FITCHBURG, Mass.–Workers’ Credit Union has been named the number-one, new business lender of the year in this state by the U.S. Small Business Administration.
“Small businesses are the engines that drive our economy, so it is particularly gratifying that we can help local businesses grow and add new jobs,” said Doug Petersen, CEO of the $800-million CU.
Workers’ Credit Union has been an approved SBA lender for four years and had business loans totaling $29 million at the end of Q3.
“This is quite an accomplishment, considering there are over 160 SBA lenders in the state,” said Anne Rice Hunt, assistant district director for the U.S. Small Business Administration.
The SBA said Workers Credit Union was recognized because it achieved the highest percentage of loans to new businesses to total SBA loans. “Of all the SBA loans we made in 2011, 75% went to new businesses, which was the highest percentage among all SBA lenders in Massachusetts,” explained Robert P. Gallo, VP of business lending. “We had a very good year and helped a lot of new enterprises get off the ground.”
