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Citizens Bank is Top SMB Lender in Northeast

 

Looking to start up an enterprise in New England? If you're shopping for loans, perhaps you should circumnavigate troubled names like Wells Fargo (NYSE:WFC) , Washington Mutual (NYSE:WM) and Capital One Financial (NYSE:COF) — each tightening its credit amid the housing downturn -- and head straight for Citizens Bank.

Citizens Bank, a unit of the Citizens Financial Group — itself owned by The Royal Bank of Scotland Group — declared that it is the No. 1 small business lender in both the Commonwealth of Massachusetts and throughout New England.

During the SBA's recent fiscal year, ending Sept. 30, Citizens enacted 1,014 loans totaling more than $36.7 million in New England. And Citizens said that it originated 384 SMB loans in Massachusetts alone, totaling nearly $16 million.

Citizens said that this constituted the seventh straight year that it was the top lender SMB lender in both the Bay State and New England. The bank said the rankings were derived from data issued by the Small Business Administration. [http://www.sba.gov/]

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