SBA Says 1st National Leads in New England

The Small Business Administration ranked First National Bank of New England the largest lender of SBA-guaranteed commercial loans under its flagship 7(a) program in New England.

The agency, in releasing its 1995 fiscal year figures, shows First National Bank of New England as the region's largest 7(a) lender by a wide margin. First National Bank originated 85 loans during the year, for a total of $40.7 million. Based on dollar volume, the bank, which has its corporate headquarters in Hartford, Conn., ranks sixth in the nation. It is the leader in New England for the second consecutive year.

"Most of our clients are privately owned manufacturers and distributors who use the SBA-guaranteed loans to invest in equipment, facilities, or marketing programs that make them more globally competitive, " said Brian J. Charlebois, executive vice president and head of commercial banking.

Only two other New England-based banks ranked in the top 50 on the SBA's 1995 list. The bank's SBA loan volume, for instance, was five times that of Bank of Boston, which was ranked 43d. First New Hampshire Bank was ranked 23.