Week, SBA Secretary Karen Mills presented the award – the SBA’s highest recognition – to small businesses, lenders and investment banks that have demonstrated continuing commitment to the growth and expansion of small business.
“This honor reflects our strong partnership with the SBA, our relationship approach to our business and our ongoing commitment to small businesses,” said Michael J. Toth, senior vice president and Business Banking head. “Key’s experience with SBA programs has helped us support our clients through a volatile economy.”
The SBA awards the Large 7(a) Lender of the Year based on factors such as portfolio performance, year over year growth in loan approval volume and on lender size, and ongoing commitment to the growth and expansion of small businesses.
Key demonstrates its commitment to small business in several ways, said John Moshier, senior vice president and national SBA manager. For example, Moshier said, Key is one of only four banks to consistently place among the nation’s top 30 SBA lenders. In addition, Key has pledged to make $5 billion in small business loans by 2014, and expects to fulfill that pledge well ahead of schedule.
“We have deep insight into our clients’ business challenges and exceptional understanding of the many ways the SBA can help them,” Moshier said.
Toth added: “The SBA honor highlights our ability to identify creative ways to support the capital needs of our clients through different economic cycles, and reinforces our passion for prudently supporting the growth of our clients and our economy. It is a great honor to be recognized by the SBA, and an even greater honor to be able to help our clients thrive.”
Key traces its history back more than 160 years and is headquartered in Cleveland, Ohio. One of the nation’s largest bank-based financial services companies, Key has assets of approximately $87 billion, as of March 31, 2012.
Key provides deposit, lending, cash management and investment services to individuals and small businesses in 14 states under the name of KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.
For more information, visit www.key.com.