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LEADER BANK RECEIVES TWO AWARDS FROM THE AMERICAN SMALL ENTERPRISES ADMINISTRATION

ARLINGTON, Mass., December 13, 2021 / PRNewswire / – Leader Bank, NA received two awards for its work as a small business lender and community financial institution in 2021 from the Massachusetts Office of the Small Business Administration (SBA) of the United States at their annual year-end awards ceremony.

The Bank was recognized at the organization’s annual lender awards ceremony held virtually on December 10 as Massachusetts’ Lender to Retailer of the Year and Community Financial Institution of the Year for 2021.

“We are honored to receive these two awards and proud of the work our team did in 2021 to support the small businesses that make our community a vibrant place to live and work,” said Sushil K. Tuli, Chairman and CEO of Leader Bank. “Leader Bank understands the critical importance of supporting small businesses through the challenges they faced in another particularly difficult year, and we look forward to continuing to help them recover and thrive in 2022.”

the Massachusetts The US SBA office manages the administration and implementation of the organization’s programs statewide, including loan assistance programs as well as special outreach efforts and initiatives for small companies. The organization’s annual awards recognize the work of state financial institutions in various categories, including top minority lenders, women entrepreneurs, veterans, rural areas, and more.

The Bank has been an SBA Preferred Lender since 2010 and maintains a diverse line of SBA products, including term loans and lines of credit. These loans help small businesses by providing working capital, financing property or equipment acquisitions, financing the purchase of existing businesses, and refinancing higher cost debt. Since 2015, the Bank has made more than 425 SBA loans to small businesses across New England, for a total of over $ 47 million loan.

Leader Bank was also a proud participant in the SBA’s Paycheque Protection Program (PPP) in 2020, helping nearly 1,500 small businesses by lending more than $ 102 million, with an average PPP loan of $ 68,000.

ABOUT LEADER BANK

Founded in 2002, Leader Bank is a Massachusetts– entrepreneurial financial institution based on a different approach from banking. The core principles of Leader Bank include customer service, exemplary products and innovation to meet the needs of its customers. The best members of the Leader Bank team have been at the forefront of supporting the Bank’s rapid growth and client-centric solutions, as the Bank has continued to expand its business products and solutions and retail over the past two decades. Leader Bank is a committed corporate citizen and is proud to partner with and support philanthropic organizations. You can find more information about Leader Bank at www.LeaderBank.com.

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