SBA Announces 2022 Lender Awards for Kentucky

LEXINGTON, Ky. — Lenders were recognized at the annual Kentucky SBA Lenders Conference held recently in Lexington, Ky. Top lenders by the number of loans for each SBA loan program are listed below. A full lender rankings list is available by contacting the Kentucky District Office.

The Kentucky District Office had over $201 million* in loans for the Fiscal Year 2022. There were 639 approved SBA 7(a), 504 and microloan loans for the fiscal year. That represents the highest number of traditional SBA loans approved in Kentucky since 2016. And with over $201 million in loans for FY22, that amount exceeds the $167.5 million average SBA loan amount for Kentucky by over 20%.

SBA Kentucky District Director Robert Coffey stated, “Small businesses continue to drive our economy across Kentucky, and the SBA had another tremendous year in 2022. This shows the strong collaboration between SBA’s committed staff and our many lenders and resource partners. We cannot thank them enough for their hard work and commitment to SBA.”

FY2022 SBA 7(a) Lender Award Winners in Kentucky 

The Kentucky District Office also recognized Top Performers for both the 504 Loan and the Microloan Programs with lenders in the state. These include:

FY2022 Top Performing Certified Development Companies in Kentucky: 504 Loan Program                                                        

FY2022 Top Performing Microlenders in Kentucky: Microloan Program          

In addition to presenting SBA awards to lenders in the state, individual loan officers responsible for these achievements were also acknowledged at the conference.

A full list of SBA lenders in Kentucky in FY2022 is attached. For questions, please send an email to [email protected].

*SBA COVID-19 recovery loan program data is not included in these totals.

NOTE: Lenders with a presence in Kentucky were selected for the 7(a), 504 and microloan awards. Rankings are based on the total number of SBA loans in Fiscal Year 2022 for each lender.

The 7(a) Loan Program, SBA’s most frequently used loan program for both start-up and growing small businesses, , includes financial help for small businesses with special requirements. Lenders include banks and credit unions across Kentucky. The average 7(a) loan in Kentucky for FY2022 was $450,531.

 The SBA 504 loan program provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation. 504 loans are available through Certified Development Companies (CDCs), SBA’s community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA. The average 504 loan in Kentucky was $616,743 in FY2022.

The SBA Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers for startup and expansion. SBA provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers. The average microloan in Kentucky for Fiscal Year 2022 was $15,365.

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