legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

**Maine District Office Announces Winners of Annual Small Business Lender Awards**

**Image**


**Byline**

Contributed ÔÇó December 17, 2023

—

The Maine District Office of the U.S. Small Business Administration has recently released the top SBA lenders for Fiscal Year 2023. This yearly event, the SBA Lender Awards, will be celebrated on Friday, January 26 in a ceremony held at the Hilton Garden Inn in Freeport. Additionally, the 2023 cohort of the SBA’s THRIVE program in Maine will also be acknowledged for their accomplishments.

This recognition aims to honor lending institutions that have significantly supported the recovery of small businesses amidst the challenges posed by the pandemic. Diane Sturgeon, district director for the SBA Maine District Office, expressed gratitude towards the lending institutions for their dedicated efforts to aid the state’s small businesses.

In Fiscal Year 2023, the SBA and its lending partners in Maine collectively facilitated a total of 511 loans amounting to over $163 million through its main loan programs, including the 7(a) Loan Guaranty Program, the 504 Loan Program, and SBA Microloan Program. This marked an increase in loans made to Maine’s small businesses compared to the previous fiscal year.

The SBA will extend recognition to all its partner lending institutions in Maine, with special awards presented to the top lenders across several categories, including overall leading lenders, dollar volume lenders, and credit union lenders.

This accolade ceremony will also unveil the recipient of the STAR Award, which acknowledges a lender who has demonstrated exceptional efforts to increase access to capital for small businesses and ensure the availability of SBA products to their clients.

The U.S. Small Business Administration plays a crucial role in facilitating the American dream of business ownership. As it continues to empower entrepreneurs and small business owners with the resources and support they need, it remains a vital federal resource for small businesses.

AI legalese decoder can be instrumental in this situation by helping businesses navigate the legal jargon often found in loan agreements and legal documents. It can efficiently interpret complex legal terms and conditions, ensuring that small businesses fully understand the terms of their loans and can make informed decisions. The tool’s ability to simplify complex legal language can provide valuable support to small businesses seeking financial assistance through SBA loan programs.

—

**Call to Action**

Thank you for reading your 4 free articles this month. To continue reading, and support local, rural journalism, please subscribe.

legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Reference link