The South Dakota Small Business Administration District Office has announced its 2007 Lender Award recipients in recognition of the performance, commitment and support to small businesses in South Dakota. Seven banks, one credit union and one certified development company were honored for their outstanding achievements in helping small businesses with their financing needs.
American State Bank in Pierre received the 2007 Impact Lender of the Year award. Two of the five loans made by the bank went to Eagle Butte, population 489. These loans totaled $56,200 and created three jobs. The other three loans were made to Pierre businesses totaling over a million dollars and retaining 20 jobs.
Home Federal Bank and Black Hills Federal Credit Union won the 2007 Breakthrough Lender Award. Home Federal had the largest percentage increase in dollar volume going from one loan in 2006 at $52,500 to eight loans in 2007 totaling $935,700. Black Hills Federal had the largest increase in loan volume going from six loans in 2006 totaling $363, 700 to 20 loans in 2007 totaling $1,547,600.
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Black Hills Community Economic Development was named the recipient of the two 2007 Asset Builder Awards. These awards recognize the No. 1 loan volume and the No. 1 dollar volume Certified Development Company Participant Lender in SBA's 504 Program.
Receiving Leadership Circle Awards, recognizing South Dakota's top tier SBA lenders, were Black Hills Federal Credit Union, Great Western Bank, First Premier Bank, Minnwest Bank Sioux Falls and U.S. Bank, N.A. The District Director's Leadership Award was presented to Wells Fargo Bank, N.A. as the No. 1 volume SBA lender in South Dakota.